SunGard signs Beirut-based BankMed to BancWare

SunGard signs Beirut-based BankMed to BancWare

Beirut-based BankMed has selected SunGard's BancWare technology for profitability analysis, asset/liability management (ALM) and funds transfer pricing.

SunGard says that BancWare will help the bank more accurately manage its balance sheet and maximise its risk/return value.

BankMed will use the tool to view and consolidate daily financial statements, calculate daily profit and loss figures and analyse customer behaviour. SunGard says that BancWare's profitability system will handle the high level of calculations this requires, enabling the bank to gain greater financial control and support its growth plans.

The ALM module will be used by the bank to measure and manage the interest and foreign exchange rate risk inherent in its balance sheet, and forecast the impact of differing rate environments.

SunGard's partner in Lebanon, Mideast Data Systems, is to work with the bank to increase data granularity for more detailed and accurate financial analysis.

Marwan Abiad, head of financial control, IT and operations, BankMed, says: "Operating in a competitive and dynamic environment, it is imperative for us to perform sophisticated financial analysis and risk-adjusted performance measurement for future planning. We chose SunGard both for its professionalism and expertise as well as its BancWare technology."

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