Misys Extends SWIFTNet Access to its Corporate Trade Services Solution

Oct 01, 2010, 02:58 ET from Misys plc

LONDON, October 1, 2010 /PRNewswire-FirstCall/ -- Misys plc (LSE: MSY), the global application software and services company, today announces it has broadened the functionality of its award-winning front-end trade finance solution, Misys Trade Portal (MTP) for Multi-Bank. The enhancement significantly enriches the solution for corporates of any size by enabling SWIFTNet access through the Misys SWIFTNet Service Bureau.

MTP for Multi-Bank caters for corporates that have relationships with more than one trade finance bank. Corporates no longer need to manage their trade finance business, such as Letters of Credit, Documentary Collections, Bonds and Guarantees or Open Account transactions, with each bank separately. With MTP for Multi-Bank corporate organisations can access a consolidated view of all their trade finance transactions online, minimising potential reconciliation, reporting and auditing issues. The single sign-on service offers a secure way to improve operational efficiency and reduce risk.

Organisations using MTP for Multi-Bank can now benefit from low-cost and low-maintenance access to the SWIFT network through the Misys SWIFTNet Service Bureau. This allows them to take advantage of the new corporate-to-bank MT798 trade envelope messages, resulting in better straight-through processing rates.

"The up-front investment required for corporates to join the SWIFT network has often prevented all but the largest corporates from benefiting from direct access, particularly when expecting a full integration with their business processes," states Olivier Berthier, Solutions Director, Transaction Banking, Misys. "Our trade services proposition for corporates removes that barrier by offering integrated SWIFTNet access as a service embedded into the user-friendly MTP for Multi-Bank business service. Our solution makes this deep level of business integration for trade finance transactions much more affordable for many more bank customers."

About Misys plc

Misys plc (LSE: MSY), 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 banking and treasury & capital markets, with over 1,200 customers, including all of the world's top 50 banks. Misys employs around 3,500 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 financial services industry throughout the world.

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    Edward Taylor
    Global Head of Public Relations
    Solutions for Banking and Treasury & Capital Markets

    Sebastian Mathews
    Financial Dynamics

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