Misys BankFusion Universal Banking to Underpin Co-operative Bank of Kenya's Expansion Drive Across African MarketsBy Misys Plc, PRNE
Sunday, December 19, 2010
Integrated Solution to Help to Expand Product Portfolio and Enhance the Bank's Services
LONDON, December 20, 2010 - Misys, the global application software and services company,
has today announced that it has recently signed an agreement to deploy an
integrated BankFusion Universal Banking solution. This will cover the retail
banking, trade finance and treasury functions at the Co-operative Bank of
Publicly listed on the Nairobi Stock Exchange, Co-operative
Bank of Kenya has licensed the functionally-rich flexible solution from Misys
in line with the bank's strategic plans to increase its product portfolio,
enhance the quality of services, and expand the bank's market share. The new
agreement is an important milestone for Misys as it marks another large-scale
sale and implementation of BankFusion Universal Banking in East Africa.
Co-operative Bank of Kenya, which has been a Misys client for
the past 15 years, was looking for a solution to automate the majority of the
bank's consumer, corporate and treasury operations and drive efficiencies.
The innovative technology will enable the bank to use new channels to reach
"This project is an important breakthrough for Misys as it
provides momentum for our ongoing expansion program in the East African
markets," states Roy Froud, Director - Middle East & Africa, Misys. "We have
been a partner to Co-operative Bank of Kenya for many years and we are
pleased that they continue to be satisfied with our solutions and services.
The new Misys solutions being implemented will be crucial in helping the bank
in its plans to expand its product portfolio and widen its market share in
the country and across other African markets."
Gideon Muriuki, Group Managing Director & CEO, Co-operative
Bank of Kenya, added: "With its impeccable track record in providing
high-performance technology solutions, we are confident that Misys will help
us achieve our growth objectives. We will now be able to introduce new
products rapidly and boost our capabilities in areas such as business
intelligence and automation of our trade finance and treasury operations. We
will also be counting on Misys to provide the technological support needed to
expand our presence across more market segments not just in Kenya, but across
About Misys plc
Misys plc (LSE: MSY), 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 in banking and treasury & capital markets, with
over 1,200 customers, including all of the world's top 50 banks. Misys
employs around 3,500 people 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 financial services industry throughout
Misys: experience, solutions, results
Contact us today, visit: www.misys.com
For further information please contact Edward Taylor Global Head of Public Relations Misys Solutions for Banking and Treasury & Capital Markets +44(0)20-3320-5530 email@example.com Sebastian Mathews Financial Dynamics +44(0)207-269-7158 firstname.lastname@example.org
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys, Solutions for Banking and Treasury & Capital Markets, +44(0)20-3320-5530, edward.taylor at misys.com; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158, sebastian.mathews at fd.com
Tags: December 20, London, Misys plc, United Kingdom