Lebanon-based bank Bankmed has gone live with Profile Software’s AcumenNet for its group-wide treasury platform.
Following a request for proposal, the bank decided to upgrade its IT infrastructure deploying new core banking, customer relationship management and treasury management platforms.
AcumenNet, which has been deployed as front-middle-risk treasury system, was selected to help achieve the digital transformation by increasing efficiency, control and straight-through processing.
The platform was implemented in collaboration with Oracle since it has full integration to FLEXCUBE Universal Banking System (FCUBS).
Fouad Baalbaki, CIO at Bankmed Group, said: “AcumenNet is the ideal treasury management platform for us, as well as the team that supports it since we are able to automate our process, being ready, despite the adverse difficulties in the country and across the world, to deliver a continuous customer service and the bank being compliant to local and international standards, while digitally and remotely.”
Bankmed has more than 2,000 employees, 50 local branches, one e-Branch, five overseas offices and four banking subsidiaries.
Earlier this month, Attica Bank picked Profile Software’s risk management system for regulatory capital calculation, liquidity risk indices as well as XBRL validation and reporting.
