Indian Overseas Bank in Singapore has selected integrated core banking solution, Misys 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 and controls.

The bank will benefit from a suite of integrated banking application modules, including Misys Trade Innovation for trade finance, Integrated Finance Manager (IFM) for Internet banking, Cashier for branch teller services and 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 customisable user interface delivered via web browser.

According to Narayana Moorthy, CEO of Indian Overseas Bank, "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."

"Our local team of banking consultants worked well with Indian Overseas Bank staff to identify business critical opportunities for improvements in operational effectiveness. The project is already underway and we will deliver an unrivalled depth and breadth with Midas Plus that IOB can leverage to drive substantial improvements across their business", adds Reid Warren, head of Sales for SE Asia, Misys Banking.