FirstMerit Bank Licenses Misys' Integrated Banking Solution for Foreign Exchange and International Trade FinanceBy Misys Plc, PRNE
Sunday, March 27, 2011
LONDON, March 28, 2011 - Misys plc (LSE: MSY), the global application software and
services company, announces today that U.S. bank FirstMerit has licensed an
integrated international banking solution covering foreign exchange and trade
finance processing from the front to the back office.
FirstMerit Bank, an Ohio-based financial institution, has
chosen the end-to-end solution from Misys in order to build its FX and trade
finance business which will enable the bank to maintain the high levels of
service and excellence for which it is known.
The integrated suite of products includes Misys Opics Plus,
Misys Portal for Opics Plus, TI Plus and Misys Trade Portal. This new
agreement allows FirstMerit to provide its customers with a web-based
front-end and a best-of-breed back-office processing system for trade finance
and FX solutions. Misys will provide the software as a service using its SAS
70-certified hosting capability.
The Misys portal will support the bank's goals to expand its
international banking products globally. FirstMerit will be able to provide
international banking customers with a full range of products and services to
meet a variety of foreign exchange and trade finance needs, through a single
web-based portal. This includes Spot, Forward, Window Forward, NDF, Swaps,
Time Options, Bank Notes, Drafts, Wires, Letters of Credit, Standbys and
"The Misys solution will especially help improve our
operational efficiencies and provide a platform from which we can grow our
business," said Craig Schurr, Senior Vice President & Manager, International
Banking Division. "We engaged an extensive analysis of vendor-based systems
and Misys was the only company able to provide a single hosted customer front
end and integrated back-office systems for both foreign exchange and trade
finance, without involving a third party."
"The market is changing and regional banks require a
completely integrated international solution." commented Rick Salk, Regional
Sales Director for the Americas, Misys. "FirstMerit has chosen our solution
to make sure it delivers on its objective of offering focused, flexible and
prompt services to its customers. FirstMerit will be able to grow its FX and
trade volumes, boost efficiency and broaden its revenue streams, while
keeping close to its customers through our portal."
FirstMerit Corporation is a diversified financial services company
headquartered in Akron, Ohio, with assets of $14.1 billion as of December 31,
2010 and 207 banking offices and 220 ATMs in Ohio, Western Pennsylvania, and
Chicago areas. FirstMerit provides a complete range of banking and other
financial services to consumers and businesses through its core operations.
Principal wholly-owned subsidiaries include: FirstMerit Bank, N.A.,
FirstMerit Mortgage Corporation, FirstMerit Title Agency, Ltd., and
FirstMerit Community Development Corporation.
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions
that deliver significant results to financial services organisations. We
maximise value for our customers by combining our deep knowledge of their
business with our commitment to their success.
Misys is a market leader with over 1,300 customers, including all of the
world's top 50 banks. Misys employs approximately 4,000 people and works with
over 100 partners globally who serve customers in more than 120 countries.
We aspire to be the world's best application software and services
company, delivering results for the most important industries in the world.
Working with our extensive partner network, together we create compelling
solutions enabling our customers to differentiate themselves and drive a
Misys: experience, solutions, results
Contact us today, visit: www.misys.com
For further information please contact Edward Taylor Global Head of Public Relations Misys +44(0)20-3320-5530 email@example.com Sebastian Mathews FD +44(0)20-7269-7158 firstname.lastname@example.org
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys, +44(0)20-3320-5530, edward.taylor at misys.com; Sebastian Mathews, FD, +44(0)20-7269-7158, sebastian.mathews at fd.com
Tags: London, March 28, Misys plc, United Kingdom