LONDON, April 14, 2010 /PRNewswire-FirstCall/ --
- Misys BankFusion Universal Banking at the Heart of Tanzanian Bank's Expansion Plans
Misys plc (LSE: MSY), the global application software and services company, today announced that CRDB Bank, one of Tanzania's leading commercial banks, has successfully implemented and gone live with Misys BankFusion Universal Banking. The new functionality available through the BankFusion solution now allows CRDB Bank to improve customer service and bring new products to market more quickly and efficiently.
CRDB provides a wide range of corporate, business and retail services to customers via its network of over 50 branches across Tanzania. The bank is going through a period of growth with plans to open 10 new branches each year, launch a fully automated and integrated banking service and add many new innovative products to its existing portfolio. The bank was running Misys Bankmaster as its core banking system and took the decision to upgrade to BankFusion Universal Banking to underpin these expansion plans and to provide a platform for growth.
The Professional Services team from Misys successfully leveraged its delivery model which allowed pro-active and accelerated data cleansing and migration services, combined with initial testing at the Bangalore Global Solution Centre. Meanwhile, the on-site team focused on assisting CRDB to interface to existing systems and further realise the key benefits of the new solution. The data migration process from Bankmaster to the BankFusion solution was completed with an automated conversion tool to keep risks to a minimum and accelerate the process for the bank, giving CRDB the confidence to migrate with minimal assistance on the cut-over weekend.
CRDB is now benefiting from the most advanced universal banking solution available on the market. With BankFusion's interfaces with Misys TI Plus, the bank has also greatly enhanced its ability to process trade finance transactions and grow its trade business as well as improve its compliance and performance management capabilities. Additionally, CRDB has Misys Opics Plus integrated into its operations, bringing full automation to the bank's treasury department.
Dr Charles Kimei, Managing Director of CRDB Bank, comments: "We needed the most advanced solution on the market that provided better risk management and more real-time business intelligence throughout the bank's operations, from the branch to the back office. We have that in BankFusion Universal Banking. The system allows us to deliver new and improved products to market in a more timely manner, without the need for complex IT projects. We are delighted that Misys has been able to deliver these capabilities which will help us to meet our growth plans and equip us to deal with the unexpected."
Roy Froud, Regional Director for Middle East and Africa at Misys, adds: "It is great news that another of our BankFusion customers has gone live in such a short time. Our automated conversion tool speeds up the process of upgrading our customers and makes it almost risk free. Core banking systems need to deliver a combination of power and flexibility to enable customers not only to accommodate growing business volumes but to expand their product lines to meet changing market requirements. CRDB is already benefiting from the solution and is now able to continue its expansion while minimising the cost and without the disruption that normally is associated with new systems development. CRDB has been a customer of Misys for 14 years and we are delighted we are able to continue assisting them with their exciting expansion strategy."
About Misys plc
Misys plc (LSE: MSY), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys plc owns a controlling stake in NASDAQ-listed Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: http://www.misys.com
For further information please contact
Edward Taylor
Global Head of Public Relations
Misys
Solutions for Banking and Treasury & Capital Markets
+44(0)20-3320-5530
[email protected]
Sebastian Mathews
FD
+44(0)20-7269-7158
[email protected]
SOURCE Misys plc
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