State Bank Of India Implements Misys Solutions
The State Bank of India has gone live with Mysis’ Midas and Trade Innovation products for the bank’s Singapore operations. The new systems will, according to Misys, help the bank meet the SAS 33 accounting requirements and automate reporting to the Monetary Authority of Singapore. The implementation will also strengthen internal controls and enable the bank to meet the necessary compliance standards. Misys said that the integrated systems will provide the bank with a more consolidated view of all transactions, facilitating better risk management. Furthermore, by offering common SWIFT message routing and delivery, Midas and Trade Innovation will eliminate duplication while ensuring accuracy and control, according to Mysis.