Misys plc (FTSE: MSY.L), the global application software and services company, announces today that Philippine Veterans Bank is upgrading to BankFusion Equation to support the growth of its consumer banking, trade finance and lending business.
Philippine Veterans Bank (PVB) has been a Misys customer for ten years, benefiting from its solutions in its banking branches, covering treasury, accounting and financial reporting. One of the bank's goals is to grow transaction volumes to match the demands of the business, particularly in the area of government agencies and local government units lending. In line with this expected growth, the bank's management was looking to automate processes, improve productivity and drive down the cost/income ratio to cater for the increased demands on operations.
By upgrading to Misys BankFusion Equation, PVB will be able to tailor and modify business processes to its exact requirements, no longer constrained by the underlying technology. The solution fully integrates loan and deposit cash management processes from origination through to the back office.
PVB has licensed the core banking system as well as the BankFusion Workbench, the application development environment which enables the bank to build artefacts and assemble them into process models.
"Misys has a truly unique solution that will help us build our business," comments Ricardo A. Balbido Jr, President of Philippine Veterans Bank. "We needed a system that could enable our team to deliver on our ambitious growth objectives, allowing them to tailor processes easily and shape the way we meet the demands of our customers with new products and services. We look forward to BankFusion Equation supporting us as we move the business forward."
"We are delighted that PVB has decided to take advantage of the very latest version of Misys' core banking system, BankFusion Equation," adds Lee Boon Huat, Asia Pacific Managing Director, Misys. "Our revolutionary BankFusion platform will deliver re-usable components to PVB, bringing the bank the flexibility it needs for the future."
PVB has licensed an integrated solution comprising Misys BankFusion Equation, Opics Plus, TI Plus and Message Manager. It strengthens nns PVB's core processing, lending, treasury and trade finance capabilities and provides a superior foundation on which to build and grow in the future.