Philippines-based Metropolitan Bank has signed an agreement with Misys to upgrade the core treasury system Misys Opics with Misys Opics Plus at its central treasury dealing room in Manila.
Misys will upgrade Misys Opics, and add Misys Opics Risk Plus and Eargleye, to boost internal control and compliance. Metrobank is aiming to reduce transaction costs and increase automation and processing speed at its facility.
Misys Opics Plus, which uses XML standards, can be easily integrated with other applications and can also provide a comprehensive trade solution for processing instruments.
Fernand Tansingco, executive vice president and head of treasury group at Metrobank, said: Our volumes are growing fast and this deal will give us the capability to book, sell and control the various new products that are being introduced into both the physical and derivative markets, and to do all of this profitably and in compliance with internal and external controls and policies. We’ll also benefit from reduced transaction costs as the system will process more transactions in a shorter time and the reduced operational risk from increased levels of automation and straight through processing (STP) will give us more efficiency in the dealing room.