Lebanon & Gulf Bank (LGB) has selected Misys Almonde to comply with Basel II regulatory requirements and fulfill its Asset Liability Management requirements.
The bank, which provides a full range of financial services to corporates, institutions and consumers in Lebanon and abroad, is a long-standing Misys customer, running its core banking operations on Misys Equation. It will install the Misys Almonde platform in its headquarters in Beirut, integrating it with Equation and other market data systems in use at the bank.
LGB has also purchased an anti-money laundering application offered by Misys, AML.
“Our relationship with Misys brings us real value,” comments Mr. Samer Itani, AGM from LGB. “As we use Misys Equation as the core system in the bank, it made sense to choose Misys Almonde to enable us to not only have a quick implementation but also not to worry about the cost and risk of integrating two systems. By choosing Misys Almonde we have made sure that the integrity of data and future maintenance of the environment will be the sole responsibility of one company, Misys.”
“We are delighted that LGB have once again put their trust in us to deliver the solutions that are right for their business and their customers,” adds Roy Froud, General Manager, Middle East & Africa, Misys Banking Solutions. “We have a wide portfolio of winning technologies that enable banks to satisfy the demands of their customers and bring value to them.”