Misys, the world's best-selling trade finance system provider, has announced that Oman Arab Bank (OAB) has adopted the Misys TI Plus solution to enhance the bank's trade finance capabilities.
OAB selected Misys TI Plus solution to improve the support to its customers and enhance its trade finance capabilities to meet growing customer demands and remain competitive. After a few months of comparative assessments Misys TI Plus was found to be the most functionally rich and the bank decided to adopt it for its trade finance and corporate banking operations. TI Plus is due to go live in November 2010 and will be integrated with the Equation core banking system, another Misys solution which OAB has benefited from for 12 years.
Oman Arab Bank was established in 1984 and is among the top banks providing local project finance and related services in Oman. It has been involved in all major infrastructural development and industrial projects in the country and is renowned for its innovations and leading role in developing domestic e-banking services.
"TI Plus offers the high levels of back-office performance we need to differentiate ourselves within the markets we serve and grow our business by providing exceptional quality of service," states Mr. Mustafa Srour, AGM, Oman Arab Bank. "We selected Misys not only based on the superiority of the TI Plus solution but also on the good post-implementation support they offer. We also felt very confident about our proven relationship with the company."
Misys TI Plus is a flexible and intuitive back-office trade finance processing engine that features customisable workflows for providing visibility and control over the entire transaction lifecycle. It allows banks to define Service Level Agreements (SLAs) for each customer and apply either customer groupings or bilateral agreements for individual customers. Sophisticated security features ensure that each part of the system is protected from unauthorised use. TI Plus provides the full coverage of Trade Services including Financial Supply Chain processing.
"We have a long-standing partnership with OAB and are delighted that we will be extending our partnership through the implementation of the Misys Trade Finance Solution. Through TI Plus (Trade Innovation) the bank will benefit from the increased efficiencies and customer service through our award winning solution." adds Roy Froud, Director - Middle East & Africa, Misys.
Misys delivers integrated solutions for the banking, treasury and capital markets and healthcare industries. Its innovative products and service are used by over 1,200 banking customers in more than 120 countries. Misys leverages over 20 years of experience in providing IT solutions to the banking industry to help clients meet constantly evolving market environments.