Qatar International Islamic Bank Speeds Payment Processing for its Customers
Through Qatar's Automated Clearing House Network
DOHA, Qatar, October 30, 2012
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.
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
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