Misys International Banking Systems, which now has 12 banking clients in Zimbabwe, has entered into a marketing agreement with Union Financial Systems (Pvt) Ltd to assist with marketing Misys products as well as promote the business interests of Misys in Zimbabwe.
Union Financial Systems (Pvt) Ltd is a banking consulting firm operating in Harare that specialises in bank operations, payment systems and related technologies. The firm aims to serve financial institutions in Africa, including central banks, commercial and merchant banks, building societies, discount houses and asset management companies.
Consultants at Union Financial Systems have many years experience in developing and implementing strategies for start-up banks, as well as being involved in the deployment of technologies, both for core banking systems as well as EFTPOS. This experience in handling projects for new banks, conversion from one type of institution to another, or development of strategies surrounding technology-based products or operations make Union Financial Systems an ideal strategic partner to support the business of Misys.
"Computerisation has brought a new set of challenges to financial institutions in Africa where technology has become the competitive weapon in banking, both in attracting customers, retaining them and lowering service costs. Our firm helps financial institutions to increase shareholder value through effective selection and deployment of IT services that meet the specific needs of African markets," says Ashbel Ndewere, Managing Director of Union Financial Systems (Pvt) Ltd. "We understand the technology required to undertake real-time processing while at the same time providing satisfactory service to both the banks and customers in environments with unreliable telecommunications," he adds.
"The signing of this agreement signifies our recognition of the growing importance of Misys business in Zimbabwe," says David Haggett, Manager of Misys International Banking Systems, based in Johannesburg. "Three banks joined our list of customers in Zimbabwe this year to bring our relationship to 12, thus making Misys the largest single supplier of bank software in Zimbabwe. We are pleased with our association with Union Financial Systems. Not only does Ashbel Ndewere have a good grasp of the financial markets in Zimbabwe, but his extensive experience in implementing several new banks` IT projects will benefit many of our customers."
Haggett added that decisions were underway to investigate ways in which Union Financial Systems might develop the capacity to service and support Misys customers so that in future local customers will be able to call on a local consultant for first line support, should they wish.
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