Source: Misys Banking Systems
Misys Banking Systems announces today that Bank of India (BOI) has rolled out Misys Midas Plus for its 16 international branch banking operations.
This is the first time that a bank has rolled out a packaged core banking system across three continents managing processes from a single hub.
Centering its operations in Singapore, BOI has implemented Misys Midas Plus with Global Processing across 16 branches and seven time zones, covering its operations in the US, UK, France, Cayman Islands, Singapore, Hong Kong and Japan. The bank's implementation is the largest and most advanced deployment of any core banking system in the world.
Misys Midas Plus provides BOI with a single, real-time, consolidated view of its worldwide business, with all functionality managed centrally. This includes transaction processing across treasury and capital markets, commercial lending, trade finance, payments and retail services with straight-through processing capabilities. BOI has unified its business practices and global data-mining capabilities across its international operations and business lines by implementing Misys Midas Plus. The solution also gives BOI the ability to have a common core banking system across different geographies running on a centralised infrastructure and single J2EE technology architecture.
Jerry Luckett, product and strategy director, Core Banking, Misys Banking Systems, comments: "The success of this project has been thanks to the visionary IT and executive team at Bank of India. They saw the opportunity to forge ahead of their competition by implementing a core banking system across their network of branches. We are delighted that they have been able to capitalise on this opportunity by using our market-leading global processing banking system. The successful and rapid implementation of the project is a true reflection of the strong teamwork and partnership between Misys and the bank."
BOI has completed the 16 branch rollout in record time. Mr. D. Krishnamurthy, General Manager of Information Technology at Bank of India, comments, "We are very pleased with the progress of the implementation of Misys Midas Plus with Global Processing. Misys Midas Plus represents the most advanced banking application in the market today and the excellent teamwork with our own project teams and extensive support from Misys has meant an extremely fast roll-out. We are delighted with the successful live system we now have and we look forward to continuing our partnership with Misys further in the future."
Jerry Luckett adds, "Misys is the only vendor that provides a credible answer to banks' Global Processing needs. We back up our world-class solution with a global implementation capability that no other core vendor can match. Misys Midas Plus reinforces our position as the preferred and most trusted banking vendor in international markets."