National Bank of Abu Dhabi Deploys Misys Loan IQ to Boost Lending Operations
By Misys Plc, PRNESunday, June 13, 2010
Lending Solution Reduces Costs by as Much as 20 Per Cent and Improves Loan Turnaround Time and Efficiency
LONDON, June 14, 2010 - Misys PLC, a global provider of application software and
services for the banking and financial industry, has announced that the
National Bank of Abu Dhabi (NBAD) will deploy its commercial lending
solution, Misys Loan IQ, for its loan operations.
"The solution proposed by Misys will provide the bank with
market-leading functionality that addresses each area of the bank's
requirements from the Structured Finance Team, Credit Management, Risk
Control, Accounting and Compliance and Portfolio Management. It will also
enable NBAD to capitalise on the unparalleled commercial lending expertise
that Misys has gained from working with the top financial institutions
worldwide," said Kevin Hayden, Treasury & Capital Markets Operations
Director, Middle East and Africa, Misys.
NBAD, the UAE's largest bank by market capitalisation,
commissioned Misys to suggest a robust and scalable solution for its
lending-related back-office operations. Misys Loan IQ currently processes
over a third of international syndicated loans and more than a half of the
world's loan trades. Misys Loan IQ is used by leading global financial
institutions to automate, optimise and develop their commercial lending
business. Loan IQ will help NBAD to streamline workflows, increase loan
processing efficiencies and reduce turnaround time.
"The Bank preferred a turnkey product, highly capable of
resolving their operational issues, which will be delivered via our Loan IQ
system. Misys Loan IQ is backed by our 18 years of expertise in the lending
field and has all the functionality needed to meet complex loan trading
transactions." said Roy Froud, Director, Middle East and Africa, Misys.
"We intend to improve efficiency and customer service provided
to corporates and financial institutions that participate in NBAD's
syndicated lending." said Nigel Carrington, NBAD's Divisional Manager of
Operations. "Misys Loan IQ will be a key factor in realising this goal."
Misys Loan IQ covers Origination, Agency Servicing, Loan
Trading, Accounting, Portfolio Management, Treasury, Collateral Management,
Total Return Swaps, Bilateral Lending, and Reporting. The multi-currency and
multi-branch capable solution features a proven scalable technology and
provides comprehensive coverage for bilateral loans and highly structured
syndicated deals. Loan IQ users have reported cost savings of up to 20 per
cent through systems consolidation and reduced headcount.
Misys' leading portfolio of banking and financial products and
services is used by all of the top 50 of the world's banks. For over 30 years
Misys has been providing industry-leading integrated and comprehensive
solutions for retail and corporate banking and treasury operations.
The National Bank of Abu Dhabi (NBAD), The Number One Bank in
the UAE, was incorporated in 1968 and is listed in the Abu Dhabi Securities
Exchange (ADX), under stock code NBAD. The Bank was ranked in the World's 50
Safest Banks in 2009 by Global Finance and recognised as a super brand by
Super brands, the independent authority and arbiter on branding. NBAD
provides financial services to all segments of the consumer and corporate
markets in addition to fund management, brokerage, financial markets,
leasing, property management and private banking businesses. NBAD is an award
winning leader in the UAE and GCC financial services industry.
About Misys plc
Misys plc (LSE: MSY), provides integrated, comprehensive solutions
that deliver significant results to organisations in the financial services
and healthcare industries. We maximise value for our customers by combining
our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with
over 1,200 customers, including all of the world's top 50 banks. In
healthcare, Misys plc owns a controlling stake in NASDAQ-listed
Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision
of healthcare technology, serving more than 150,000 physicians, 700 hospitals
and nearly 7,000 post-acute and homecare organisations. Misys employs around
6,000 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 most important industries in the world.
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 edward.taylor@misys.com Sebastian Mathews Financial Dynamics +44-(0)207-269-7158 sebastian.mathews@fd.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, edward.taylor at misys.com. Sebastian Mathews, Financial Dynamics, +44-(0)207-269-7158, sebastian.mathews at fd.com
Tags: June 14, London, Misys plc, Saudi Arabia, United Kingdom