Misys Wholesale Banking Systems (Misys) has integrated Misys Trade Innovation with Misys eServices Platform Trade Edition to deliver an application designed to support straight-through processing (STP) in trade finance.
Misys says that the Internet means banks are increasingly re-thinking their corporate services strategy.” At the same time, trade customers are increasingly demanding faster, more automated, paperless trade services environments,” says a spokesman. “Speed and accuracy are the keys to a bank’s productivity. With this innovation, Misys is delivering the front-office and back-office as one solution for its customers, aligned with their strategic requirements for increased STP.”
Misys Trade Innovation is a trade services solution and the new Misys eServices Platform Trade Edition is a front-office application. The combination aims to enable banks to give their corporate clients a robust and easy to deploy Internet-based application for the online management of trade finance instruments such as Letters of Credit and their underlying documentation.
“Our customers need to be able to monitor the profitability of their trade services activity very closely,” says Jerry Luckett, Director of Product & Strategy at Misys Wholesale Banking Systems. “Trade finance must be one of the most paper-intensive business areas in wholesale banking. Banks require accurate data management in trade finance and an integrated front-to-back solution can decrease operational risk and cost. Misys can now offer such an out-of-the-box, single, proven solution from an experienced supplier they can trust.”