Societe Generale de Banque au Liban (SGBL) and Temenos (SIX: TEMN) announced that they have jointly signed a deal whereby SGBL will implement Temenos' flagship core banking system, T24, and all its related modules.
With Temenos, SGBL is looking to replace its current core banking platform, and to consolidate its regional operations on one unified and flexible banking platform.
SGBL, one of the leading banks in Lebanon and the Levant, operates in retail, corporate and private banking services through 89 branches in the region. The implementation of Temenos' solutions will support the Group's current operations in Lebanon, Jordan and Cyprus. The Group will benefit from an open standard platform and very highly parameterised and componentised applications, to help SGBL enhance the efficiency and innovation of the services it delivers to its customers through multiple channels.
Jean-Paul Mergeai, Managing Director, Temenos Middle-East, said: "We are delighted to have been chosen by SGBL as their end to end banking solution and look forward supporting them in their expansion and strategic developmental plans. Our global reach and regional experience enable us to understand and support banking customers, to transform their business and become true partners in their successful development.
Gerard Garzuel, Chief Operating Officer of SGBL commented: "SGBL maintains the highest standards among banks in Lebanon. When choosing our new banking system, we evaluated several international vendors on the basis of their technical and functional capabilities, their solution footprint and their compatibility with the company profile. Following the evaluation, we determined that Temenos was the preferred provider, meeting all of our expectations and requirements."