Trade Bank of Iraq, the government owned commercial bank, has selected an integrated application from Misys to help expand its business aggressively into universal banking
The agreement includes an upgrade to the latest version of Misys core banking system Equation, integrated with the newest version of Trade Innovation (Misys TI Plus 2.0) and its branch automation software, Equation Branch Automation (EBA). The combined application will be implemented at the banks head office in Baghdad and will improve the service delivered by the bank to its customers, as well as allowing further integration with new banking channels, including Internet banking and ATMs
As part of its drive towards stability, Iraq is focused on developing a strong and internationally functioning economy. Two industries are important in supporting that goal; a strong international trade finance capability and a modern branch network within the country. Trade Bank of Iraq (TBI), the institution charged with facilitating Iraqs international trade and reconstruction programme is taking advantage of Misys award winning solutions to strengthen its capabilities. TBI currently has 6 branches with the plan to roll out more branches in Baghdad as well as more throughout the country.
“Our reputation is built on excellence performance and we continue to exceed performance expectations. Selecting a company with Misys pedigree and experience is important in helping us achieve our ambitions,” says Hussein Al-Uzri, chairman, Trade Bank of Iraq. “Thus, through an open trade and investment regime, an investor-friendly business environment is dawning. This will confirm our position as one of the biggest and most successful trade finance banks in the Middle East.”
“Trade Bank of Iraq is playing an important role in helping with the economic rehabilitation of Iraq,” says Roy Froud, head of Middle East and Africa, Misys Banking. “The strength of the Misys solution and our experience in retail banking and trade finance were important factors in our winning the contract.”
D.C.