Bank of India rolls out CBS
NT Bureau, Chennai, June 02 2006
www.newstodaynet.com
JUNE 02: Bank of India (BOI) has adopted a Core Banking Solution software, Misys Midas Plus, for its 16 overseas branches across three continents for managing processes from a single hub.
Centering its operations in Singapore, BOI has implemented this networking software covering opera-tions in the US, UK, France, Cayman Islands, Singapore, Hong Kong and Japan.
Misys Midas Plus has provided the bank with a single, real-time, conso-lidated view of its worldwide busine-ss, with all functionality managed centrally through the CBS software. This includes transaction process across treasury and capital markets, commercial lending, trade finance, payments and retail services with straight-through processing capabilities.
BOI has unified its business practices and global data-mining capabilities across its overseas operations by implementing Misys Midas Plus. The solution also gives the bank the ability to have a CBS system across different geographies running on a centralised infrastr-ucture and single IT architecture. Vibhakar Bhushan, development head, Misys India, said, 'The success of this project owes to the IT and executive
team at Bank of India. They saw the opportunity to forge ahead of their competition by implementing a CBS system across their network of branches. The rapid impleme-ntation of the project is a true reflec-tion of the strong teamwork and partn-ership between Misys and the bank.'
BOI has completed the 16-branch rollout in record time. D Krishna-murthy, general manager, IT, Bank of India, said, 'We are pleased with the implementation of Misys Midas Plus for global processing. Misys Midas Plus represents the advanced banking application in the market today and the teamwork we had with the bank meant a fast rollout.'
Misys India has specialised in providing IT solutions for global processing needs of banks and possessed core capabilities in this field to become a leading vendor for CBS systems for banks.
Misys Banking Systems has over 1,200 customers in 120 countries, with IT solutions for retail banking, wholesale banking, treasury and capital markets and risk management. Top |
