Apr 17, 2017

State Bank of India unifies its trade finance systems with Misys

State Bank of India unifies its trade finance systems with Misys

Published in IBS Intelligence

State Bank of India (SBI) has adopted Misys’ Fusion banking Trade Innovation software across its branches in 25 countries.

This shift in platforms has taken 14 months to complete and was made possible thanks to Misys’ partner in India, Encore Theme Technologies. In a LinkedIn post revealing the deal, Shiv Kumar Bhasin, CTO of SBI Group called the changeover “one of the most agile, devOps based, multi-tenant deployments” in India.

This update will help “promote and facilitate global trades across most important global trade corridors.” Bhasin adds, and it’s currently “providing seamless trade experience to large corporates and MNCs”.

Misys is set for a mega-merger with Canadian software vendor D+H. Visa Equity Partners, the owner of Misys, agreed to purchase D+H and plans to combine the two firms before a second attempt at Misys’ stalled IPO.

The firm also recently unveiled its latest CIO hire, Natalie Gammon. With more than 20 years’ experience in the industry, Gammon held similar roles at FNZ and Deutsche Bank.

Source: https://ibsintelligence.com/ibs-journal/state-bank-india-unifies-trade-finance-system-across-globe-misys/