Misys markets “competitive advantages” for trade finance
London-based Misys is targeting trade finance
Banking software provider Misys has incorporated global processing into its trade finance solution, TI Plus, in a move that the firm says will help banks gain a competitive advantage through improved customer service and reduced costs.
Misys TI Plus global processing is designed to centralise local systems to provide a standardised integrated platform that can help improve visibility and speed up the rollout of new services. The aim is to reduce pressure on regional teams and help banks to provide services such as 24/7 processing of their trade services transactions, which would give the banks a chance to provide stronger service level agreements to their customers. The standardised international process can also help banks to manage and mitigate operational risk more efficiently by ensuring all areas of the bank operate in the same way.
The global processing service has already been licenced by five banks including ING and Qatar National Bank.
“The evolution of the banking industry has accelerated the demands to enrich customer service, and reduce operational costs whilst the pressure on improving and standardising operational risk management has increased,” said Steve Walshe, product manager for TI Plus global processing, Misys. “Global processing allows a bank to act globally significantly improving their offering to corporate customers, as well as increasing cost-efficiency and the management of operational risk in-house.”
