Oman Arab Bank underpins expansion plans with the latest version of Misys Equation
First Middle East bank to benefit from Misys Equation 3.9
29 April 2008 – Misys plc (FTSE: MSY.L), the global application software and services company, today announced that Oman Arab Bank will be the first Middle East Bank to go live with Misys Equation 3.9, the latest version of its widely-used retail banking system.
Installed in the bank’s headquarters in Muscat, Misys Equation is running Oman Arab Bank’s back-office operations in all 40 branches throughout the country. The latest version of Misys’ globally-implemented retail banking solution features a number of key functional improvements, and through this upgrade, the bank will be able to extend its coverage in the region and provide better services to more customers as it continues to expand operations.
Mustafa Srour, Oman Arab Bank’s Assistant General Manager, IT, comments, “We have aggressive expansion plans for our business and we needed the most up-to-date solution to underpin our move to open further branches within our network. We have benefited from Misys technology and expertise for more than 20 years and we are very excited to have implemented the very latest version of Misys Equation to increase our flexibility and stability as we continue to grow.”
Oman Arab Bank will benefit from the increased flexibility Misys Equation 3.9 provides as well as its enhanced lending capabilities. The bank’s customers will be able to benefit from more choice in the products and services available to them and will see a faster response time in all interactions with the bank wherever they are in the region.
Roy Froud, General Manager Middle East & Africa, Misys, adds, “The management team at Oman Arab Bank has consistently focused on improving customer service and differentiating themselves from the competition. We are delighted to be able to support them as they continue to grow their business. This latest, most advanced version of Misys Equation brings them stability, speed, ease of integration and an increase in performance that will help them maintain their leading position in the region.”
For further information please contact
Edward Taylor
Global Head of Public Relations
Misys Banking
+44 (0) 208 486 1661
edward.taylor@misys.com
Caroline Parker
Financial Dynamics
+44 (0) 207 269 7295
caroline.parker@fd.com
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 is a market leader, serving more than 110,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 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.
