Misys Wholesale Banking Systems today announced the signing of a partnership agreement with Vanda Systems & Communications Holdings Limited (Vanda) to promote its trade services solution, Trade Innovation, in China.

Trade Innovation, the market leading trade services solution, will be packaged and promoted as TI Express to the provincial Chinese banks. Under the terms of the agreement, Misys and Vanda will work closely together to market and implement the solution, as well as develop specific functionality in response to local banking requirements.

Vanda is a leading solutions provider in People's Republic of China, primarily engaged in the business of providing solutions to banking and financial institutions. It is also a member of Hutchison Whampoa Group, which is a leading international conglomerate committed to innovation and technology, with businesses spanning the globe. Vanda has a strong market share in core banking applications and will be enhancing its offering with TI Express.

Mr. Loh Tiak Koon, CEO of Vanda said: "We are pleased to forge the partnership with Misys. Our collaboration with Misys will help develop the international banking business in China. With Misys' leading trade services solution, we can expand the scope of services as well as provide full spectrum international banking solutions to our banking clients. We anticipate the increasing demand for international banking solutions as domestic banks need to reinforce their competitiveness against the fierce competition from foreign banks".

"With our extensive banking client base and technical capabilities, we are confident that the collaboration will further expand Misys' market share in China and realise our revenue potential", added Mr. Loh.

"Misys understands the need to partner with leading organisations to enhance the reach of our solutions, and to ensure that their benefits are fully delivered in compliance with local banking regulations and practices. We are delighted to be partnering with Vanda and believe in the success of our team", said Mr. John Palmiero, General Manager, North Asia, Misys Wholesale Banking Systems.

The partnership has already produced its first results, with Bank International Ningbo,  an Indonesian private bank with branches in Ningbo and Shanghai, recently signing for the solution.

For further information, please contact:

 

Andy Coulter

Head Of Planning

Misys Wholesale Banking Systems

+44 208 879 1188

Adelina Rusu
Regional Marketing Manager, Asia
Misys Wholesale Banking Systems
+65 6416 4092
adelina.rusu@misys.com

Founded in 1982, Vanda Systems & Communications Holdings Limited is a listed company that has been on the main board of the Stock Exchange of Hong Kong since 1995 ("Vanda", stock code: 757). Vanda is a leading IT solutions provider primarily engaged in the business of systems infrastructure and application solutions services. 

It is also a member of Hutchison Whampoa Group, which is a leading international conglomerate committed to innovation and technology with businesses spanning the globe.

Headquartered in Hong Kong, Vanda has an extensive geographical coverage with operations spanning Mainland China, Hong Kong, Macau, Southeast Asian countries including Singapore, Malaysia and the Philippines to the United Kingdom. In Mainland China, Vanda has a strong presence, operating 8 offices in key cities including Beijing, Changchun, Chengdu, Dalian, Guangzhou, Shenzhen, Shanghai and Wuhan.

Vanda is the market leader in China in the provision of systems integration and software applications services in the banking and finance sector. The Group has a client list of over 100 banking institutions.

In Southeast Asia, Vanda has a reseller network of over 300 companies.  Vanda is a premier IT service provider in Asia and is the top three IBM largest business partners in Asia. The group's diverse client base includes major banks, financial institutions, posts and telecommunications companies, utility companies and government departments.

 

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 necessary 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 finance, international banking, treasury & 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, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK retail financial services sectors. The group partners with its customers to deliver outstanding IT solutions to essential industries. For the year ended May 31, 2003, Misys reported revenues in excess of $1.5 billion. Misys employs more than 6,000 people internationally. 

With over 110 live sites across the world and many more in the process of being implemented, Trade Innovation has led the market for trade finance solutions since its launch in 1996. The solution supports a comprehensive range of trade finance products that are easily installed, regardless of the organisation size, and enables streamlined processing, cost reduction and improved customer service. Trade Innovation combines the latest in e-commerce and workflow management techniques, while offering all the benefits of open architecture and user-friendly interfaces.