China's largest state-owned bank, ICBC, has licensed Misys' Midas and Trade Innovation products to run its international branch operations from a central hub in Shenzhen, Southern China.
The bank plans to run up to 15 international branches from a single 'overseas data centre hub", beginning with a new branch opening in Macau this month. Implementation has now begun across branches in Singapore, Tokyo, Seoul and Hong Kong.
The bank expects that licensing one standard version of the software to run from a single centre will result in a major cost reduction. As well as delivering a centralised point for settlement, accounting and network interfacing, the bank will additionally gain a complete view of its business for MIS, risk control and regulatory reporting.
Specific local requirements are also supported through the Midas hubbing environment which caters for different end of day run times/holiday calendars and enables branches to tailor their service to local needs.
Andrew White, CEO of Misys wholesale banking systems, comments: "The bank's customers will get the best of both worlds - customer care from the local branch combined with a centre of excellence to provide for all their complex requirements."