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Misys Wins SWIFTReady TSU 2009 Accreditation for Third Year Running
LONDON, March 2 /PRNewswire/ -- Misys plc (LSE:MSY), the global application software and services
company, today announces that it has passed the strict accreditation tests
required to gain the SWIFTReady Trade Services Utility (TSU) 2009 label.
Misys was the first solutions provider to be awarded this when the
SWIFTNet TSU service came into existence in April 2007 for its Misys Trade
Portal solution which was then accredited again in 2008.
The TSU, which has more than 80 banks subscribed to it from 30 countries,
was built by SWIFT to help financial institutions provide competitive supply
chain services to their corporate customers. It offers a common standard for
the exchange of trade-related data between banks, which improves the way
banks interact with each other. The TSU supports all banks' value-added
supply chain services, such as finance programmes, cash forecasting and
liquidity management.
This latest release of the SWIFTNet TSU, which becomes commercially
available in March 2009, sees several enhancements built into the service and
its workflow engine from previous versions. One of the key improvements to
the latest release is the much-awaited ability for a bank to issue a 'Bank
Payment Obligation', often considered similar to a Letter of Credit in the
sense that it provides the irrevocable undertaking on the part of that bank
to pay the other party, as long as the conditions have been satisfied and the
data extracted from key trade documents matches within the TSU. Another key
enhancement is a new 'Notice of Intent to Pay' message to indicate one
corporate's intent to pay another corporate.
The Misys solution provides support for these new capabilities
out-of-the-box, allowing banks to offer fully branded and customized
innovative services to their corporate customers in a rapid and cost
effective manner
"Having the right solutions, matching and workflow mechanisms and
visibility of the process are all key to the efficiency of trade finance,"
comments Olivier Berthier, Transaction Banking Solutions Director at Misys.
"The TSU together with Misys Trade Portal enable banks to establish a common
view of key supply chain transaction data, to monitor events all the way from
inception to completion and to develop the right integrated supply chain
finance offering. We have adapted our solution greatly to ensure it changes
with the new demands from our clients seeking to enhance their customer
service and broaden revenue opportunities. This hat-trick of TSU
accreditations from SWIFT underlines our market leadership in the trade
services area."
Traditional trade instruments, such as letters of credit, collections and
guarantees, also fully supported in the Misys solution, remain an important
service provided by banks even if a majority of international trade today is
conducted on open account, which increases the risk of disintermediation for
banks. The TSU and the Misys solution are one way of keeping this risk low
while keeping liquidity high.
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
+44(0)20-3320-5530
edward.taylor@misys.com
Sebastian Mathews
Financial Dynamics
+44(0)207-269-7158
sebastian.mathews@fd.com






