IOB Singapore branch gets Misys Midas Plus

LONDON: Indian Overseas Bank (IOB) in Singapore has selected integrated core banking solution, Misys Midas Plus.

The solution is expected to help the bank to introduce new products and client services to support business expansion, deliver new levels of customer satisfaction and improve operational performance while enabling market leading international standards in accounting and regulatory compliance and controls.

The bank will benefit from a market proven suite of fully integrated banking application modules, including Misys Trade Innovation for trade finance, Integrated Finance Manager (IFM) for Internet banking, Cashier for branch teller services and sophisticated capabilities for Watch List Checking and Suspicious Activity Monitoring.

According to Narayana Moorthy, CEO of IOB: "A key consideration in choosing Midas Plus is Misys's unrivalled track record of successful implementations. We felt most confident that the combination of a fully integrated proven Midas Plus solution together with the experienced local Misys team offered the branch a winning combination of a functionally rich, low risk delivery approach to meeting our needs."

IOB was the first India-based bank to commence operations in Singapore more than 60-years-ago.