Pohjola Expands European Trade Finance Operations with Misys
Finnish financial services company, Pohjola Bank, has licensed Misys’ trade finance processing and internet-based delivery solution so it can grow the volume of its trade business. The bank is experiencing an increased demand for trade finance and evaluated several systems to help it to increase its processing efficiency and workflow while catering for the higher trade transaction volumes.
“We chose the solution from Misys because it combines the strength of the back-office processing system, TI Plus, with the excellent online delivery console, Misys Trade Portal,” said Tarja Pitkänen, head of cash management and international services at Pohjola. “The fully integrated front-to-back solution will contribute greatly to the efficiency of our operation and assist us in maintaining the impressive level of customer satisfaction on which we pride ourselves. Our excellent solutions stand us out from the competition and by implementing the leading trade finance system on the market we are ensuring we keep these standards as high as possible.”
Misys TI Plus is a flexible back-office automation system that supports the front-to-back trade finance business of banks. The solution includes customisable workflows that provide visibility and control over the entire transaction lifecycle. TI Plus enables banks to define service level agreements (SLAs) for each customer and apply either customer groupings or bilateral agreements for individual customers.
Misys Trade Portal is an integrated online system that enables banks to provide a fully-featured console for connecting customers to the bank over the internet. Bank customers can process and review their transactions and receive customised news feeds related to their particular industries. Trade Portal provides a multibank architecture that facilitates access to multiple banks and their consolidated transactions.