FirstMerit Bank Licenses Misys' Integrated Banking Solution for Foreign Exchange and International Trade Finance

Mar 28, 2011, 02:00 ET from Misys plc

LONDON, March 28, 2011 /PRNewswire-FirstCall/ -- Misys plc (LSE: MSY), the global application software and services company, announces today that U.S. bank FirstMerit has licensed an integrated international banking solution covering foreign exchange and trade finance processing from the front to the back office.

FirstMerit Bank, an Ohio-based financial institution, has chosen the end-to-end solution from Misys in order to build its FX and trade finance business which will enable the bank to maintain the high levels of service and excellence for which it is known.

The integrated suite of products includes Misys Opics Plus, Misys Portal for Opics Plus, TI Plus and Misys Trade Portal. This new agreement allows FirstMerit to provide its customers with a web-based front-end and a best-of-breed back-office processing system for trade finance and FX solutions. Misys will provide the software as a service using its SAS 70-certified hosting capability.

The Misys portal will support the bank's goals to expand its international banking products globally. FirstMerit will be able to provide international banking customers with a full range of products and services to meet a variety of foreign exchange and trade finance needs, through a single web-based portal. This includes Spot, Forward, Window Forward, NDF, Swaps, Time Options, Bank Notes, Drafts, Wires, Letters of Credit, Standbys and Collections.

"The Misys solution will especially help improve our operational efficiencies and provide a platform from which we can grow our business," said Craig Schurr, Senior Vice President & Manager, International Banking Division. "We engaged an extensive analysis of vendor-based systems and Misys was the only company able to provide a single hosted customer front end and integrated back-office systems for both foreign exchange and trade finance, without involving a third party."

"The market is changing and regional banks require a completely integrated international solution." commented Rick Salk, Regional Sales Director for the Americas, Misys. "FirstMerit has chosen our solution to make sure it delivers on its objective of offering focused, flexible and prompt services to its customers. FirstMerit will be able to grow its FX and trade volumes, boost efficiency and broaden its revenue streams, while keeping close to its customers through our portal."

About FirstMerit

FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, with assets of $14.1 billion as of December 31, 2010 and 207 banking offices and 220 ATMs in Ohio, Western Pennsylvania, and Chicago areas. FirstMerit provides a complete range of banking and other financial services to consumers and businesses through its core operations. Principal wholly-owned subsidiaries include: FirstMerit Bank, N.A., FirstMerit Mortgage Corporation, FirstMerit Title Agency, Ltd., and FirstMerit Community Development Corporation.

About Misys plc

Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to financial services organisations. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.

Misys is a market leader with over 1,300 customers, including all of the world's top 50 banks. Misys employs approximately 4,000 people and works with over 100 partners globally 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. Working with our extensive partner network, together we create compelling solutions enabling our customers to differentiate themselves and drive a competitive edge.

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