Misys to Deliver Gulf's First Online Trade Finance Service
BankMuscat has launched Bank Muscat e-Trade, its online trade finance service based on Misys Trade Innovation eBanking technology. The live implementation of Trade Innovation eBanking at the bank’s headquarters in Oman extends its trade finance business to customers via Internet access in real-time. The high levels of straight-through processing (STP) will reduce duplication of effort, diminish risk and result in major cost savings, according to the bank. Launched initially on a trial basis, twenty clients had registered for the trial within two months, demonstrating the demand in the region for such services, said BankMuscat.