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BNP Paribas to license Myriad network management sysatem

25 October 2010  |  2451 views  |  0 Source: Myriad

MYRIAD Group Technologies Limited announces the signing of an Agreement for BNP Paribas Securities Services to licence MYRIAD, the global platform for Network Management at Banks, Brokers and other major Financial Institutions.

Dominique Ansiaux, Global Head of Network Management, Clearing and
Custody Services at BNP Paribas Securities Services said: "We have been
working with MYRIAD through RFP, selection and proof-of-concept all year.
Our project is focussed on Fee Management and MYRIAD's capabilities in
this respect match our requirements. MYRIAD's sophistication and flexibility
helped our choice and we look forward to a successful relationship in the
coming years."
Simon Shepherd, CEO of MYRIAD said: "For some time now we have been
broadening our functionality to appeal to an ever wider spectrum of Clients
and Prospects. Addressing the business needs of BNP Paribas Securities
Services is a natural extension of where we have been for the last 4 or 5
years. Winning a mandate to implement in Europe is also exciting and
shows how we can accommodate international business."
Notes to editors: MYRIAD is a web-based application that performs both the
basic and the more complex functions involved in running a global Network
of "supplier" or "provider" Banks, acting as Agents, Correspondents and
sub-Custodians. A database of relationships and contact details, together
with documents held in the context of those relationships, acts as the
corner-stone of the system. Once this static data has been migrated from
legacy systems at minimal effort to each Bank's personnel, dynamic data
and related activities can then be captured, monitored and maintained on
An automated RFP engine, with secure, web-based access for Agents,
Correspondents and sub-Custody suppliers; due diligence, performance
monitoring, fee capture and modelling are all integrated in the one
platform. Proprietary workflow runs throughout the application, supporting
activities as diverse as account opening and SLA monitoring. MYRIAD is
offered either as a hosted solution or it can be installed on a Bank's own

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