Philippine and Chinese Banks Employ Misys Solutions
Philippines Savings Bank (PSBank) has selected OPICS, the treasury and capital markets solution from Misys Wholesale Banking Systems, to reduce risk and increase efficiency in its IT infrastructure. With OPICS set to go live by the second half of the year, anticipated improvements in treasury operations include higher efficiency and accuracy in the front, middle and back office, enhanced transaction flow, better risk management through volume and stop-loss limits, and inventory management of securities. In an unrelated move, the Industrial and Commercial Bank of China (ICBC) has agreed to implement Misys Midas and Trade Innovation products. The products will allow the bank to run up to 15 international branches from a single overseas data centre hub. ICBC’s new branch in Macau was the first to go live with the global hub. The implementation was completed in an aggressive ten-week timeframe to support the branch’s opening in May. Implementation has now begun across branches in Singapore, Tokyo, Seoul and Hong Kong.