UBS and Bank of Cyprus Get the Midas Touch
UBS and Bank of Cyprus recently announced that they are each implementing Midas Plus technology from U.K. banking vendor Misys, an enterprise-wide banking application providing 'back-to-front' functionality.
UBS is rolling out the technology across its Asia Pacific operations. The system will cover five international branches from a Singapore-based hub. Midas Plus will help UBS to improve support for corporate banking and wealth management clients. The system will speed up transaction processing across treasury, securities, lending and cash accounts business areas and equip the bank with stronger risk and collateral management capabilities.
Bank of Cyprus has signed for Misys Midas Plus with Global Processing, which it will use to consolidate its treasury systems into a single location. Set to go live before the end of the year, the technology will be integrated with the bank's existing core system and will handle all traded instruments allowing traders and treasury managers to have real-time information on positions, exposures and profitability.
Leonidas Isodiou, chief information officer, Bank of Cyprus, said the bank chose Midas Plus for its ability to provide a centrally-located system which supports multiple time zones, languages and a true enterprise-view of its management information.