Misys selected for integration of United Bank

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By  Published  December 8, 2006

Egypt’s United Bank has selected Misys Banking Systems’ core banking solution to optimise inter-branch communications and reporting between the organisation’s head office and more than 40 branches across the country.

The deployment of Misys Equation is expected to help with the integration of three Egyptian banks that United acquired earlier this year.

The institution snapped up the United Bank of Egypt, the Nile Bank and Islamic International Bank for Investment and Development in June.

Misys Equation will be used across the whole of the combined company’s operations and help in data conversion and consolidation by streamlining operations across retail, Islamic, corporate and investment banking divisions following the acquisition of the three banks.

“We chose to work with Misys Banking Systems for numerous reasons, especially the company’s strength and reputation in our region,” Mohamed Ashmawy, chairman and managing director of United Bank, commented on the contract.

“We are confident of the technology excellence and expertise we will obtain, besides the continuous support from Misys, as we have done in the past. We believe that this partnership will lead us to maintain and consolidate our growth in the Egyptian banking market.”

In addition to Misys Equation’s core banking function, United Bank will also deploy the Branch Automation, Trade Innovation, IFM Internet Banking and Webform modules.

Misys said Branch Automation would ensure efficiency between offices and give support to tellers and customer services operations, while Trade Innovation would be used to manage workflow within United’s trade finance business.

“We are delighted to expand out relationship and provide a world-leading solution that will serve all of the United Bank’s integrated banking requirements,” stated Roy Froud, general manager of Misys Middle East and Africa (MEA).

“Bringing together networks and processes from the three component banks is crucial for United Bank to maintain and enhance its competitiveness and to leverage the combined strengths which the acquisition has given,” Froud added.

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