BoB enhances collaboration with software provider ‘Misys’

Bank of Beirut (BoB) announced that it has enhanced its cooperation with Misys, the global provider of banking application software, for local market requirements and to support its international expansion.

BoB will be using Misys’ BankFusion Universal Banking, TI Plus, and Sophis RISQUE for its operations. 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.

“We have worked closely with Misys for many years now,” said Gaby Andari, Chief Information Officer at BoB. “Misys solution helps us differentiate ourselves within the markets we serve and achieve significant economies of scale through centralized resources.”

“Our solutions offer the necessary tool-kit to effectively assist BoB in their expansion plans,” said Maruf Majed, Managing Director at Misys Banking Systems.

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, while ensuring risk and costs are kept to a minimum. Misys Sophis RISQUE will offer real time position keeping through a set of comprehensive support-to-decision tools created for portfolio managers.