New York / London, 23rd July 2004 — Misys Wholesale Banking Systems (Misys), a leading provider of financial software solutions, today announced that KeyBanc Capital Markets, the corporate and investment banking business of KeyCorp, has selected Misys Loan IQ as the software platform for its expanding agency syndication and servicing businesses.

The software will be implemented in multiple phases. With the first phase now complete, the bank is already using Misys Loan IQ for all of their corporate syndicated deals. The subsequent phases of the implementation will see Misys Loan IQ integrated even further into the company’s existing systems to create a single platform that will manage all syndication deals, including real estate. 

KeyBanc Capital Market’s decision to take Misys Loan IQ stemmed from its need for a state-of-the-art, robust foundation to support its aggressive portfolio servicing growth plans. After closely evaluating the functionalities of numerous vendors, and their existing legacy systems, KeyBanc found Misys Loan IQ to be the only product that could introduce quantifiable efficiencies and position their corporate and investment banking business for significant growth.

Amy K. Carlson, Group Head of Key’s Syndicated Finance group, comments: "We have positioned Misys Loan IQ as a  foundation block of our technology and operations infrastructure  because it allows us to dramatically transform and automate our processes to reduce operational costs and provide enhanced service to our clients. For example, due to the software’s ability to define shares at the global level and allocate them pro rata, what was previously a cumbersome transaction process now takes minutes. Ultimately, we couldn’t have asked for a more strategic partner."

Edward Ho, CEO of Misys IQ, said, “We are excited that a major organisation like KeyCorp, one of the largest bank-based financial services companies in the US, has selected Misys Loan IQ as its platform for its agency syndication and servicing business. We are particularly pleased that their decision to choose Misys Loan IQ highlights the solution’s suitability for this particular market and we look forward to supplying other leading lenders with the benefits of our software and services in the future.

Shamira Alidina / Adelaide Harrison
Write Image
+44 (0)20 7959 5400
shamira@write-image.co.uk / adelaide.harrison@write-image.co.uk

Andy Coulter
Head of Marketing & Business Planning
Misys Wholesale Banking Systems
+44 208 897 1188
andy.coulter@misys.com

Some of the world’s largest enterprises are intimately familiar with the power of Misys Loan IQ to transform a cumbersome chain of events into a streamlined, controlled process. The result helps them to achieve greater upside and improved customer service.

About KeyCorp
Cleveland-based KeyCorp is one of the US’s largest bank-based financial services companies, with assets of approximately $84 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.

The company's businesses deliver their products and services through branches and offices; a network of approximately 2,200 ATMs; telephone banking centers 1-800-KEY2YOU® (1-800-539-2968); and a website, Key.com®, that provides account access and financial products 24 hours a day.

About Misys Wholesale Banking SystemsMisys 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 banking, treasury managements services, capital markets, confirmation matching, continuous linked settlement (CLS), ebanking, middleware 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, including 92% of the world's top 50 banks and 56% of the top 250. (Source: The Banker, July 2003).

Misys plc, one of the world's largest software solutions companies, serves customers in the international banking and securities, US healthcare, and UK retail financial services sectors. Employing over 6,000 staff, Misys reported revenues in excess of £1 billion ($1.5 billion) for the year ended 31 May 2003. For more information, visit www.misys.com.