Credit Union Central of Manitoba to implement innovative treasury management solution from Misys
6 May 2008 – Credit Union Central of Manitoba (CUCM), the trade association for Manitoba’s 52 credit unions, has become the first institution in North America to adopt an innovative hosted treasury and risk management service from Misys, the global application software and services company.
2007 marked the eighth straight year of double-digit growth for Manitoba credit unions, and to tackle the challenges of a rapidly expanding asset book and comply with new accounting regulations, CUCM will implement Misys Opics Plus — a comprehensive treasury and capital markets solution for front-to-back office, cross-asset processing of a wide range of financial instruments — through a managed service.
The platform operates in an innovative ‘software-as-a-service’ environment and will be used to manage CUCM’s $2-billion Cdn investment portfolio. CUCM will use the service to transact and account fixed income and money market investments as well as interest rate swaps. It will also utilize Misys Eagleye, an advanced monitoring and controls solution, and Misys Opics Risk Plus, an advanced market risk and portfolio management solution. These investments will allow CUCM to further boost automation in its operations and strengthen compliance monitoring across its portfolio.
Garth Manness, Chief Executive Officer at Credit Union Central of Manitoba comments: “We want to put tools in place that will benefit our stakeholders and improve the efficiency, accuracy, and integrity of our trading and central banking functions.”
CUCM initially identified Misys as a potential partner two years ago when it was evaluating treasury and risk management solutions that could be accessed remotely. In June of last year, Misys announced the creation of a new range of online software-as-service solutions based on its existing offerings for treasury and capital markets participants.
Rick Salk, Head of Sales Americas for Misys Solutions for Treasury & Capital Markets adds: “In today’s market, the advanced portfolio management tools available to Credit Union Central of Manitoba will allow them to better manage risk, improve efficiency, and support new products. The real-time reporting features will also, we believe, make them one of the most forward-thinking financial institutions in Canada.”
Misys Treasury & Capital Markets has 18 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.
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Credit Union Central of Manitoba (CUCM) is the trade association for the province’s 52 autonomous credit unions. CUCM manages liquidity reserves, monitors credit granting procedures and provides financial and other services to credit unions including banking, treasury, corporate governance, government relations, representation and advocacy, and legal services. As well, credit unions have access to payment and settlement systems, human resources, research, communications, marketing, planning, lending, product/service R&D and business consulting through CUCM. Manitoba credit unions jointly own CUCM and representatives from nine provincial districts sit on its board of directors. CUCM is financed through assessments and fee income derived through its operations.
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organizations in the financial services and healthcare industries. We maximize value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury and capital markets, Misys is a market leader, with over 1,200 customers, including all of the world’s top 50 banks. In healthcare, Misys is a market leader, serving more than 110,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries.
We aspire to be the world’s best application software and services company, delivering results for the most important industries in the world.
Contact us today, visit: www.misys.com
