Kazakhstan's Bank Turan Alem has selected technology from Misys International Banking Systems (Misys) to support its trade finance business across national and Russian operations.
Due to go live in May 2003, Misys' Trade Innovation product is being implemented to support the full range of trade related business applications, from letters of credit and collections to bills financing, syndicated lending and clean payments.
Trade Innovation interfaces with the bank's back-office system and can access data stored in external applications. Misys' Meridian software will be used to integrate the trade finance operation with the bank's existing systems.
Bank Turan Alem says the solution was selected following evaluation of three other packages.
Sholpan Lebayeva, head of the international division at the bank, adds: "The localised support, global reach of the company and overall quality of the trade finance solution made Misys-IBS the clear choice."