Lebanon & Gulf Bank Expands Relationship with Misys for Basel II Compliance
Lebanon & Gulf Bank (LGB) has selected Misys Almonde to comply with Basel II regulatory requirements and fulfil its asset liability management requirements. The bank, which provides a full range of financial services to corporates, institutions and consumers in Lebanon and abroad, runs its core banking operations on Misys Equation. It will install the Misys Almonde platform in its headquarters in Beirut, integrating it with Equation and other market data systems in use at the bank. The integrated risk management and compliance platform from Misys will automate regulatory reporting within the bank. LGB has also purchased an anti-money laundering solution to enhance the processes around customer acquisition and verification, monitor suspicious activity and check customers against known watch lists in order to minimise potential risks to the business from fraudulent activity.