COUNTRY FOCUS: LEBANON
With today’s customers
demanding ultra-fast and
convenient banking services via
mobile devices, the Bank of Beirut
and the Arab Countries (BBAC)
has transformed its core banking
infrastructure with Fusion Equation. This
has paved the way for more convenient
digital banking services and enhanced the
core banking system that underpins the bank’s
customer-facing services and strengthened its
regulatory compliance. BBAC now benefits from
cutting-edge functionalities enabling new digital
banking services that customers can access
anytime, anywhere from the device of their
choice and has freed resources so it can focus on
business-critical operations.
BBAC upgrades core
banking services to
grow market share
The challenge banking is facing is
changing rapidly in the digital
age, with people increasingly
choosing to open accounts and manage
their money online.
To deliver innovative, compliant banking
services both in-store and online, BBAC set
out to upgrade its core banking solution –
paving the way for digital innovation
while ensuring full compliance with
regulatory standards.
The solution to satisfy recent changes
to SWIFT regulations and build modern,
digitally-enabled services, BBAC modernised
its core banking infrastructure with a smooth
upgrade to the latest version of Fusion
Equation. To compliment the upgrade,
BBAC is integrating its core banking system
with Fusion Teller to drive more efficient inbranch
operations.
The result following its upgrade is that BBAC
can meet customer expectations for fast,
convenient, and secure online and in-branch
banking services. The upgrade also opens the
door to cutting-edge product development
– helping the bank to stay ahead in a rapidly
changing sector without compromising
regulatory compliance.
BBAC has evolved its core banking
infrastructure with Fusion Equation, paving
the way for the development of more
convenient, digital banking services.
Meeting evolving expectations
Today’s customers increasingly expect
ultra-fast, convenient, omnichannel banking
services. To stay ahead of competitors and
market disruptors, banks must develop
attractive products and services that meet
these evolving expectations.
With over 60 years’ experience as a regional
leader in the Middle Eastern banking sector,
BBAC is no stranger to innovation. Recently,
the bank set out to expand both its physical
and digital presence.
Toufic Abi Farraj, Head of IT Department at
BBAC, said: “The world of banking is changing
fast. Now, many of our customers expect to
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