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Bank of Beirut selects Misys banking solutions

BoB rolling out Misys core banking, trade finance and risk management solutions

The new banking solutions will help to improve BoB's processing.
The new banking solutions will help to improve BoB's processing.

Bank of Beirut (BoB) has selected a range of applications from Misys to improve its processes and help it offer new services to customers.

The Lebanon-based commercial bank is taking an integrated set of solutions from Misys, including Misys BankFusion Universal Banking, a core banking platform; TI Plus trade finance application and Sophis RISQUE cross-asset trading and risk management solution. Misys will also provide skilled support for the implementation.

The solutions will allow BoB to process higher volumes of transactions while maintaining lower costs per transaction as it continues to expand, and to ensure that improves customer service, reduces time to market with new solutions, and manages risk.

Gaby Andari, chief information officer at Bank of Beirut, commented: "Misys solutions offer the scalability, flexibility and functionality required to meet today's changing market demands. The solution helps us differentiate ourselves within the markets we serve and achieve significant economies of scale through centralized resources. We have worked closely with Misys for many years now and are delighted to extend this partnership to enable us to grow and maintain our lead in the market."

"In an ever-changing market, businesses need to be able to adapt quickly," added Maruf Majed, managing director at Misys Banking Systems. "Demands for a nimbler response to customer requirements, reduction of risk and the pressure to increase revenues while lowering operating costs continue to change the way banks operate. Our solutions offer the necessary tool-kit to effectively assist BoB in their expansion plans."