Misys: Streamlining and Automating Financial Processes

Nadeem Syed, CEO, MisysNadeem Syed, CEO
With the global financial market transforming and businesses expanding to accommodate new-fangled technologies and regulatory amendments, treasury management is obligated to go beyond simple processing of payments and collections. Today, bank treasurers are undertaking new initiatives to consolidate internal operations and standardize global treasury processes to enhance efficiency. In addition to getting a thorough grip over enterprise risk and working capital, treasurers are streamlining and automating the various back-office functions. The critical need here is an efficient treasury management solution that can provide effective liquidity and hedge-funding visibility for the organizations. To fulfill this requirement, Misys offers FusionBanking, a comprehensive portfolio that assists banking institutions in planning strategies, optimizing liquidity, mitigating risks, and execution of funding, in a cost-effective and reliable way. “Our Fusion portfolio fundamentally changes the way banks and financial institutions can protect their IT investments and drive future growth,” states Nadeem Syed, CEO of Misys.

“We have developed a set of innovative, integrated solutions that drive performance and profits for our clients. Banks do not need to rip out existing systems, but can select the appropriate components to enable them to gain competitive advantage,” says Syed. FusionBanking KTP, from Misys is a multi-entity treasury management system that enables treasurers to optimize the rapidly growing bank’s treasury. It provides end-to-end control and full visibility over financial processes beyond treasury for strategic planning, reporting, and decision-making. With the tool, treasurers can maneuver their bank’s financial assets, govern the regulatory reporting, and effectively manage its liabilities.

The cloud-hosted treasury management software from Misys facilitates banks to integrate global treasury management, reduce risks in post-trade processing, and benefit from multi-bank connectivity.

Our Fusion portfolio fundamentally changes the way banks and financial institutions can protect their IT investments and drive future growth

Along with this, the company offers SWIFTNet Service, which is authorized by SWIFT as Premier Operating Practice (POP). Through the SWIFTNet Service, Misys’s customers can gain access to payment processing securely with multi-banking connectivity, while complying with regulatory changes (EMIR and Dodd-Frank reporting) effectively without the need of in-house system maintenance and upfront investment of large capital. The solution also enables fund managers and banks to access the cloud solution while de-risking trade confirmation matching. It is done by automating trade confirmations between SWIFT and non-SWIFT counterparties in real time, removing operational risk, and enhancing efficiency for both treasurers and fund managers.

In addition, Misys also provides FusionBanking Corporate channels, through which banks can operate from a single integrated platform with secure, web access, and self-service capabilities for all commercial banking functions that include trade finance, cash, and treasury services modules. The solution further orchestrates global transaction services and provides a platform for business expansion and channel innovation.

Prominent names in the banking sector, such as Saudi Hollandi Bank, Cooperative Bank of Kenya, and National Australia Bank have reaped the benefits from Misys solutions and are now able to efficiently initiate payments and make transfers between accounts, as well as administer their own user roles, workflows, reports, and alerts.

In the near future Misys aims at transforming the global financial service industry by making banks more resilient, more efficient, and more competitive. “Financial institutions are at a critical moment in their industry’s history. They are faced with a unique opportunity to develop new markets, leverage new technologies and serve customers in new ways. Misys is positioned to help them take advantage and win,” asserts Syed.