Piraeus Bank ("Piraeus"), an Athens-based universal bank, has successfully upgraded to the latest version Misys Equation 3.9 and is live with the core banking system in Greece and branches in their Albanian operations.
Piraeus has upgraded to benefit from the enhancements in Misys Equation 3.9 in less than five months. The latest retail banking solution from Misys will augment the service Piraeus provides to its customers as it expands its operations. The implementation is an important part of the bank's growth strategy and will help Piraeus to continue to achieve its business ambitions.
Misys Equation has underpinned Piraeus Bank's operations for many years across its domestic and selected international branches and now runs the bank's operations across its 343 branches in Greece and 220 branches in three subsidiaries. The bank has implemented a strategy for expansion in South-Eastern Europe and Eastern Mediterranean markets and saw value in the latest version of Equation to help it to achieve its growth objectives while strengthening its competitive edge, particularly in the bank's lending business.
"The reason for implementing the new version is primarily for new functionality, specifically within lending", comments Janis Delis Piraeus Bank. "With the improved upgrade and release strategy that Misys has, we have succeeded in going live within 5 months. This was quite an achievement as it included all interfaces to external systems as well as implementing the lending module from scratch. We have worked very closely with Misys and they have proven to be a true partner in the project. We are now looking to use the same model for the rest of the countries where Misys is present."
Piraeus Bank is looking to enhance its market share further in Greece and abroad. Customer satisfaction is absolutely key to the bank and it was pleased that this latest version from Misys will enable it to improve service quality even further, keep customer loyalty high and also attract new customers.
Another cornerstone of the bank's strategy is being at the leading edge of innovation, as John Gilbert, Regional Manager for Southern Europe, Misys states, "Piraeus has bought into the Equation strategy and roadmap and our latest solution gives the bank the flexibility to create innovative products quickly, further strengthening its position in retail banking and enterprise financing. Misys Equation 3.9 will enable Piraeus to enhance its reputation in the marketplace by being able to provide market-ready products more quickly than its competition. It shows real commitment to our product strategy and we look forward to providing more enhancements in the future.".
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