Beirut's First National Bank Chooses Misys Business Intelligence Solution as its MIS PlatformBy Misys Plc, PRNE
Sunday, November 7, 2010
Deal Marks First Standalone Sale of New IBM-Powered Misys System in the Middle East
LONDON, November 8, 2010 - First National Bank SAL, a privately-owned bank based in
Beirut, Lebanon, has chosen the new Misys Business Intelligence (MBI)
solution to transform its operational data into relevant information on which
to make informed business decisions. The bank will use the solution as its
Management Information Systems platform going forward.
First National Bank provides commercial, retail and investment
banking services to its customers. It needed an effective way to monitor the
bank's performance and ensure compliance with new directives from Lebanon's
Central Bank. It selected MBI having evaluated four other systems.
The bank is the first customer in the Middle East that will
benefit from Misys Business Intelligence and will now be able to gain vital
information for its business in the areas of financial analysis,
profitability analysis & credit risk analysis.
"As the foundation of our MIS program, Misys Business
Intelligence will help our managers to monitor our bank's performance closely
against our established operational targets," states Antoine Wakim, Chief
Financial Officer, First National Bank SAL. "One of MBI's greatest strengths
is its ability to provide the proper level of detail to a particular user so
that they see the exact type of information needed to make critical
decisions. Another significant feature is the speed at which it can be
implemented, which will enable us to derive business benefits faster than
through other alternative solutions."
"Typical business intelligence projects can take over a year
to implement and come with various risks and complications, comments Roy
Froud, Director - Middle East & Africa, Misys. "Our new solution allows banks
to deploy efficient business intelligence architectures in just a matter of
months. Moreover, its use of the IBM Banking Data Warehouse model optimises
logical data structures for fast and accurate segregation and analysis."
Misys Business Intelligence for retail banking specialises in
financial, profitability and credit risk analyses. It is specifically suited
for banks such as First National Bank that already use the Misys Equation as
their core banking solution. MBI can be installed and put into production
very rapidly at minimal risk. The combination of IBM tools, an intuitive
interface and the business intelligence and retail banking expertise of
Misys, brings further benefits to customers. The solution enables managers to
make optimal decisions to improve liquidity and risk management as well as to
Among the business benefits that MBI will specifically provide
to First National Bank are desktop delivery of management information;
"management by exception" functionality to inform managers of deviations
automatically from a target or range; and "root-cause analysis" to identify
problem areas. Data is delivered via dashboards, scorecards and reports which
can be manipulated to provide several levels of visual information. The whole
system will take less than 6 months to implement.
About First National Bank SAL
First National Bank is a full-service banking institution with a
nationwide network of 20 branches throughout Lebanon. FNB conducts
commercial, retail, finance, and investment banking activities in the Middle
East. FNB provides a wide variety of products and services for institutes and
individuals in the region. The bank's headquarters is located in the heart of
Beirut's central district.
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions
that deliver significant results to financial services organisations. We
maximise value for our customers by combining our deep knowledge of their
business with our commitment to their success.
Misys is a leader in banking, treasury, & capital markets, with over
1,200 customers, including all of the world's top 50 banks. Misys employs
around 3,500 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services
company, delivering results for the financial services industry throughout
Misys: experience, solutions, results
Contact us today, visit: www.misys.com
For further information please contact Edward Taylor Global Head of Public Relations Misys Solutions for Banking and Treasury & Capital Markets +44(0)20-3320-5530 email@example.com Sebastian Mathews Financial Dynamics +44(0)207-269-7158 firstname.lastname@example.org
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys, Solutions for Banking and Treasury & Capital Markets, +44(0)20-3320-5530, edward.taylor at misys.com; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158, sebastian.mathews at fd.com
Tags: Lebanon, London, Misys plc, November 8, United Kingdom