Bank of Beirut Expands Business by Deploying Misys Solutions
BEIRUT, Lebanon, June 13, 2012 /PRNewswire/ --
Misys, the global provider of financial application software and services for Banking and Capital Markets, has been selected by Bank of Beirut (BoB), one of Lebanon's leading commercial banks, to enable the bank to address local market requirements and support its international expansion.
BoB has chosen an integrated solution from Misys, comprising Misys BankFusion Universal Banking, TI Plus and Sophis RISQUE to make its operations more efficient, deliver enhanced customer service and provide high-quality trade services to its corporate clients. By automating its operations across all divisions, BoB can process higher volumes of transactions while maintaining lower costs per transaction as it continues to expand. BoB is currently integrating Misys' solutions with the bank's existing applications supported by the highly skilled implementation team from Misys.
Gaby Andari, Chief Information Officer at Bank of Beirut, comments, "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, adds Maruf Majed, Managing Director at Misys Middle East. "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."
Misys will provide a comprehensive set of trade finance business applications which support traditional trades, open account services and capital finance solutions like factoring. The bank will use Misys BankFusion Universal Banking as its platform that will enable it to change processes quickly and bring new products to market keeping it ahead of competitors, while ensuring risk and costs are kept to a minimum. Lastly, Misys Sophis RISQUE will offer real time position keeping through a set of comprehensive support-to-decision tools created for portfolio managers.
Since its entry into the Middle East and African markets in 1982, Misys has solidified its position working alongside local market participants to provide scalable, reliable and long-standing software solutions to support complex business needs. By combining global experience with local knowledge, comprehensive solutions and industry insight, Misys continues to grow and strengthen its leadership position within the Middle East and Africa's financial services industry.
Misys is at the forefront of the financial software industry, providing the broadest portfolio of banking, treasury, trading and risk solutions available on the market. With 1,800 customers in 120 countries our team of domain experts and partners have an unparalleled ability to address industry requirements at both a global and local level.
Misys was formed by the merger of Misys with Turaz, which includes the award-winning Kondor+ product line. Combined they are able to address all customer requirements across both the banking and trading book businesses. Misys is the trusted partner that financial services organisations turn to for help solving their most complex problems.
Find out more at http://www.misys.com
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SOURCE Misys plc
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