Bank Internasional Indonesia (BII), one of the largest banks in Indonesia, has selected Misys Opics and Misys Message Manager products to provide a front-to-back-office system. The bank selected the products to meet new business requirements that call for a wider portfolio of more complex financial products, such as foreign exchange, fixed income, derivatives and structured products. In addition, they form a critical part of the bank’s strategy to address regulatory compliance issues and achieve better automation of its operations. Misys has also won business with the Savings Bank of Albania, recently taken over by Raiffeisen International and now renamed Raiffeisen Bank. The bank has completed the installation of Misys Midas for its Albanian operations. The bank already uses Misys Midas in nine locations of its international bank network, which includes seven sites in Central and Eastern Europe. To comply with Raiffeisen International Group standards, the bank needed to replace the incumbent system with a solution that complied with western banking standards and had the security and integration capabilities to allow the bank to develop its business rapidly across the local banking market.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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