Saudi Hollandi Bank (SHB) has chosen an integrated transaction banking solution from Misys to upgrade its trade finance and cash management online services.

Through its contract with the software developer, SHB aims to broaden its portfolio of cash management services to customers across Saudi Arabia and increase its profile in the trade finance industry within the next two years.

The solution, Misys Portal with Misys TI Plus, will be rolled out in the course of 2013 to help SHB profit more from its trade finance operations, currently the bank’s highest revenue-generating segment. SHB adds that its current system was not able to grow with its requirements.

Misys won the contract after a competitive tender process organised by SHB and involving “several global firms in the financial software market”.

“Misys was able to show us a compelling case for how we can meet our ambitious expansion targets using its software and services and by building a robust back-office engine to enable that desired growth,” says Bernd van Liner, managing director of SHB.

“Misys’s product vision, commitment market leadership to innovation and ability to execute were the decisive factors in this project, which we anticipate bringing great value to our offerings in the years ahead and a great improvement in the service we provide our customers,” he adds.

Misys managing director for the Middle East and South Asia, Maruf Majed explains: “Misys is committed to adding value to SHB’s long-term performance and improving the experience of the bank’s customers across Saudi Arabia.

“Our integrated trade and cash offerings demonstrate how we have invested in our products to ensure that they meet customers’ demands and anticipate changes in today’s dynamic banking landscape. In partnering with SHB, we are excited to be able to set a new standard in the market and contribute to the advancement of the Kingdom’s banking institutions.”