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Union Bank Selects Latest Innovative Solution From Misys for Greater Efficiency and Transparency in Foreign Exchange and Money Markets

Posted on: Tuesday, 23 June 2009, 04:34 CDT

LONDON, June 23 /PRNewswire-FirstCall/ --

- Union Bank Goes Live on Misys Opics Plus v3.0 in Just Four Months

Misys (LSE: MSY), the global application software and services company, today announced that Union Bank, N.A., a California-based commercial bank, has gone live with Misys Opics Plus v3.0, the latest release of Misys' powerful Treasury and Capital Markets operations solution. The new solution will support Union Bank's Foreign Exchange and Money Markets treasury operations, delivering improved efficiency and greater transparency on a newly re-engineered .NET service-oriented architecture.

Union Bank originally selected the Misys Opics solution in 1997. Having continually worked closely with Misys to expand their usage of the system and implement the latest and most innovative treasury developments, Union Bank has always been at the forefront of using the latest treasury technology from the award-winning solutions provider. Misys Opics Plus v3.0 is designed to support financial institutions with technology powerful enough to handle the evolving requirements of the global marketplace.

Union Bank first opened its doors more than 145 years ago and has been dedicated to offering its customers comprehensive financial solutions ever since. Currently the 16th largest commercial bank holding company in the US, it has always strived to deliver the best customer service for the most up-to-date range of products and relies on Misys to support it in delivering on these goals with respect to its Foreign Exchange business.

Bradley Shairson, SVP and Head of FX and Derivatives at Union Bank comments: "We have been working with Misys for over a decade now and have been impressed by not only the enhancements that result from the new Opics Plus solution, but with the Misys team that provided strong, dedicated support during the upgrade process. We are very pleased that we made the decision to upgrade to Opics Plus v3.0. We are confident that this newest version will help us to deliver even more efficient services to customers."

Misys Opics Plus is a comprehensive, highly scalable treasury and capital markets solution for front-to-back office, cross-asset processing of a wide range of financial instruments. Misys Opics Plus combines unparalleled integration across financial instruments and consolidation of processes across the different departments of a financial institution. As a result, it is the ideal solution for financial institutions looking to reduce costs through adopting a centralised approach to systems and operations.

The platform handles vanilla and complex derivatives, fixed income, equity and treasury trades and is useful for a wide range of functions including money markets and foreign currency business.

"Opics Plus v3.0 is the culmination of more than three years of investment by Misys to convert a legacy client server application to a pure .NET Service Oriented Architecture," comments Ed Ho, EVP and General Manager, Misys Treasury & Capital Markets. "The Opics Plus team has worked very closely with Microsoft during this period. It has won Microsoft's Windows in Financial Services Innovation Award and the results of the volume-based benchmarking tests on the solution are outstanding."

Misys Solutions for Treasury & Capital Markets has 19 years of experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.

About UnionBanCal Corporation

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $68.7 billion at March 31, 2009. UnionBanCal Corporation is the 16th largest commercial bank holding company in the U.S. based on assets at March 31, 2009. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. Union Bank is California's fifth-largest bank by deposits. The bank has 335 banking offices in California, Oregon, and Washington and two international offices. UnionBanCal Corporation is a wholly owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. (NYSE: MTU). Visit http://www.unionbank.com for more information.

About Misys plc

Misys plc (LSE: MSY), 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.

SOURCE Misys plc

Source: PR Newswire

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