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Misys Wins SWIFTReady TSU 2009 Accreditation for Third Year Running
Date:3/2/2009

LONDON, March 2 /PRNewswire-FirstCall/ -- Misys plc (LSE:MSY), the global application software and services company, today announces that it has passed the strict accreditation tests required to gain the SWIFTReady Trade Services Utility (TSU) 2009 label.

Misys was the first solutions provider to be awarded this when the SWIFTNet TSU service came into existence in April 2007 for its Misys Trade Portal solution which was then accredited again in 2008.

The TSU, which has more than 80 banks subscribed to it from 30 countries, was built by SWIFT to help financial institutions provide competitive supply chain services to their corporate customers. It offers a common standard for the exchange of trade-related data between banks, which improves the way banks interact with each other. The TSU supports all banks' value-added supply chain services, such as finance programmes, cash forecasting and liquidity management.

This latest release of the SWIFTNet TSU, which becomes commercially available in March 2009, sees several enhancements built into the service and its workflow engine from previous versions. One of the key improvements to the latest release is the much-awaited ability for a bank to issue a 'Bank Payment Obligation', often considered similar to a Letter of Credit in the sense that it provides the irrevocable undertaking on the part of that bank to pay the other party, as long as the conditions have been satisfied and the data extracted from key trade documents matches within the TSU. Another key enhancement is a new 'Notice of Intent to Pay' message to indicate one corporate's intent to pay another corporate.

The Misys solution provides support for these new capabilities out-of-the-box, allowing banks to offer fully branded and customized innovative services to their corporate customers in a rapid and cost effective manner

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SOURCE Misys plc
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