IBS Journal November 2015


Four new wins for BML Istisharat and its ICBS core banking system


Beirut, home of BML Istisharat © Wusel007, Wikipedia


Lebanon-based core banking software vendor, BML Istisharat, has signed four new customers for its ICBS core banking system.


Eskan Bank: from Misys’ Equation to BML’s ICBS Eskan Bank, a long-standing user of Misys’ Equation core system, issued an RFP in April. The bank signed for Equation back in 2006. The three finalists, IBS Journal under-


stands, comprised BML, Temenos and 3i Infotech. Misys and its upgraded version of Equation – Fusionbanking Equation – did not feature in the shortlist. The bank’s team visited two of BML’s


reference sites in the region, Bank of Jordan in Amman and Intercontinental Bank of Lebanon (IBL Bank) in Beirut. BML’s Bahraini partner, Almoayyed


Computers, was involved in the selection. The final detailed walkthrough was


carried out in early July of 2015. Eskan Bank will implement a


range of modules of ICBS, namely core, central, branch, loans management, treasury, transfers, real estate manage- ment, interfaces (e-banking/SMS/IVR, Swift, RTGS and ACH) and administrative modules. The main modules are set to go live in


early July 2016. Eskan Bank is a provider of residential


mortgages to low and medium income families in Bahrain and is a significant player in the property development market.


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Banque de Développement de Guinée (BDG): a new bank to fight poverty in Guinea BDG is co-owned by Guinea Central Bank and Malaysian shareholders. The latter have provided a team from Malaysia to assist the bank with its system selection. The Malaysian team saw an ICBS demo


organised for them by BML’s partner in Malaysia and Indonesia, Heitech Padu. Heitech Padu was instrumental in


securing BML’s earlier deal in Malaysia, with Bank Simpanan Nasional (BSN). The BDG team then travelled to Bei-


rut for a detailed walkthrough and several site visits. An aggressive implementation plan has been set up, with the projected go-live date penned for the end of January 2016. BDG was set up by the new govern-


ment of Guinea in 2010/11 to focus on the development of the country’s industries and to assist with poverty alleviation.


Bank of Beirut: all about lending Bank of Beirut is a sizeable player in its domestic market – with 60 branches and a range of retail and corporate banking offerings – and is also active in the UK, Ger- many, Cyprus and Oman. It also operates in Australia under the Bank of Sydney brand. It has representative offices in Nigeria, Ghana, Dubai and Libya. Nearly half of Bank of Beirut’s activ-


ities are in the lending space. The bank has selected BML’s ICBS system to support these operations at home and abroad. To start with, ICBS will be deployed at


© IBS Intelligence 2015 www.ibsintelligence.com


the bank’s head office in Beirut, followed by roll-outs in Europe and the Gulf. The new lending platform will inter-


face to Bank of Beirut’s legacy core system, Misys’ Bankmaster. Once the bank moves to the new core,


Misys’ Fusionbanking, the ICBS interfaces will be updates as well. The bank is a long-standing user of a


broad portfolio of Misys’ systems for core operations, trade finance, trading and risk management.


Lebanon & Gulf Bank: modernising treasury and capital markets (TCM) Lebanon & Gulf Bank (LGB) is a smaller bank with 17 branches in Lebanon and a subsidiary in Cyprus. It also offers retail and corporate banking services. LGB has selected ICBS for its TCM


activities. The new system will support FX, MM, shares, bonds, futures and options, and capital markets front office, with their respective Swift Interfaces. LGB is another long-standing user of


Misys’ solutions, including its Equation core system, Fusionbanking Trade Innovation for trade finance and Fusionrisk for risk management. In 2011, the bank embarked on an


upgrade of its core system, from Equation to Fusionbanking Equation. A year later, it signed for the SAB AT


core banking system from France-based vendor SAB, but the project was subse- quently abandoned.


Tanya Andreasyan


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