Misys has launched a trade services portal through which corporate treasurers can manage their trade finance relationships with multiple banking partners.
Misys Trade Portal for Multi-Bank is a hosted service that provides banks and their customers with a single window for processing, reviewing and managing all their transactions including letters of credit, collections, guarantees, financing or open account-based transactions.
Oliver Berthier, head of product management, Misys Trade Services, comments: "The feedback we are getting from both banks and corporates is that the few existing solutions that claim to be multi-bank, are not meeting their functional demands well enough."
He says the new service was developed in conjunction with a number of major European financial institution partners and sits as a complementary option to the firm's existing Misys Trade Portal product offering.
The hosted application enables corporate clients that are currently handling multiple banking relationships to have a single, consolidated overview of their international trade transactions, enabling better financial supply chain management, says Berthier.
As a hosted service, it minimises the initial investment both banks and corporates have to make and reduces the overall total cost of ownership, he adds.