Piraeus Bank, the Athens-based universal bank, has licensed Misys BankFusion Equation as the technology platform to underpin its expansion plans.
Misys claimed that its BankFusion Equation delivers Java (J2EE) re-usable components to Piraeus and gives it improved security and risk management capabilities and the flexibility to scale the business. BankFusion Equation automatically generates the system’s Java code, reducing manual input and errors and accelerating solution modifications.
Janis Delis, DGM of operations technology and organisation at Piraeus Bank, said: It is imperative that we move faster than our competition. Our investment in Misys and its BankFusion Equation solution is critical in our desire to maintain our competitive edge as we continue to expand and to be agile and innovative for our customers.
The revolutionary technology in BankFusion Equation will allow us to launch innovative new products and services quickly that would normally take months of development with other core banking systems and seamlessly integrate best of breed solutions. We look forward to continuing to receive the support we have received over the fruitful relationship we have had with Misys, and to strengthening our position in retail banking and enterprise financing still further.
Guy Warren, EVP and GM of banking at Misys, said: The management team at Piraeus has chosen to invest in Misys, our BankFusion strategy and the future roadmap of the solution. This will give them a unique ability to tailor their business processes to the exact requirements of the organisation, without having to replace the existing underlying technology, and enable them to stay ahead of the competition.
Misys provides integrated solutions to organisations in the financial services and healthcare industries.