Beijing City Commercial Bank (BCCB) has selected OPICS, Misys Wholesale Banking Systems “treasury, derivatives and capital markets solution, and Trade Innovation, its trade services solution, as a solution to help the bank meet its ambitious growth objectives. The deal has been secured through Misys “partner, Singlee Software Group.
BCCB, a joint-stock commercial bank with 110 branches across the Chinese capital, has selected the software from Misys to modernise its treasury environment and streamline its trade finance operations in one complete and fully integrated solution.
The bank has licensed OPICSExpress, the off-the-shelf version of OPICS, specifically tailored for the needs of city commercial banks, for its treasury department. Together with Trade Innovation, the market leading trade services solution, the software will support the bank’s increased volumes, values and sophistication of transactions, associated operational issues and will provide better risk management controls. The most immediate business benefits that will be delivered by the integrated solution are increased flexibility, higher efficiency and accuracy, smoother transaction flow and lower levels of operational risk.
BCCB’s vice-president, Zhao Rui An, comments: “With Misys “solution, we selected the best of both worlds in a completely integrated solution: OPICS and Trade Innovation together give us the most comprehensive answer to our business requirements. We have made our decision at the end of a stringent evaluation process of five vendors, over a five-month period, and we concluded that Misys and Singlee are best equipped to assist us meet our objectives: to strengthen our competitiveness and to create a famous brand with leading service.”
John Palmiero, Misys “general manager for North Asia, adds: “We are delighted to be working with BCCB and Singlee on this exciting project. We are very pleased to help the bank meet its strategic objectives, and our partnership with Singlee ensures that the solution’s benefits are fully delivered in compliance with local banking regulations and practices. Misys has a proven track record of delivering successful projects in China for the past 10 years and we are confident that our partnership with BCCB will strengthen this achievement.”