Misys, the global provider of treasury, capital markets and banking software solutions, has opened a center of excellence office in Beijing, the newest of six such facilities the firm has worldwide.
With more than half its employees based in Asia, and servicing almost 400 customers in the region, the company has had a presence in Chine since 1993 and in Asia broadly for more than 30 years. In the past year alone, Misys says its employee base in China has doubled, and it plans to add 300 more employees in the country in the next year to service its expanding customer base in the region. The firm has more than 40 customers in China, including Agricultural Bank of China, Bank of Communications, Bank of China, China Construction Bank, China Development Bank, China Everbright Bank and Industrial and Commercial Bank of China. It has recently signed on Shanghai Pudong Development Bank, Shin Han Bank, Harbin Bank, China Bond Insurance Company, Chinese Mercantile Bank and Ning Bo Bank in the country.
Misys says it invests approximately 20% of its global revenues back into research and development each year, and the new center will allow it to design and develop solutions to address local market requirements and service its expanding client base in China and the Asia Pacific region.
We have been a committed partner to Chinas rapidly growing financial services sector for nearly two decades, working alongside all the leading players, says Misys CEO Mike Lawrie. The opening of our new center of excellence in Beijing is extremely exciting as it reinforces our long-standing commitment to R&D and means that we can take our local investment and market knowledge to serve Chinese and international banks more effectively in the country.
Ed Ho, executive vice president and general manager of Misys Treasury and Capital Markets division, adds: The financial services sector in China is facing many of the same challenges as clients in other regions, such as increased regulatory scrutiny as a result of Basel III. We have been able to provide financial institutions in China with comprehensive solutions to deliver a high standard of risk management systems in response to the China Banking Regulatory Commissions requirements. Another example is how we have supported the roll out of innovative structured products with our award-winning derivatives trading solution, which allows far more sophisticated functions than traditional systems.
(CG)