Bank of Beirut UK adopts Temenos core to drive growth

Bank of Beirut UK has gone live on Temenos Core Banking and Payments, changing its technology stack as it pursues growth in corporate banking and trade finance.

The UK subsidiary of Lebanon-based Bank of Beirut now has a single core banking and payments system for its local operations. It plans to use the platform to expand services for corporate clients and correspondent banks across the UK, Europe, Africa and the Middle East.

Bank of Beirut UK is offering retail, commercial and deposit products on the Temenos platform, and has added trade finance capabilities for businesses operating across borders.

The migration from the bank's previous system took just over 15 months, with LTIMindtree supporting the implementation as a Temenos delivery partner.

Technology shift

The move reflects a broader push by banks and subsidiaries to replace older core systems. Core platforms sit at the centre of account processing and product administration, and connect to payments and digital channels.

Temenos provides core banking software used by banks in multiple markets, alongside payments and other banking modules. These can be deployed in different configurations, including on-premises, in the cloud or via software as a service.

For Bank of Beirut UK, the project also aligns more closely with the parent bank's existing relationship with Temenos as the group seeks a more unified approach across operations.

Group alignment

Temenos said a shared platform across the parent bank and the UK subsidiary can improve operating efficiency, reduce costs and shorten the time needed to launch new services.

Sophoklis Argyrou, Chief Executive Officer of Bank of Beirut UK, said the migration is part of a wider update to services for corporate and retail customers.

"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," said Argyrou.

European focus

Temenos positioned the rollout as an example of its work with banks operating across regions, describing Bank of Beirut UK as a new client in Europe.

Mark Yamin-Ali, Managing Director for Europe at Temenos, said the implementation shows how the vendor approaches deployments across multiple markets.

"This successful go-live shows Temenos' unique strength to deliver comprehensive, regionalised 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."

Delivery partner

LTIMindtree said it worked with both Temenos and the bank on delivery and migration, and pointed to ongoing work after the initial rollout.

"We are proud to partner with Temenos and Bank of Beirut on this strategic transformation in the UK. Our deep expertise and commitment to delivering excellence ensure a smooth and timely go-live, setting a strong foundation for future growth. Continuing collaboration for progressive innovation and production support as a managed service is a strong sentiment for a successful partnership."

Bank of Beirut UK said it will use the new system to expand its corporate banking operations and develop its trade finance proposition for clients active in international markets.