First Hawaiian Bank Opts for Misys' Trade Innovation Solution to Manage Trade Finance Operations
First Hawaiian Bank, the oldest financial institution in Hawaii, recently announced that it has chosen Misys' Trade Innovation solution to manage its trade finance operations in Honolulu. The supplier of First Hawaiian's previous trade finance system had gone out of business, which prompted the bank to select a new system.
Trade Innovation was ultimately chosen out of many possible systems after a "thorough investigation and comparison of trade finance solutions available on the market" due to its success at First Hawaiian's sister company, Bank of the West, stated Richard Chun-Hoon, vice president and manager, First Hawaiian, in a company release. He added that Misys' Trade Innovation's "comprehensive functionality will allow us to fulfill our main objectives of managing our risk, streamlining processes and offering improved levels of service to our customers."