The United Bank of Egypt upgrades core software with Misys
The United Bank of Egypt “revolutionises its processes” with Misys’ software
A long-standing user of a host of Misys’ products, The United Bank of Egypt has committed to upgrade to the latest version of software. The project is penned for completion later this year.
The bank will upgrade to FusionBanking Equation (core system), FusionBanking Trade Innovation (trade finance) and FusionCapital Opics (treasury and capital markets). It will also install a new teller system, FusionBanking Essence Teller.
The new software will be rolled out across the bank’s network of 50 branches.
The project is part of a major modernisation at The United Bank, spanning retail, SME and corporate businesses. The bank offers conventional and Islamic banking products.
The bank has been running Misys’ older versions of Equation, Opics and Trade Innovation for around ten years.
“By upgrading to the latest versions of Misys solutions we will be able to improve service levels, increase customer satisfaction and introduce competitive products faster,” says Farag Abdel Hameed, vice-chairman and managing director, The United Bank.
He feels that Misys is “the ideal partner” to help the bank “revolutionise its processes”.
The implementation is now underway and the go-live is expected at some point this year.
Meanwhile, another long-standing customer of Misys – British Arab Commercial Bank (BACB) in the UK – decided to switch to a new provider. BACB is replacing Misys’ Midas core banking system with Temenos’ T24.
