Bank of Beijing Sources Trade Finance Product from Misys
Bank of Beijing (BoB) has chosen Misys Opics and Misys Trade Innovation to run its trade finance and treasury management services. The combined solution will allow the bank to develop and enhance its existing international and corporate banking capabilities. Implementation will be completed in the third quarter of 2005. Before choosing Misys, the bank ran a six month evaluation process in which three treasury and four trade finance solutions were reviewed. Misys was found to be the only vendor able to provide a solution covering the two business areas. In addition, the Bank of Beijing team was impressed by the global strength and support offered by Misys, as well as its knowledge of the local Chinese market. Since choosing Misys, Bank of Beijing has become the first bank in China to go live on a true STP (straight through processing) treasury solution.