QNB Chooses Misys BankFusion Equation to Underpin Banking Operations With Latest Technology
Poster: SySAdmin
Posted on March 3, 2010 at 5:42:01 AM
QNB Chooses Misys BankFusion Equation to Underpin Banking Operations With Latest Technology
LONDON, March 3, 2010-- Misys plc (LSE: MSY), the global application software and
services company, today announced that QNB, the leading national bank in
Qatar, has licensed Misys BankFusion(TM) Equation to ensure it has the most
modern technology platform available to underpin its business strategy.
QNB has the largest distribution network in Qatar, comprising
44 branches in addition to eleven Islamic branches and offices operated by
its Islamic banking subsidiary QNB Al Islami, and more than 160 ATMs. QNB's
international presence is rapidly expanding to include new locations around
the world to supplement long-established branches in London and Paris. The
Bank has affiliates and subsidiaries in 22 countries including, most recently
Syria and Switzerland where the Bank commenced operations in 2009.
QNB is also among the highest rated regional banks according
to leading credit rating agencies including Standard & Poor's, Moody's,
Fitch, and Capital Intelligence.
BankFusion Equation tailors business processes to the exact
requirements of each bank eliminating any constraints of underlying
technology. BankFusion Equation automatically generates the system's Java
code, significantly reducing manual input and errors and accelerating
solution modifications. This helps bring new solutions to market faster and
better serve customers.
In this latest release of the solution, Equation has been
re-architected into an SOA environment using Misys' revolutionary
BankFusion(TM) platform. Misys BankFusion Equation provides improved security
and risk management capabilities as well as the flexibility to scale the
business rapidly when required.
"QNB is one of the most advanced banking groups in the GCC
region and invests considerable resources in deploying innovative technology
and expertise to ensure the seamless delivery of its banking solutions to
customers," the bank states. "Advanced platforms such as BankFusion Equation
serve the strategic growth objectives of QNB Group by, most importantly,
providing an automated risk management framework, whilst seamlessly
integrating with existing systems and technologies."
QNB is already a leader in modern banking solutions such as
straight through processing of foreign currency transactions and has won
awards from Deutsche Bank and JP Morgan for the quality of its Euro and
Dollar payments. The Bank is also one of the first institutions in Qatar to
have developed an integrated eBanking platform. Branded "EAZYLife", it is a
suite of internet, mobile, telephone and ATM banking solutions serving
customers in Qatar and abroad.
Guy Warren, EVP and General Manager, Banking, Misys states,
"The ground-breaking technology in BankFusion Equation will allow QNB to
launch innovative new products and services quickly to the market. The
management team has chosen to invest in Misys, our BankFusion strategy and
the future roadmap of the solution. This gives them the most modern, flexible
next-generation core banking platform available on the market today to
underpin the bank's operations."
About QNB
Qatar National Bank (QNB), established in 1964 as the country's first
Qatari-owned commercial bank, has an ownership structure split between the
Qatar Investment Authority (50%) and the private sector (50%).
QNB has steadily grown to be among the largest banks in the region and is
by far the leading financial institution in the country, with a market share
approaching 40% of banking sector assets.
QNB offers a full range of Retail, Corporate, Investment, Treasury,
Wealth Management, and Islamic Banking products and services for individuals,
corporate institutions and government entities in Qatar as well as
internationally.
QNB has the largest distribution network in Qatar, comprising 44 branches
and offices (including 3 mobile branches), in addition to 11 Islamic branches
and offices operated by QNB Al Islami, and more than 160 ATMs.
QNB was the first conventional bank in Qatar to offer Shari'a-compliant
banking products and services through QNB Al Islami, established in 2005.
QNB's international presence is rapidly expanding to include new
locations around the world to supplement long-established branches in London
and Paris. Currently QNB has presence in 22 countries including branches in
Yemen, Oman Kuwait & Singapore as well as Representative Offices in Iran &
Libya. An Islamic branch was inaugurated in Sudan during 2009, offering a
full range of Islamic banking services and products.
QNB has also extended its regional reach by acquiring shares in various
financial institutions including 33.5% stake in the Jordan based, The Housing
Bank for Trade and Finance (HBTF), 23.8% of the shares of Commercial Bank
International (CBI) based in the United Arab Emirates (UAE), 50% of the
Tunisian-Qatari bank and 20% stake in the Doha-based Al Jazeera Islamic
Company. QNB also retains 49% stake in QNB-Syria, a private stock company
established jointly with other Syrian private and public sector institutions
which started operations mid November 2009.
The Bank recently established a new investment company "QNB Capital"
providing an array of investment banking services to corporate, government
and institutional clients within Qatar and globally. These include one of the
best corporate finance teams in the GCC region offering extensive transaction
experience, in depth advisory services - including mergers and acquisitions,
equity, debt and project advisory - as well as first-class research
capabilities.
QNB is among the highest rated regional banks from leading credit rating
agencies including Standard & Poor's, Moody's, Fitch, and Capital
Intelligence. The Bank has also been the recipient of many awards from
leading international specialized financial publications for its innovative
products, services and remarkable performance.
QNB has an active community support program and sponsors various social,
educational, and sporting events
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions
that deliver significant results to organisations in the financial services
and healthcare industries. We maximise value for our customers by combining
our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with
over 1,200 customers, including all of the world's top 50 banks. In
healthcare, Misys plc owns a controlling stake in NASDAQ-listed
Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision
of healthcare technology, serving more than 150,000 physicians, 700 hospitals
and nearly 7,000 post-acute and homecare organisations. Misys employs around
6,000 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services
company, delivering results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: http://www.misys.com
For further information please contact
Edward Taylor
Global Head of Public Relations
Misys
Solutions for Banking and Treasury & Capital Markets
+44(0)20-3320-5530
edward.taylor@misys.com
Sebastian Mathews
Financial Dynamics
+44(0)207-269-7158
sebastian.mathews@fd.com
For further information, please contact QNB's Public Relations Department
at +974-4252477, Fax +974-4252589, email: PR@qnb.com.qa or visit the Bank's
website http://www.qnb.com.qa
Source: Misys plc
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys, Solutions for Banking and Treasury & Capital Markets, +44(0)20-3320-5530, edward.taylor@misys.com; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158
sebastian.mathews@fd.com
LONDON, March 3, 2010-- Misys plc (LSE: MSY), the global application software and
services company, today announced that QNB, the leading national bank in
Qatar, has licensed Misys BankFusion(TM) Equation to ensure it has the most
modern technology platform available to underpin its business strategy.
QNB has the largest distribution network in Qatar, comprising
44 branches in addition to eleven Islamic branches and offices operated by
its Islamic banking subsidiary QNB Al Islami, and more than 160 ATMs. QNB's
international presence is rapidly expanding to include new locations around
the world to supplement long-established branches in London and Paris. The
Bank has affiliates and subsidiaries in 22 countries including, most recently
Syria and Switzerland where the Bank commenced operations in 2009.
QNB is also among the highest rated regional banks according
to leading credit rating agencies including Standard & Poor's, Moody's,
Fitch, and Capital Intelligence.
BankFusion Equation tailors business processes to the exact
requirements of each bank eliminating any constraints of underlying
technology. BankFusion Equation automatically generates the system's Java
code, significantly reducing manual input and errors and accelerating
solution modifications. This helps bring new solutions to market faster and
better serve customers.
In this latest release of the solution, Equation has been
re-architected into an SOA environment using Misys' revolutionary
BankFusion(TM) platform. Misys BankFusion Equation provides improved security
and risk management capabilities as well as the flexibility to scale the
business rapidly when required.
"QNB is one of the most advanced banking groups in the GCC
region and invests considerable resources in deploying innovative technology
and expertise to ensure the seamless delivery of its banking solutions to
customers," the bank states. "Advanced platforms such as BankFusion Equation
serve the strategic growth objectives of QNB Group by, most importantly,
providing an automated risk management framework, whilst seamlessly
integrating with existing systems and technologies."
QNB is already a leader in modern banking solutions such as
straight through processing of foreign currency transactions and has won
awards from Deutsche Bank and JP Morgan for the quality of its Euro and
Dollar payments. The Bank is also one of the first institutions in Qatar to
have developed an integrated eBanking platform. Branded "EAZYLife", it is a
suite of internet, mobile, telephone and ATM banking solutions serving
customers in Qatar and abroad.
Guy Warren, EVP and General Manager, Banking, Misys states,
"The ground-breaking technology in BankFusion Equation will allow QNB to
launch innovative new products and services quickly to the market. The
management team has chosen to invest in Misys, our BankFusion strategy and
the future roadmap of the solution. This gives them the most modern, flexible
next-generation core banking platform available on the market today to
underpin the bank's operations."
About QNB
Qatar National Bank (QNB), established in 1964 as the country's first
Qatari-owned commercial bank, has an ownership structure split between the
Qatar Investment Authority (50%) and the private sector (50%).
QNB has steadily grown to be among the largest banks in the region and is
by far the leading financial institution in the country, with a market share
approaching 40% of banking sector assets.
QNB offers a full range of Retail, Corporate, Investment, Treasury,
Wealth Management, and Islamic Banking products and services for individuals,
corporate institutions and government entities in Qatar as well as
internationally.
QNB has the largest distribution network in Qatar, comprising 44 branches
and offices (including 3 mobile branches), in addition to 11 Islamic branches
and offices operated by QNB Al Islami, and more than 160 ATMs.
QNB was the first conventional bank in Qatar to offer Shari'a-compliant
banking products and services through QNB Al Islami, established in 2005.
QNB's international presence is rapidly expanding to include new
locations around the world to supplement long-established branches in London
and Paris. Currently QNB has presence in 22 countries including branches in
Yemen, Oman Kuwait & Singapore as well as Representative Offices in Iran &
Libya. An Islamic branch was inaugurated in Sudan during 2009, offering a
full range of Islamic banking services and products.
QNB has also extended its regional reach by acquiring shares in various
financial institutions including 33.5% stake in the Jordan based, The Housing
Bank for Trade and Finance (HBTF), 23.8% of the shares of Commercial Bank
International (CBI) based in the United Arab Emirates (UAE), 50% of the
Tunisian-Qatari bank and 20% stake in the Doha-based Al Jazeera Islamic
Company. QNB also retains 49% stake in QNB-Syria, a private stock company
established jointly with other Syrian private and public sector institutions
which started operations mid November 2009.
The Bank recently established a new investment company "QNB Capital"
providing an array of investment banking services to corporate, government
and institutional clients within Qatar and globally. These include one of the
best corporate finance teams in the GCC region offering extensive transaction
experience, in depth advisory services - including mergers and acquisitions,
equity, debt and project advisory - as well as first-class research
capabilities.
QNB is among the highest rated regional banks from leading credit rating
agencies including Standard & Poor's, Moody's, Fitch, and Capital
Intelligence. The Bank has also been the recipient of many awards from
leading international specialized financial publications for its innovative
products, services and remarkable performance.
QNB has an active community support program and sponsors various social,
educational, and sporting events
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions
that deliver significant results to organisations in the financial services
and healthcare industries. We maximise value for our customers by combining
our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with
over 1,200 customers, including all of the world's top 50 banks. In
healthcare, Misys plc owns a controlling stake in NASDAQ-listed
Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision
of healthcare technology, serving more than 150,000 physicians, 700 hospitals
and nearly 7,000 post-acute and homecare organisations. Misys employs around
6,000 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services
company, delivering results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: http://www.misys.com
For further information please contact
Edward Taylor
Global Head of Public Relations
Misys
Solutions for Banking and Treasury & Capital Markets
+44(0)20-3320-5530
edward.taylor@misys.com
Sebastian Mathews
Financial Dynamics
+44(0)207-269-7158
sebastian.mathews@fd.com
For further information, please contact QNB's Public Relations Department
at +974-4252477, Fax +974-4252589, email: PR@qnb.com.qa or visit the Bank's
website http://www.qnb.com.qa
Source: Misys plc
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys, Solutions for Banking and Treasury & Capital Markets, +44(0)20-3320-5530, edward.taylor@misys.com; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158
sebastian.mathews@fd.com