Misys, a financial solutions provider, has announced that Indian Overseas Bank in Singapore has selected its integrated core banking solution Midas Plus, to introduce new products and client services to support business expansion, deliver new levels of customer satisfaction and improve operational performance while enabling international standards in accounting and regulatory compliance & controls.

The bank will benefit from a market proven suite of fully integrated banking application modules, including Misys Trade Innovation for trade finance, Integrated Finance Manager (IFM) for internet banking, and Cashier for branch teller services and sophisticated capabilities for watch list checking and suspicious activity monitoring.

Midas Plus offers the bank at a glance single click consolidated customer centric views for managing risk and informed decision making through a highly customizable user interface delivered via web browser. The combination of IBM iSeries and thin client GUI delivers unrivalled system security and flexibility, leveraging use of existing hardware.

Narayana Moorthy, chief executive officer of Indian Overseas Bank, said: We undertook a comparative review of core banking solutions in the market. A key consideration in choosing Midas Plus is Misys’ unrivalled track record of successful implementations. We felt most confident that the combination of a fully integrated proven Midas Plus solution together with the experienced local Misys team offered the branch a winning combination of a functionally rich, low risk delivery approach to meeting our needs.