Qatar International Islamic Bank Speeds Payment Processing for its
Customers Through Qatar's Automated Clearing House Network
DOHA, Qatar, October 30, 2012 /PRNewswire/ --
Qatar International Islamic Bank (QIIB), a leading full-service
bank in Qatar, has successfully
gone live with Misys' payment solution, Misys Payment Manager. The
bank selected Misys to support its transition onto Qatar's Automated Clearing House (ACH) network
and will now be able to make simple, secure and reliable payments
through this network.
The ACH project's scope was to connect Qatar Central Bank with
all banks in the country in order to deploy Direct Debit and Direct
Credit payment transactions, which provides a simple, secure and
reliable means for banks to make payments via electronic transfer.
QIIB has implemented Misys Payment Manager to provide
comprehensive support for Direct Debits thereby helping to reduce
the volume of cheques received. The bank can now process any
types of payments regardless of size, complexity and structure.
It has improved efficiency through compliance with the
ISO20022 standard format for payments and process automation
enabling it to comply with local regulations and maintain its high
standard of customer service.
"Customer service is key to us remaining ahead of our
competitors and at the forefront of the industry," comments
Ali Al-Mesaifi, Chief Operating
Officer at QIIB. "With that as a continuing goal coupled with
the challenge of complying with the local regulations, Misys'
solution offers a quick and low risk way to innovate our payments
infrastructure. The solution includes functionality that
extends visibility and control of both outbound and inbound
payments through the complete payment life-cycle, from initiation
to settlement. We have worked closely with Misys for many
years now and are pleased to extend this partnership to enable us
to strengthen our business and maintain our competitive edge."
"Misys is recognized as a global expert in terms of helping
banks to integrate their existing systems with new payment
networks. Misys Payment Manager's flexible architecture
allows banks to take a phased approach to the transformation of
their payment systems," states Maruf
Majed, Managing Director, Middle
East for Misys. "They can focus on the resolution of
specific business issues through a series of manageable projects.
Migrating to a strategic payments environment can be achieved
while delivering ongoing benefit and early return on
investment."
Since its entry into the Middle
East and African markets in 1982, Misys has solidified its
position working alongside local market participants to provide
scalable, reliable and long-standing software solutions to support
complex business needs. By optimizing their global experience
with local knowledge, comprehensive solutions and industry insight,
Misys continues to grow and strengthen its leadership position
within the Middle East and
Africa's financial services
industry.
About Misys
Misys is at the forefront of the financial software industry,
providing the broadest portfolio of banking, treasury, trading and
risk solutions available on the market. With 1,800 customers in 120
countries our team of domain experts and partners have an
unparalleled ability to address industry requirements at both a
global and local level.
Misys was formed by the merger of Misys with Turaz, which
includes the award-winning Kondor+ product line. Combined
they are able to address all customer requirements across both the
banking and trading book businesses. Misys is the trusted partner
that financial services organisations turn to for help solving
their most complex problems.
Find out more at http://www.misys.com
For further information please
contact
Edward Taylor
Global Head of Public Relations
Misys
+44-(0)20-3320-5530
edward.taylor@misys.com