A steady demand for Misys Banking System’s products and solutions has resulted in a 40 percent rise in the company’s revenue in China during the 2005/2006 financial year.
The derivatives market in China’s demand for up-to-date products, explains the company’s sudden growth, says Murray Sargant, managing director of treasury and capital markets Asia for Misys. “As the local market becomes more and more attractive to investors, we have seen a sharp rise in demand for our specialist treasury and capital markets solutions, particularly Misys Summit, Misys Opics and Misys Opics Plus,” Sargant adds. “These products enable banks to generate significant profits by becoming involved in more complex trading. There is huge growth potential in areas such as FX, credit derivatives and structured products trading.”
Along with global trends, the banking software market in China is seeking well-established technology to facilitate growth, he says. “Working with top level banks and institutions in China, we have seen significant advances in this sector and we expect it to continue as banks grow and mature their operations,” Sargant adds. “Throughout the industry, technology is playing a significant role in providing a scalable platform for continued expansion and enabling banks to meet international regulatory and compliance standards.”
Misys, stationed in Beijing, has heavily invested in China and Hong Kong, and now serves the top five domestic banks and more than ten key global, state, regional and local companies.
Misys client China Merchants Bank, the largest credit card issuing bank in China, recently went live with Misys Opics Risk, a portfolio management application.
The new product has been integrated with Bloomberg, Reuters, and Bank Nostro, as well as CMB’s retail foreign exchange system to give clients market information on prices and deals.
“The Misys Opics Risk solution was a natural choice for us,” says Liu Xiao-La, Assistant general manager, treasury of China Merchant Bank. “We have a large international network of branches, across China and the US, as well as our online Internet banking operation. When we looked at other solutions on the market none came close to having the breadth of functionality that Misys offered. This, along with a deep knowledge of our sector and market made Misys an ideal partner for us and we are looking forward to continuing our relationship with them in the months and years to come.”