BOI rolls out pacakaged core banking system across the world

Mumbai, June 1, (UNI) Misys Banking Systems today announced that Bank of India (BOI) has rolled out Misys Midas Plus for its 16 international branch-banking operations.

This is the first time that a bank has rolled out a packaged core banking system across three continents managing processes from a single hub, a release issued here today said.

Centering its operations in Singapore, BOI has implemented Misys Midas Plus with Global Processing across 16 branches and seven time zones, covering its operations in the US, UK, France, Cayman Islands, Singapore, Hong Kong and Japan, the release said. Misys Midas Plus provides BOI with a single, real-time, consolidated view of its worldwide business, with all functionality managed centrally. This includes transaction processing across treasury and capital markets, commercial lending, trade finance, payments and retail services with straight-through processing capabilities, the release added.

BOI has unified its business practices and global data-mining capabilities across its international operations and business lines by implementing Misys Midas Plus. The solution also gives BOI the ability to have a common core banking system across different geographies running on a centralised infrastructure and single J2EE technology architecture.

Misys India's Development Head Vibhakar Bhushan said, ''The success of this project has been thanks to the visionary IT and executive team at Bank of India. They saw the opportunity to forge ahead of their competition by implementing a core banking system across their network of branches.'' UNI AR MJ AG1532