London & Singapore, 30th November 2004 – Misys Wholesale Banking Systems (Misys) are pleased to announce that Bank of India (BOI), the first of 17 new Misys MidasPlus customers, has gone live and on schedule.  Centering its operations in Singapore, BOI will roll out Misys MidasPlus with Global Processing across 19 branches and seven time zones.  The bank’s implementation is a large and advanced deployment of the Misys MidasPlus with Global Processing solution.  

Misys MidasPlus provides the bank with a vast array of functionality, all centrally managed.  BOI will benefit from a single, real-time, consolidated view of its worldwide business.  This includes transaction processing across treasury and capital markets, commercial lending, trade finance, payments and retail services with straight-through processing capabilities.  With Misys MidasPlus, BOI aims to have uniform business practices and global data-mining capabilities across its international operations and business lines. The solution also gives BOI the ability to have a common core banking system across various geographies running on a centralised infrastructure and a single J2EE technology architecture.

Andrew White, Chief Executive Officer of Misys Wholesale Banking Systems, comments: “The successful and on-time implementation of the Bank of India project is a true reflection of the strong teamwork and partnership between Misys and BOI.  Misys MidasPlus represents the most advanced banking application in the market today.  It has been developed and built on the most reliable foundations in the industry and with our product and market knowledge and professional services expertise we were able to provide the competitive advantage that BOI was looking for.”

BOI is actively working on the foreign branch rollout, scheduled for completion in the next year. Mr. D. Krishnamurthy, General Manager-Information Technology, Bank of India, comments, “We are very pleased with the progress of the MidasPlus with Global Processing implementation. Excellent teamwork with our own project teams and extensive support for the solution has meant a timely rollout and a successful live system. We now look forward to working with Misys in the future.”

Andrew White adds, “Misys is the only vendor that provides a credible answer to banks’ Global Processing needs.  Misys MidasPlus reinforces Misys’ position as the preferred and most trusted banking vendor in international markets.  With BOI as the first implementation site now live, we look forward to working with more customers on Misys MidasPlus with Global processing over the coming year.”

For further information, please contact:Edward Taylor / Jo Brice
Financial Dynamics
+44 (0)20 7269 7295 / 7246
edward.taylor@fd.com or jo.brice@fd.com

Trevor LaFleche
Product Marketing Manager, Misys MidasPlus
Misys Wholesale Banking Systems
+44 208 486 1738
trevor.lafleche@misys.com

About Misys Wholesale Banking Systems
Misys Wholesale Banking Systems is a trusted provider of innovative technology solutions: over 1,000 employees in 30 offices around the world have built up the domain expertise to deliver world-class solutions with an understanding of local requirements. Misys Wholesale Banking Systems' staff are committed to developing and supporting a product family that embraces trade services, international & regional banking, managed treasury services, capital markets, confirmation matching, continuous linked settlement (CLS), multi-channel banking, commercial lending, FX trading, cash management and financial messaging.

Misys Wholesale Banking Systems is part of Misys plc’s Banking & Securities Division, which serves over 1,200 customers across more than 120 countries worldwide, including 90% of the world's top 50 banks (Source: The Banker, July 2004).

Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries.  Through a wholly owned subsidiary, Sesame, it also provides business process outsourcing services to independent financial advisors (IFAs) in the UK.  Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs more than 6,100 people internationally.

About Bank of India
Bank of India was founded in September 1906. It has more than 2,500 branches in India spread across all states/union territories, including 93 specialised branches. While firmly adhering to a policy of prudence and caution, the Bank has been in the forefront of introducing various innovative services and systems. Business has been conducted with the successful blend of traditional values and ethics and the most modern infrastructure. The Bank has been the first among the nationalised banks to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. The Bank is also a Founder Member of SWIFT in India.