Misys launches Global Back Office to streamline operations
Misys launches Global Back Office to streamline operations and ensure bank-wide consistency Industry survey reveals potential cost savings of up to 50% from implementing a single back office system 16 September 2013 – Misys has unveiled Misys Global Back Office at Sibos in Dubai. Now available, this global component is part of Misys Capital Markets Fusion and centralises and consolidates all operational processing across asset classes, trading systems and branches globally, streamlining back office operations for users and improving straight-through processing (STP) while reducing costs and operational risk. Against a backdrop of regulatory change and market transformation that impacts the treasury and capital markets, participants are becoming progressively more focused on how they achieve company-wide consistency to reduce risk and ensure regulatory compliance. The product has been built with a single data repository at its core, achieving the utopia of the ‘single version of truth’, so essential to meeting regulatory requirements and providing operational risk control effectively. “Misys Global Back Office, we believe, will allow us to centralise and consolidate all operational processing across our branches and subsidiaries,” comments James Leach, COO of Maple Bank GmbH. “We expect to see a real impact on our business as a result, with significant cost savings, more streamlined operations and improved straight-through processing.” The Misys Global Back Office enables activities across assets to be handled in a consistent way, using standardised workflows, banks can ensure that best practice is enforced throughout their global capital markets business. Uniquely, the Misys Global Back Office is open to all trading systems, from Misys and any other providers including in-house systems, allowing for streamlining processes and transactions, reducing costs and operational risk, with the benefit of enhanced visibility and regulatory reporting across all positions. Misys Global Back Office provides the advanced STP, connectivity to CCPs, comprehensive trade repository and proven, cross-asset collateral and margin management needed to enable banks to support central clearing and manage the complexity of multi-participant workflow. “The financial crisis has created an environment whereby technology users are required to be more agile, while equally IT systems must be rationalised to keep control on budget, but remain compliant in line with regulations such as EMIR and Basel III,” said Joerg Heidtmann, Head of Capital Markets Product Management at Misys. “Misys Global Back Office will enable our customers to have market leading back office operations according to best practices, which also gives insights of upcoming changes and allows them to consolidate and rationalise their costs across systems, demonstrating significant ROI.” Misys Global Back Office includes seamless integration with counterparties, brokers and clearers, streamlining connectivity and improving regulatory compliance by offering a scalable and rapid integration process that provides real-time reporting functions, error tracking and alerting, and a large set of standard connectivity to the very latest market services. More information on Misys Capital Markets Fusion and Misys Global Back Office can be found at: http://capitalmarkets.misys.com - Ends For further information please contact: Edward Taylor Global Head of Public Relations Misys +44 (0)20 3320 5530 [email protected] Ian Burge/Charlie Morrow Cognito +44 (0)20 7426 9400 [email protected] About Misys Misys provides the broadest portfolio of banking, treasury, trading and risk management solutions available on the market. More than 1,900 banks and financial institutions use Misys software to run their businesses, all benefitting from the continual investment in innovation and product quality. Misys solutions create value across banking and trading book operations, underpinned by the deep domain expertise and experience of Misys employees and partners who help ensure customers get maximum benefit from the solutions and operate more effectively. With high quality products and support Misys customers are able to grow and protect their long-term technology investments. Misys has the broadest range of solutions available to meet the most complex requirements. Visit www.misys.com to see how Misys and its extensive network of partners can add value to the financial services industry. About Maple Bank GmbH Maple Bank GmbH is a wholly owned subsidiary of Maple Financial Group Inc., a privately held financial services provider with its head office in Toronto, Canada. Maple Bank is a fully licensed deposit taking bank based in Frankfurt which is regulated by BaFin and a member of the German Deposit Protection Fund. The bank has a branch in Toronto, and owns regulated broker dealers in London-UK, New Jersey-USA, and Toronto. Maple is engaged in customer and proprietary business.