BBAC to deploy integrated Misys solutions
Bank selects two solutions from Misys to improve operations
Lebanese commercial bank BBAC has selected two applications from Misys to help it to streamline operations and improve processes.
The bank, an existing Misys customer, will roll out Misys BankFusion Equation and Misys Opics Plus in an integrated deployment.
BankFusion Equation consists of componentised solutions that handle banking functions for retail and enterprise banking, including lending, deposits, payments, treasury and trade services. The solution will help the bank to more quickly introduce or make changes to products and servicers, and to improve governance and risk, while keeping costs down.
The Misys Opics Plus solution is a Treasury and Capital Markets solution, based on the .NET platform, which will provide front-to-back office, cross-asset processing of multiple financial instruments for BBAC. It will enable the bank to manage vanilla and complex derivatives, fixed income, and equity and treasury trades all in the single system.
"Over the past few months we have been evaluating a number of solutions to optimise our operations and reduce costs," states Ghassan Assaf, chairman, BBAC SAL. Although we have been a Misys customer since 1994 and are impressed by the track record of their systems, we decided to be objective and consider other vendors as well. Misys proved to be the best option for us with the ground-breaking BankFusion technology matching our future needs. We expect this solution to prevent human errors and speed up transactions and are looking forward to passing on the benefits to our customers as we start to experience the value of BankFusion Equation and Opics Plus."
"We are delighted that BBAC has chosen to invest in our SOA-based solutions, which will greatly enhance the functionality of their infrastructure and existing systems," added Roy Froud, director, Middle East & Africa, Misys. "The bank will have access to our cutting-edge technologies that continue to set us apart from our competitors and builds a great foundation for their future growth."