Bank NISP, one of the largest Indonesian banks with assets of Rp20tn, has announced it will be implementing Misys Banking Systems software to drive significant growth across its treasury and trade finance functions.
Indonesia is poised to be a strong regional economic leader after a period of sustained growth. The Indonesian government committed in 2004 to invest US$150bn in infrastructure projects over a 10-year period to achieve significant economic growth. The first tranche of that investment, over US$50bn, has already been placed. Foreign direct investment has also grown by 70% in the first half of 2005.
Bank NISP, among the first in Indonesia to address the international market, is looking to capitalise on the nation’s strengthening economy and to maintain its rapid growth, which has seen assets grow at an average rate of 40% in the last 10 years. It will integrate its treasury and trade finance operations using two solutions from Misys Banking Systems, Misys Trade Innovation and Misys Opics. The installation of Misys Opics will be one of the first in Asia to use state-of-the art modules re-architected in .NET and will be deployed as a central hub solution supporting three operations within Indonesia.
Misys Opics will equip the bank with a comprehensive front-to-back office, cross asset treasury solution to ensure real-time processing across a wide range of financial instruments including derivatives, foreign exchange and money markets. Misys Trade Innovation will provide the necessary operational and workflow management for the bank’s trade finance operations, helping it drive efficiency and growth in its international banking activity.
Ferdinan Dion, head of corporate affairs at Bank NISP, sees these solutions from Misys Banking Systems as a key pillar in the bank’s strategy for maintaining growth and developing new markets. “The market for trade finance and treasury expertise is growing massively and we want to be able to capitalise on the international business that is coming into Indonesia to support these projects,” he says. “Misys Opics and Misys Trade Innovation will enable us to achieve much higher transaction volumes, more of the processing will be automated, we ‘ll have 95%-plus straight-through processing (STP) and we ‘ll be flexible enough to adapt to a changing market.”
Reid Warren, regional sales manager – South Asia, Misys Banking Systems, says: “Indonesia is a key market for Misys. We are well established in Asia and the partnership with Bank NISP means that we now have over 260 customers in the region. The prospects for growth here are very encouraging and we are pleased that major institutions like Bank NISP are choosing Misys solutions to help them maintain their competitive edge, expand into new markets and improve their business performance.”