Philippine National Bank Expands its Treasury Business

PR Newswire | 05 Aug, 2010

LONDON: Misys plc, the global application software and services company, today announced that Philippine National Bank (PNB) has agreed to implement Misys Opics Plus 3.0, Opics Risk Plus and Eagleye to drive efficiencies as it expands its treasury business. The integrated solution will allow the bank to manage and grow its treasury operations more efficiently, keeping market risk low as it seeks new business opportunities in increasingly diverse asset classes.

PNB, originally established in 1916, is one of the largest banks in the Philippines in terms of assets. Having been a Misys Opics customer since 2003, PNB was keen to take advantage of the latest release of Misys Opics Plus. The new solution, along with Opics Risk Plus and Misys Eagleye, will enable PNB to improve its treasury business, risk management and portfolio management.

PNB has a vision to be a leader in financial performance and through this it has a particular focus on innovation and the use of cutting-edge technology. It wanted a solution that would enable it to move into derivatives and structured products as it looks to respond rapidly to changing market conditions and customer preferences. PNB will be able to improve exposure management by pooling risk exposure centrally in order to manage the process better. Additionally, the commercial bank will improve its market risk management capabilities through enhanced reporting tools and better controls across the business from the front to the back office.

Lee Boon Huat, Managing Director Asia Pacific, Misys added, "We are thrilled to be working with PNB as it enters the latest phase of its development. This represents the first implementation of the latest version of Misys Opics Plus in the Philippines. Misys has more than 360 customers in Asia Pacific, leveraging our industry-leading solutions, local knowledge and expertise that are required to implement complex treasury products to manage volumes across multiple asset classes."

Misys has 31 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.

About Misys plc

Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.

In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys plc owns a controlling stake in NASDAQ-listed Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 people who serve customers in more than 120 countries.

We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.

Misys: experience, solutions, results

About Philippine National Bank

Philippine National Bank (PNB) is one of the biggest private commercials banks in the Philippines. Its distribution network is one of the most extensive with 324 domestic branches and 112 overseas branches, offices and subsidiaries. It enjoys a strong franchise in its core businesses which includes retail banking, corporate, institutional and consumer lending, remittance, and treasury. Earlier this year, PNB received the Financial Insights Innovation Award for Channels Innovation for its pioneering Automated Remittance Machines in the annual Asian Financial Services Congress held In Singapore. The Bank was the sole winner from the Philippines out of 10 awardees in this annual search for outstanding innovations in the Asia-Pacific region by the IDC Financial Insights.

    For further information please contact

    Edward Taylor
    Global Head of Public Relations
    Misys
    Solutions for Banking and Treasury & Capital Markets
    +44(0)20-3320-5530
    edward.taylor@misys.com

    Irene Tan
    Head of Marketing, Asia Pacific
    Misys
    Solutions for Banking and Treasury & Capital Markets
    +63(2)867-9579
    irene.tan@misys.com

    Sebastian Mathews
    FD
    +44(0)20-7269-7158
    sebastian.mathews@fd.com

SOURCE Misys plc