NIB Bank in Pakistan Expands Into New Territories and Improves Treasury Efficiencies with Misys
DUBAI, UAE, May 13, 2014 /PRNewswire/ --
Misys, the global leader in treasury and capital markets solutions, has announced today that NIB Bank in Pakistan has implemented Misys Opics Plus and Opics Risk Plus in its Treasury and Risk Department. NIB Bank needed to automate treasury processes for FX, money market, capital market and derivatives in its operations in Karachi, Pakistan. NIB Bank, headquartered in Karachi, is one of the largest banks in Pakistan and also one of the largest corporate entities of the country with a paid up capital of Rs. 103 billion.
The advanced risk management and compliance tools from Misys will help NIB Bank to enhance the transparency of its operations. The solution gives a fully integrated treasury and capital markets solution with rich straight-through-processing, treasury and back-office functionality. Within the solution, an award-winning risk analytics engine enables risk managers to reduce the total cost of ownership of NIB Bank's treasury and trading operations.
Khurram Agha, CIO at NIB Bank states, "Expanding our collaboration with Misys offers us a full-fledged treasury solution that meets NIB Bank's requirements. Misys Opics Plus and Opics Risk Plus Solutions will be seamlessly integrated with our core banking back-office system. This will enhance our treasury operations and keep our commitments to our customers and continue to offer them the best experience."
Commenting on the agreement, Fady Fiani, Head of Sales Middle East & South East Asia for Misys, adds, "We are delighted that NIB Bank has turned to Misys to provide it with a comprehensive solution to help mitigate operational and financial risk. We are confident that Misys Opics Plus and Opics Risk Plus solutions will help achieve NIB Bank's goals, provide better customer engagement and increase profits. Misys solutions will help expand its asset coverage and reduce operational risk with better automation of regulatory reporting."
About NIB Bank
NIB Bank, headquartered in Karachi, is one of the largest banks in Pakistan and also one of the largest corporate entities of the country with a paid up capital of Rs. 103 billion. Through an extensive network of branches spread across Pakistan, the Bank continues to serve its customers for all their financial needs. The Bank's resolve to provide world-class financial products and services to the banking population of Pakistan is driven by its key business units including Consumer Banking, Commercial Banking and Wholesale Banking.
For more information, please visit: http://www.nibpk.com
Misys provides the broadest portfolio of banking, treasury, trading and risk management solutions available on the market. More than 1,900 banks and financial institutions use Misys software to run their businesses, all benefitting from the continual investment in innovation and product quality. Misys solutions create value across banking and trading book operations, underpinned by the deep domain expertise and experience of Misys employees and partners who help ensure customers get maximum benefit from the solutions and operate more effectively.
With high quality products and support Misys customers are able to grow and protect their long-term technology investments. Misys has the broadest range of solutions available to meet the most complex requirements. Visit http://www.misys.com to see how Misys and its extensive network of partners can add value to the financial services industry.
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Global Head of Public Relations