Saudi Arabia's first operating bank, formed in 1926, Saudi Hollandi Bank (SHB) will employ Misys' transaction banking solution to ramp up its portfolio of cash management services that support investment in international trade.
The new solution is set to go live in 2013, consolidating the bank's trade finance and cash management software platforms for the first time, and improving operational efficiency in the bank's trade finance unit, specifically. It was chosen after a competitive bidding process and an agreement with the SHB's chairman, Mubarak Bin Abdullah Al-Khafrah.
"Misys was able to show us a compelling case for how we can meet our ambitious expansion targets using its software and services and by building a robust back-office engine to enable that desired growth," says SHB managing director Bernd van Liner.
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