City Networks and its strategic partner Misys say HypoVereinsbank (HVB) is to implement the latest version of Misys’s Midas Confirmation Matching solution, which is supported by City Networks’s CityNet Matching.
The implementation at HVB was brokered by Misys and is currently taking place at its London operation. The upgraded solution will be installed at all of the bank’s treasury processing and matching branches, including New York, Singapore, Tokyo and Athens.
HVB is one of the largest Misys customers using its Midas Confirmation Matching solution, and the matching system provides a facility to automate confirmation matching requirements. Once implemented, the matching tool will be used in conjunction with existing City Networks implementations of CityNet Reconciliation and CityNet Investigation, providing the bank with a fully integrated and scalable back office solution.
“We are constantly striving to implement technology that is fully scalable and that provides us with optimum functionality in order to offer the best possible service to our customers,” says John Bevil, Head of FX/MM Confirmations and STP at HypoVereinsbank. “It is therefore important to us that our operational infrastructure is of the highest standard, and that we operate as efficiently as possible, reducing manual input and removing operational risk from the back office process.”
Nick Russen, Director, Partners and Distributors at City Networks, says the HVB deal is the fourth upgrade sale in conjunction with Misys in the last year. “We are extremely pleased that the partner relationship between our two companies is resulting in bringing significant benefits to our clients,” he says. “Our combined expertise greatly reduces operational risk for our clients, and I look forward to further developing solutions that are of strategic importance to our customers as our partnership progresses.”