Misys plc (FTSE: MSY.L), the global application software and services company, today announces that the Lebanon-based commercial bank, BBAC, has successfully implemented Misys BankFusion Equation across 38 branches.
The bank can now develop applications and introduce new products to market more quickly to cater for the rapidly changing demands of its customers.
BBAC upgraded from Misys Equation to BankFusion Equation, incorporating BankFusion services, to make sure it was benefiting from the latest technology and to take more control over its own product development. Within the BankFusion platform is the BankFusion Service Composer, which enables the bank's staff to re-use any of the existing functionality and build new processes without the need for complex reprogramming.
"BBAC's mission is to understand the financial needs of its clients and do everything possible to satisfy those needs," states Sheikh Ghassan Assaf, Chairman and General Manager of BBAC. "Misys has worked closely with us for many years and has helped us go live with Misys BankFusion Equation in a matter of months, giving us the flexibility to adapt our processes to suit the demands of our customers. We are confident that with BankFusion we will be able to keep ahead of our competitors and provide better service to our customers at the same time as reducing cost/income ratios."
Maruf Majed, Managing Director, Middle East at Misys, adds, "BankFusion has been developed in response to the challenges being faced by today's financial institutions. We are delighted to be able to play an integral part in BBAC's plans to stay ahead of its competition and forge ahead in the market based on innovative technology."
The next phase in the roll out of BankFusion Equation across BBAC's business will be to equip its main two international branches in Cyprus and Iraq with the same flexibility and capabilities to cater to the needs of clients in those countries.
Misys has built a vast amount of knowledge and expertise in the retail banking, Islamic finance, trade finance and financial supply chain market, with award-winning solutions from the front office through to the back office. This enables Misys to add real value to customers and continue to be an innovator in the market. By optimising its world-class experts, partner network and comprehensive solutions, Misys continues to grow and strengthen its leadership position in North Africa.