National Bank of Oman Deploys Misys due to Growth in Trade Finance
The National Bank of Oman (NBO) has selected the Misys trade finance solution to allow NBO to expand its business coverage, meeting customer demands and support its growing trade volumes.
The integrated solution combines the power of the back-office processing system, Misys TI Plus with Misys Trade Portal, the e-business console. This will enable customers to connect to NBO to conduct their international trade business at the same time as accessing a wide range of financial supply chain services.
The bank recently conducted a comprehensive evaluation to find a provider to replace its legacy trade finance processing system. This move was part of NBO’s plan to expand its trade finance business via innovative trade products and to grow volumes in traditional business areas.
“We were very impressed by the fully integrated front-to-back trade finance solution offered by Misys,” said Humayun Kabir, general manager wholesale banking, NBO. “The corporate service level agreement–driven workflow and business dashboard incorporated into the system were important differentiating factors. We are confident that Misys TI Plus and Trade Portal will help us to meet our growth targets for our traditional products as well as newer ones, such as factoring.”