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BBAC to boost revenues with Misys BankFusion Equation & Opics Plus

BBAC to boost revenues with Misys BankFusion Equation & Opics Plus

SOA approach to help the bank to integrate external programs

9 December 2010 - BBAC, a leading Lebanese commercial bank with branches in Cyprus and Iraq, has chosen an integrated solution of Misys BankFusion Equation and Opics Plus to increase revenues and enhance operations.

BBAC’s main lines of service include retail banking, corporate banking, treasury and investment. The bank recently reviewed solutions from various vendors to streamline operations further and re-engineer critical processes. Based on its positive experiences as a long-time user of Misys solutions, BBAC chose Misys as its vendor.

“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.”

Misys BankFusion Equation provides re-usable components covering multiple retail banking instruments including lending, deposits, and payments. It supports business and enterprise banking needs such as treasury and trade services and will play a key role in integrating BBAC’s existing systems. The bank will be able to launch new products and services rapidly, reduce the time taken for process and product changes, improve governance and keep risk and cost to a minimum.

Misys Opics Plus is the .NET-based Treasury and Capital Markets solution which will deliver 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.

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