New go-lives and clients for core banking tech vendor BML Istisharat
New core banking tech go-lives and clients for BML Istisharat
Lebanon-based BLC Bank has ousted the legacy Ambit Treasury Management (Quantum) system from FIS/Sungard in favour of BML Istisharat’s ICBS.
BML already supplies its flagship ICBS solution for core banking operations at BLC Bank. Now, the system’s treasury and capital markets modules support placements/deposits with correspondent banks, interbank transfers, fixed income (bonds and treasury bills), and Swift interface and integration with the main core system through web services at the bank.
Elsewhere, Liberty International Bank, a start-up venture of Société Générale in Abu Dhabi, has gone live on the ICBS core banking system.
Also, Bank of Jordan, a long-standing user of ICBS in Jordan and Syria, has selected the system for its newly established subsidiary in Bahrain.
Further afield, Peterhouse Securities in the UK, also opted for the ICBS core.
Meanwhile, BML is now venturing into Asia Pacific with its core banking platform – Malaysia-based Vastcomp has recently become its distributor in Malaysia, Indonesia, Vietnam, Brunei and Singapore.
BML currently has one customer in that region – Malaysia-based Bank Simpanan Nasional (BSN) – to FinTech Futures’ knowledge. The project dates back to 2011/2012, when BSN chose ICBS for a major core banking transformation project, to replace a number of legacy systems, including the ICBA solution from local developer Infopro.
The deal came through Heitech Padu, BML’s distributor in Malaysia and Indonesia, and the project is expected to cost MYR 100 million ($32 million).
BSN is a government-owned bank, with around 400 branches, 5,100 employees and almost ten million accounts.
