BML Istisharat’s ICBS core system sees success in Lebanon and Morocco
BML Istisharat’s ICBS core banking platform is preparing for a go-live in Lebanon and celebrates a new win in Morocco.
Finance Bank used to top the charts in Lebanon
Finance Bank is a Lebanese investment bank that aims to start operating in April/May 2019 with the new tech; while Société de Financement Nouveau à Crédit (FNAC) just selected the same system with aims to grow.
On the Lebanese side, Finance Bank was established in 1960 and is one of the subsidiaries of Intra Investment.
The bank offers saving accounts and term deposits, medium and long-term loans, housing loans and project financing, treasury bills/bonds, bank guarantees, and safe deposits.
In 2015, the bank says it topped the list in terms of loans and advances to customers, customer’s deposits, total assets and was second in terms of profits.
It seems it wants some of that success back, as it is seeking to expand and improve customer channels through this replacement.
Th transformation project kicked off in October 2018 after a gap study and the implementation process started in November 2018.
On the other side of the Mediterranean, FNAC is a financing company established in Morocco in the early nineties, which offers loans and credit facilities to individuals and SMEs.
The ICBS implementation is planned to start early in 2019 in collaboration with Infoelsa.
FNAC’s project comes as it has set new growth targets with the objective to offer additional products, increase its market share and enhance the quality of its services.
