Bank of Ningbo taps into Misys processing solutions

Ningbo goes live with Misys Opics Plus to manage increased trade volumes, strengthen risk practices and to develop derivative business. Bank of Ningbo Co, one of China’s leading publicly-listed city commercial banks, has successfully implemented a powerful trade processing solution at its Ningbo headquarters by Misys, the global application software and services company. Officials at Bank of Ningbo took the decision to strengthen the bank’s operations in February 2008 as a result of higher volumes of transactions in its capital markets business, and invested in new technology to reduce the need for traders to manually monitor transactions, and to develop derivative products and grow its market share. The bank has gone live on Misys Opics Plus, a comprehensive treasury and capital markets solution for front-to-back office, cross-asset processing of a wide range of financial instruments. The platform handles vanilla and complex derivatives, fixed income, and equity and treasury trades.The Misys solution will be used in the bank for a wide ranging number of functions including deposit and loan deal, fixed income deals, swap deals and foreign currency business. More significantly, it has allowed Bank of Ningbo to achieve the derivative financial product transaction business license granted by China Banking Regulatory Commission. A spokesperson for the bank comments: “Market conditions are tough, so it is important to have efficient, reliable financial operating systems to make sure we are maximising operational efficiency and minimising risk. This investment gives us clear visibility across financial instruments and across different departments. The open architecture of Misys Opics Plus has also made the full integration of this system into our working practices straightforward.”Bank of Ningbo evaluated a range of software products from several software companies before signing Misys to help support its business. The bank was impressed by Misys’ proven track record of delivering software solutions in China, the rich functionality of Misys cross-asset trade processing solutions, and Misys’ strong services division. Sunny Leung, Head of Sales, Misys Solutions for Treasury & Capital Markets, North Asia Region, adds: “Misys Opics Plus provides an intuitive user interface, which is designed to offer improved levels of flexibility and adaptability, and the customizable desktop that can be tailored to the preferences of both individuals and groups of user is a key component of the new software.” Misys Solutions for Treasury & Capital Markets has 19 years of market experience and unrivalled software development expertise, creating integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes. Misys provides software solutions and services to the top five banks in China.

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