The Sub-Saharan nation's largest bank, known locally as NBM, will use the firm's Regulatory Compliance solution to meet Basel II requirements.
The solution is set to provide NBM deeper insight into its liquidity and overall cost/income ratio, dynamically managing liquidity risk from data import through to analytics, calculation, and reporting. The NBM agreement is the latest in a business development trend for Misys, which has identified Sub-Saharan Africa as a growth region.
"As the biggest bank in the country, we want to ensure that our strategic objectives are achieved in a sustainable manner. We are confident that Misys, who also provides us with other solutions including internet banking, will deliver an excellent solution in time for us to be Basel II compliant by January 2014, as required by the Reserve Bank of Malawi," says Isaac Kanje, head of risk at NBM.
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