BML Istisharat in new insurtech and banking tech projects
Algerian Gulf Life Insurance Company (AGLIC), also known as L’Algérienne Vie, has selected Liris from BML Istisharat for its central life insurance information system operations and its commercial agents and banking partner (Banque Nationale d’Algérie) network.
Life insurance system Liris was chosen after “a thorough selection process”, says the vendor.
The implementation has just begun and go-live is planned for Q3 2019.
L’Algérienne Vie and BML Istisharat have been working together since 2011, with Liris supporting the company’s insurance business in Kuwait.
L’Algérienne Vie is a joint venture of Gulf Insurance Group (GIG) and Banque Nationale d’Algérie (BNA).
Meanwhile, Sociéte Générale Bank Jordan (SGBJ) is in the process of migrating its newly acquired business in Jordan onto the ICBS core banking system, supplied by BML Istisharat. SGBJ, as well as its sister banks in Lebanon and Cyprus, are long-standing users of BML Istisharat’s flagship core banking platform. A few years ago there were plans to move to the Temenos T24 core banking system but this did not come to fruition, FinTech Futures understands.
In Jordan, SGBJ purchased the operations of National Bank of Abu Dhabi (NBAD) earlier this year. NBAD itself is now known as First Abu Dhabi Bank (FAB), following its last year’s merger with First Gulf Bank, to create the largest bank in the UAE.
