Bankmed Leverages Profile Software’s Acumennet for Digital Transformation

Bankmed, one of the largest banks in Lebanon, has gone live with Acumennet, a Profile Company, as its Group wide Treasury platform.

The Lebanon-based bank is going to utilise Profile Software’s Acumennet for digital transformation. In other words, the bank decided to upgrade its IT infrastructure deploying new core banking, customer relationship management and treasury management platforms, thus delivering faster services across users and customers.

Bankmed has more than 2,000 employees, 50 local branches, one e-Branch, five overseas offices and four banking subsidiaries.

Acumennet has been deployed as a Front-Middle-Risk Treasury system across a comprehensive spectrum of asset classes such as Forex, Money Market, IRS and CRS, Currency Options, Futures and Options, as well as Securities. The platform was implemented in collaboration with Oracle since it has full integration to FCUBS. By selecting the award-winning Treasury Management platform, the bank is able to manage a wide range of instruments including very complex derivative structures and benefits from a robust technology infrastructure for its operations, as well as for its risk management.

"AcumenNet is the ideal treasury management platform for us, as well as the team that supports it since we are able to automate our process, being ready, despite the adverse difficulties in the country and across the world, to deliver a continuous customer service and the bank being compliant to local and international standards, while digitally and remotely." stated Fouad Baalbaki, CIO at Bankmed.