January 23, 2013 - National Bank of Malawi is implementing Misys Global Risk - Regulatory Compliance across its business to enable it to comply with Basel II. The product will give the bank better insight into its liquidity and improve its cost/income ratio overall.
Misys' solution will improve the way risk is monitored at the bank by managing the entire liquidity risk management process, from data import, analytics and calculations, to reporting. The bank will use the product to manage the bank's balance sheet dynamically because of the comprehensive solution that includes Basel II, asset and liability management and fund transfer pricing all on the same platform.
"We are excited to have signed up Misys to partner with us in implementing the Basel II solution and improve our risk management framework as a whole," states Isaac Kanje, Head of Risk at NBM. "As the biggest bank in the country, we want to take a leading role in providing outstanding service, product innovation and ensure that our strategic objectives are achieved in a sustainable manner. We are confident that Misys, who also provides us with other solutions including internet banking, will deliver an excellent solution in time for us to be Basel II compliant by 1st January 2014, as required by the Reserve Bank of Malawi."
Misys has an excellent reputation in Africa as a reliable technology partner with very deep local knowledge. With its preconfigured package and rapid implementation process, Misys is enabling National Bank of Malawi to go live on the system and be fully compliant within the regulator's deadlines, all by the end of May 2013.
"We are delighted that National Bank of Malawi has turned to us to help them get an enterprise-wide view of risk exposures," adds Arnaud Picut, product manager, Misys. The bank will be able to consolidate its entire liquidity management position across its finance, treasury and corporate governance departments, which is critical for regulatory compliance but also for the bank's overall performance."
"Misys is strategically focusing on the Sub-Sahara African (SSA) region in response to demands from our customers embarking on modernisation programmes," comments Erin Smith MD, Misys Africa. "We have provided many banks with our sophisticated systems to help them in this ever-changing regulatory environment. They rely on us to comply with new regulations with the assurance that they can continue to grow their product portfolio and expand across the region. We are seeing a high demand for our expertise and solutions in this fast-paced, high-growth region and it is exciting to see the financial services landscape changing for the better across the SSA region."
