Bank of Beirut Expands Business by Deploying Misys Solutions

Bank of Beirut Expands Business by Deploying Misys Solutions

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Bank of Beirut Expands Business by Deploying Misys Solutions PR Newswire BEIRUT, Lebanon, June 13, 2012 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

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Bank of Beirut Expands Business by Deploying
Misys Solutions
PR Newswire
BEIRUT, Lebanon, June 13, 2012
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.
About Misys
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
For further information please contact
Edward Taylor
Global Head of Public Relations
Misys
+44(0)20-3320-5530
edward.taylor@misys.com