Qatar National Bank (QNB) has chosen Misys International Banking Systems' Equation universal banking solution to support its retail operations.
Under the multi-million dollar deal, the bank will deploy Misys' Equation retail banking and branch automation platform, Trade Innovation which will support international trade finance transactions, and Opics treasury components. Misys’ recently launched WebForm intranet-based reporting tool will be used to improve reporting, budgeting and MIS. The vendor's Meridian middleware platform will be used to integrate external systems.
Equation is being installed to offer further automation of the bank's lending and associated risk management activities, plus improved customer service and relationship management for private and retail banking. Additionally, the banks plans to expand its range of treasury products.
Marwan Marouf Mahmoud, assistant general manager – IT, of Qatar National Bank, comments: "Among the key factors that were taken into considersation was the comprehensive coverage of the overall solution and its open architecture, which will allow our existing delivery channels to be easily and reliably integrated, and new services and channels added in the future.”