Dubai Bank looks to Trade Innovation to improve finance capabilities
Misys Trade Innovation application to improve Dubai Bank's management of trade finance operations
Dubai Bank has selected Trade Innovation from application software and services specialist Misys to augment its trade finance operations in the region and provide improved management of its day-to-day financing operation.
The new system will be implemented at Dubai Bank's head office, where it is expected to provide the institution with greater overview of operations while leveraging trade finance operations.
Faizal Eledath, CIO of Dubai Bank said that the past three years has seen significant growth in the Middle East's banking market: "The trade finance market in particular is expanding rapidly and it is important that we have the back-office functionality to support our market-leading position. This implementation of Misys Trade Innovation gives us a key competitive edge and allows unparalleled market positioning in the international trade arena across the region."
"Misys Trade Innovation gives Dubai Bank an unrivalled facility for meeting the demands of the current trade finance market, both in ensuring levels of service to customers and in providing full back-office functionality. Working in such a fast-moving market as the Middle East is a challenge for any financial institution and we are delighted to be able to equip Dubai Bank with the best solution for their needs in this key region," added Roy Froud, Misys's general manager for Middle East and Africa.