Bank of Beirut UK Goes Live with Temenos to Scale Corporate Banking and Trade Finance

Bank of Beirut UK Goes Live with Temenos to Scale Corporate Banking and Trade Finance

Bank of Beirut UK Ltd has formally gone live with Temenos Core Banking and Payments, marking a major technological transformation aimed toward accelerating its company banking development.

The deployment is designed to strengthen the establishment’s place as a trusted accomplice for companies and correspondent banks working across the UK, Europe, Africa, and the Middle East.

Replacing legacy programs in 15 months

By migrating to the Temenos Core platform, Bank of Beirut UK can now supply a complete suite of retail, industrial, and deposit providers. Crucially, the system is complemented by specialised commerce finance capabilities particularly tailor-made to assist companies navigating global markets.

The implementation and migration from the financial institution’s legacy infrastructure have been accomplished in just over 15 months. The project was executed in collaboration with LTIMindtree, a delegated Temenos Delivery Partner.

Sophoklis Argyrou, CEO of Bank of Beirut UK, highlighted the strategic significance of the upgrade:
“Migrating from a legacy system to Temenos’ modern core banking and payments platform allows us to scale our trade finance business and strengthen our corporate and retail banking proposition. We can now offer a broader portfolio of products and deliver superior customer experiences with greater speed and efficiency.”

Unifying global operations

The profitable UK go-live builds upon Temenos’ present, long-standing relationship with the UK entity’s father or mother company, Bank of Beirut, which is one of Lebanon’s top banking establishments.

By unifying each its UK and global operations on a single, trendy platform, the banking group goals to enhance operational effectivity, cut back prices, and speed up the time-to-market for new monetary providers.

Mark Yamin-Ali, managing director – Europe at Temenos, commented: “This successful go-live shows Temenos’ unique strength to deliver comprehensive, regionalized solutions on a unified platform, helping banks in multiple markets to innovate and grow. We’re proud to welcome Bank of Beirut UK as a new Temenos client in Europe and to build on our long-standing relationship with Bank of Beirut.”

Hemal Jayasinghe, chief enterprise officer at LTIMindtree, added: “We are proud to partner with Temenos and Bank of Beirut on this strategic transformation in the UK. Our deep expertise and commitment to delivery excellence ensure a smooth and timely go-live, setting a strong foundation for future growth.”

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