LONDON, June 14, 2010
- Lending Solution Reduces Costs by as Much as 20 Per Cent and ImprovesLoan Turnaround Time and Efficiency
Misys PLC, a global provider of application software and services for thebanking and financial industry, has announced that the National Bank of AbuDhabi (NBAD) will deploy its commercial lending solution, Misys Loan IQ, forits loan operations.
"The solution proposed by Misys will provide the bank with market-leadingfunctionality that addresses each area of the bank's requirements from theStructured Finance Team, Credit Management, Risk Control, Accounting andCompliance and Portfolio Management. It will also enable NBAD to capitaliseon the unparalleled commercial lending expertise that Misys has gained fromworking with the top financial institutions worldwide," said Kevin Hayden,Treasury & Capital Markets Operations Director, Middle East and Africa, Misys.
NBAD, the UAE's largest bank by market capitalisation, commissioned Misysto suggest a robust and scalable solution for its lending-related back-officeoperations. Misys Loan IQ currently processes over a third of internationalsyndicated loans and more than a half of the world's loan trades. Misys LoanIQ is used by leading global financial institutions to automate, optimise anddevelop their commercial lending business. Loan IQ will help NBAD tostreamline workflows, increase loan processing efficiencies and reduceturnaround time.
"The Bank preferred a turnkey product, highly capable of resolving theiroperational issues, which will be delivered via our Loan IQ system. MisysLoan IQ is backed by our 18 years of expertise in the lending field and hasall the functionality needed to meet complex loan trading transactions." saidRoy Froud, Director, Middle East and Africa, Misys.
"We intend to improve efficiency and customer service provided tocorporates and financial institutions that participate in NBAD's syndicatedlending." said Nigel Carrington, NBAD's Divisional Manager of Operations."Misys Loan IQ will be a key factor in realising this goal."
Misys Loan IQ covers Origination, Agency Servicing, Loan Trading,Accounting, Portfolio Management, Treasury, Collateral Management, TotalReturn Swaps, Bilateral Lending, and Reporting. The multi-currency andmulti-branch capable solution features a proven scalable technology andprovides comprehensive coverage for bilateral loans and highly structuredsyndicated deals. Loan IQ users have reported cost savings of up to 20 percent through systems consolidation and reduced headcount.
Misys' leading portfolio of banking and financial products and servicesis used by all of the top 50 of the world's banks. For over 30 years Misyshas been providing industry-leading integrated and comprehensive solutionsfor retail and corporate banking and treasury operations.
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE,was incorporated in 1968 and is listed in the Abu Dhabi Securities Exchange(ADX), under stock code NBAD. The Bank was ranked in the World's 50 SafestBanks in 2009 by Global Finance and recognised as a super brand by Superbrands, the independent authority and arbiter on branding. NBAD providesfinancial services to all segments of the consumer and corporate markets inaddition to fund management, brokerage, financial markets, leasing, propertymanagement and private banking businesses. NBAD is an award winning leader inthe UAE and GCC financial services industry.
About Misys plc
Misys plc (LSE: MSY), provides integrated, comprehensive solutions thatdeliver significant results to organisations in the financial services andhealthcare industries. We maximise value for our customers by combining ourdeep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, withover 1,200 customers, including all of the world's top 50 banks. Inhealthcare, Misys plc owns a controlling stake in NASDAQ-listedAllscripts-Misys Healthcare Solutions, Inc, a clear leader in the provisionof healthcare technology, serving more than 150,000 physicians, 700 hospitalsand nearly 7,000 post-acute and homecare organisations. Misys employs around6,000 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and servicescompany, delivering results for the most important industries in the world.Misys: experience, solutions, results Contact us today, visit: http://www.misys.com For further information please contact: Edward Taylor Global Head of Public Relations Misys Solutions for Banking and Treasury & Capital Markets +44-(0)20-3320-5530 [email protected]
Sebastian Mathews Financial Dynamics +44-(0)207-269-7158 [email protected]
SOURCE Misys plc