Dubai – MENA Herald: Misys has been recognised for its work with Habib Bank Limited (HBL) in the cash management and trade finance category of the 2016 Celent Model Bank program. The accolade celebrates the bank’s technology transformation which has unified cash management, trade services and supply chain finance onto a single, integrated digital platform.
Celent’s program recognises excellence in banking technology in helping financial institutions improve performance and meet market demands. It assesses technologies and technology projects across seven categories, with the cash management and trade finance category including treasury management and trade finance transformation, along with corporate digital channel and customer experience innovation.
HBL has been recognised for achieving product innovation through management vision and the strategic deployment of a connected corporate banking architecture using integrated components of the Misys corporate banking platform, Misys FusionBanking Corporate.
Through a unified digital channels application, FusionBanking Corporate Channels, the bank can offer commercial customers a convenient and consistent way to oversee and manage their global financial activity and cash positions from a single online location. As a result, the business is on track to grow its corporate client base by 65%. The common ebanking platform tightly integrates with the best-of-breed trade and supply chain finance and core banking applications of FusionBanking Corporate, resulting in a simplified IT landscape to better service and innovate for its corporate banking clients.
“We’re honoured that this key project has been recognised by Celent for its 2016 Model Bank research,” said Fareed Hosain, Chief Information Officer at HBL. “Our existing relationship with Misys, coupled with its flexible implementation approach, has meant that we’ve been able to quickly re-prioritise feature development as market and client needs change. The HBL and Misys teams worked cohesively and collaboratively, identifying the delivery of new services during the application design process and delivering the project on time and within budget.”
With a global presence in over 25 countries spanning across four continents, HBL is the largest private sector bank in Pakistan. It is also the largest provider of corporate banking services in Pakistan, with between 200 and 300 corporate clients, and a target of growing its customer base to 500 corporate clients over a three-year period. With the bank’s prior online platform, customers could make basic payments but had to go into branch for other services.
By working with Misys, HBL now offers a broader range of cash management and working capital solutions to its corporate clients. Relationship managers are able to focus on value-added services, rather than operational processing and transaction servicing.
“Our relationship with HBL goes back over many years. We are delighted that the bank has chosen us to support its vision to become a connected corporate bank, and as such is testament to the strength of our corporate banking solution,” said Simon Paris, President, Misys. “Working with Misys, HBL can reduce complexity and enable innovation to offer a broader range of cash management and working capital solutions to its corporate clients. HBL relationship managers will now be free to focus on value-added services, rather than operational processing and transaction servicing. HBL is one of the innovators in its sector and we look forward to helping the bank continue optimising its corporate banking business.”