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National Bank of Malawi to deploy Misys regulatory compliance system

National Bank of Malawi (NBM) has decided to implement Misys Global Risk - Regulatory Compliance across its business to meet the Basel II banking standards, while offering better insight into its liquidity and improve cost/income ratio overall.

The new system which is expected to go live by the end of May 2013, as per regulator’s deadlines, has a preconfigured package and rapid implementation process.

In order to supervise bank’s balance sheet and better risk monitoring, the system will manage complete liquidity risk management process, from data import, analytics and calculations, to reporting.

Misys product manager Arnaud Picut said, "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."

Established with the merger of Misys with Turaz, the financial software company provides banking, treasury, trading and risk technologies to 1,800 customers in 120 countries across the globe.

Founded in 1971 after the merger of Barclays Bank DCO (Dominion Colonial Overseas) and Standard Bank, has a workforce of 850 employees and provides banking services to customers in the country.