Misys, a UK-based financial software company, has won a deal with Trade Bank of Iraq (TBI) to assist the bank in upgrading to a next-generation digital platform, according to a report.

 

As a strategic partner, the firm aims at gaining a competitive edge in Iraq's growing banking industry, said the Iraq-Business News report.

 

“We understand the importance of implementing advanced solutions in order for us to better serve our customers. Research has shown that with the aggressive entry of foreign banks into Iraq, a large portion of market share will be lost unless we make the effort to modernize at a rapid scale," Hamdiyah Mahmood Faraj Al-Jaff, chairman, Trade Bank of Iraq, was quoted as saying.

 

The bank plans to upgrade its existing core banking infrastructure through the implementation of the latest version of Misys FusionBanking Equation to offer a feature-rich banking experience, said the report.

 

Meanwhile, products such as FusionBanking Teller will help create a more efficient branch network and offer a superior customer experience, it added.