Philippine Veterans Bank to Support Growth Plans by Licensing Misys BankFusion EquationBy Misys Plc, PRNE
Sunday, April 17, 2011
LONDON, April 18, 2011 - Misys plc (LSE: MSY), the global application software and
services company, announces today that Philippine Veterans Bank is upgrading
to BankFusion Equation to support the growth of its consumer banking, trade
finance and lending business.
Philippine Veterans Bank (PVB) has been a Misys customer for
ten years, benefiting from its solutions in its banking branches, covering
treasury, accounting and financial reporting. One of the bank's goals is to
grow transaction volumes to match the demands of the business, particularly
in the area of government agencies and local government units lending. In
line with this expected growth, the bank's management was looking to automate
processes, improve productivity and drive down the cost/income ratio to cater
for the increased demands on operations.
By upgrading to Misys BankFusion Equation, PVB will be able to
tailor and modify business processes to its exact requirements, no longer
constrained by the underlying technology. The solution fully integrates loan
and deposit cash management processes from origination through to the back
PVB has licensed the core banking system as well as the
BankFusion Workbench, the application development environment which enables
the bank to build artefacts and assemble them into process models.
"Misys has a truly unique solution that will help us build our
business," comments Ricardo A. Balbido Jr, President of Philippine Veterans
Bank. "We needed a system that could enable our team to deliver on our
ambitious growth objectives, allowing them to tailor processes easily and
shape the way we meet the demands of our customers with new products and
services. We look forward to BankFusion Equation supporting us as we move the
"We are delighted that PVB has decided to take advantage of
the very latest version of Misys' core banking system, BankFusion Equation,"
adds Lee Boon Huat, Asia Pacific Managing Director, Misys. "Our revolutionary
BankFusion platform will deliver re-usable components to PVB, bringing the
bank the flexibility it needs for the future."
PVB has licensed an integrated solution comprising Misys
BankFusion Equation, Opics Plus, TI Plus and Message Manager. It strengthens
PVB's core processing, lending, treasury and trade finance capabilities and
provides a superior foundation on which to build and grow in the future.
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 Financial Dynamics +44(0)207-269-7158 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, Financial Dynamics, +44(0)207-269-7158, sebastian.mathews at fd.com
Tags: April 18, London, Misys plc, United Kingdom