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Date: Wednesday 20 Aug 2008

LONDON (ShareCast) - Financial software group Misys has been chosen as a strategic partner by Farm Credit Bank of Texas, to provide a software platform for the bank’s back and middle office operations.

The bank has made a “significant investment” in Misys software to help it record and process increasingly complex capital market transactions.

Farm Credit Bank’s capital markets group, which provides capital and liquidity for food and agribusiness, has seen its loan volumes grow by 156% over the last three years, prompting the management to opt for a new, more scaleable, system.

“We all know about the current squeeze in US credit markets, but this deal shows how banks can use technology to innovate and offer new services to their customers in sectors that are still growing,” claimed Ken Katz, Global Solutions Manager for the Loan IQ product in Misys’s Solutions for Treasury & Capital Markets business.

“Throughout the commercial lending world, the trend is still towards multiple lenders, multi-tiered deals and frequently changing market drivers, so it is increasingly important for financial institutions to leverage front-to-back platforms when managing their portfolios," Katz added.

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