Oman Arab Bank Adopts Misys TI Plus to Boost Trade Finance Productivity

Jun 23, 2010, 04:39 ET from Misys plc

LONDON, June 23, 2010 /PRNewswire-FirstCall/ --

- New System to Speed up Transactions and Product Introductions, Enhancing Reporting and Technical Support

Misys, the world's best-selling trade finance system provider, has announced that Oman Arab Bank (OAB) has adopted the Misys TI Plus solution to enhance the bank's trade finance capabilities.

OAB selected Misys TI Plus to improve the support to its customers and enhance its trade finance capabilities to meet growing customer demands and remain competitive. After a few months of comparative assessments Misys TI Plus was found to be the most functionally rich and the bank decided to adopt it for its trade finance and corporate banking operations. TI Plus is due to go live in November 2010 and will be integrated with the Equation core banking system, another Misys solution from which OAB has benefited for 12 years.

Oman Arab Bank was established in 1984 and is among the top banks providing local project finance and related services in Oman. It has been involved in all major infrastructural development and industrial projects in the country and is renowned for its innovations and leading role in developing domestic e-banking services.

"TI Plus offers the high levels of back-office performance we need to differentiate ourselves within the markets we serve and grow our business by providing exceptional quality of service," states Mr. Mustafa Srour, AGM, Oman Arab Bank. "We selected Misys not only based on the superiority of the TI Plus solution but also on the good post-implementation support they offer. We also felt very confident about our proven relationship with the company."

Misys TI Plus is a flexible and intuitive back-office trade finance processing engine that features customisable workflows for providing visibility and control over the entire transaction lifecycle. It allows banks to define Service Level Agreements (SLAs) for each customer and apply either customer groupings or bilateral agreements for individual customers. Sophisticated security features ensure that each part of the system is protected from unauthorised use. TI Plus provides the full coverage of Trade Services including Financial Supply Chain processing.

"We have a long-standing partnership with OAB and are delighted that we will be extending our partnership through the implementation of the Misys trade finance solution. Through TI Plus the bank will benefit from the increased efficiencies and customer service through our award winning solution." adds Roy Froud, Director - Middle East & Africa, Misys.

Misys delivers integrated solutions for the banking, treasury and capital markets and healthcare industries. Its innovative products and service are used by over 1,200 banking customers in more than 120 countries. Misys leverages over 30 years of experience in providing IT solutions to the banking industry to help clients meet constantly evolving market environments.

About Misys plc

Misys plc (FTSE: MSY.L), 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.

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    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
    edward.taylor@misys.com

    Sebastian Mathews
    Financial Dynamics
    +44(0)207-269-7158
    sebastian.mathews@fd.com

SOURCE Misys plc