NBAD Strengthens Lending Operations With Misys Loan IQ

By Misys Plc, PRNE
Tuesday, August 16, 2011

DUBAI, United Arab Emirates, August 17, 2011 -

Leading UAE bank goes live with Misys Loan IQ
to enhance efficiency and improve customer service

Misys plc (FTSE: MSY.L), the global application software and services company, today announced that the National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has gone live with Misys Loan IQ. The commercial lending solution from Misys was implemented in less than a year and now enables NBAD to streamline workflows, increase loan processing efficiencies and reduce turnaround time for its lending business.

NBAD, the UAE’s largest bank by market capitalisation, chose Misys Loan IQ to change from a paper-based system to an automated solution. The bank has integrated Loan IQ seamlessly with the bank’s existing mission-critical applications in collaboration with the Misys implementation team. Loan IQ’s market-leading functionality enables NBAD to streamline multiple business areas including credit management, risk control, compliance and portfolio management.

“We needed the most advanced solution on the market that would help us to manage workflow effectively across every stage of the loan lifecycle,” said Nigel Carrington, the Head of Operations at the National Bank of Abu Dhabi. “We also wanted to improve efficiency and the customer service provided to corporates and financial institutions that participate in NBAD’s syndicated loans. Misys Loan IQ has been able to deliver these capabilities and will help us to grow business volumes while equipping us to react faster to changing market and customer requirements.”

Misys Loan IQ continues to gain traction across the banking and financial services industry in Middle East and Africa as it enables significant cost savings of up to 40% through systems consolidation and increased straight-through processing in syndicated lending.

Michel Daenen, Sales Director, Misys Treasury and Capital Markets solutions practice, Middle East and Africa, says: “We are committed to providing cutting-edge solutions that deliver real business value to our customers. Loan IQ, is helping NBAD to control, optimise and effectively manage and grow its commercial lending business from a single platform, resulting in a unique straight through processing solution. We look forward, after the successful implementation done in less than one year, to continue to work with the bank’s staff to ensure they remain at the forefront of the region’s banking industry. As our business grows and our world class solutions are chosen by similar forward-thinking institutions, Misys is well positioned to maintain its leading position in the Middle East financial services sector.”

Misys Loan IQ currently processes over a third of international syndicated loans and more than a half of the world’s loan trades. With multi-currency, multi-branch capabilities, industry leading workflows and robust functionality, Misys Loan IQ is designed to maximise an organisation’s commercial lending business today and in the future.

About National Bank of Abu Dhabi (NBAD)

The National Bank of Abu Dhabi (NBAD), The Number One Bank in UAE, was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD). Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents. NBAD has a network of 113 branches and more than 450 ATMs to provide banking services to customers all over the UAE. Besides brick & mortar branches, NBAD provides 24 hour internet banking access through NbadOnline and NbadDirect, the SMS-based payment service (Arrow) as well as account access and personalised customer support through its 24-hour Call Centre.

NBAD’s overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE. NBAD provides its customers with a wide variety of financial services targeting all segments of the consumer and corporate markets. NBAD is rated senior long term/short term A+/A-1 by Standard and Poor’s, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.

About Misys plc

Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to financial services organizations. We maximize 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 work 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 competitive edge.

Misys: experience, solutions, results

Contact us today, visit:

For further enquires, please contact:

Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190

For further information, please contact:

Jassim Arif
Memac Ogilvy
Tel: +971-4-3050310

Edward Taylor
Tel: +44(0)203320-5530
Email: edward.taylor@misys,com


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