Bank of Beirut UK has recently commenced the operation with Temenos Core Banking and Payments to bolster its corporate banking services.

Following this development, Bank of Beirut UK successfully transferred all its operations from its outdated infrastructure within a duration of 15 months. This transition was executed in partnership with technology consultancy LTIMindtree and signifies a substantial operational transformation for the UK-based division as it aims to enhance its presence in corporate banking across regions including the UK, Europe, Africa, and the Middle East.

The deployment provides Bank of Beirut UK with an array of retail, commercial, and deposit services, coupled with advanced trade finance tools suitable for businesses operating internationally. The bank’s parent entity, Bank of Beirut, already utilizes Temenos; hence, this move unifies the UK subsidiary under the same technological framework as its parent organization.

Operational and strategic benefits

The migration to a shared platform with the parent company is anticipated to enhance operational efficiency and diminish costs for both entities. For Bank of Beirut UK specifically, this transition aims to expedite the introduction of new products and services, particularly in competitive fields such as trade finance where timely execution and transactional reliability are crucial.

Following the go-live, LTIMindtree will continue to offer ongoing support through a managed services agreement, maintaining the operational stability of Bank of Beirut UK.

This deployment exemplifies a trend observed among mid-sized international banks with roots in emerging markets. These institutions are increasingly upgrading their UK and European operations to modern core banking systems, ensuring compliance with regulatory requirements while harmonizing their technology infrastructure across groups.

The integration marks an expansion for Temenos within the European market, continuing its existing relationship with Bank of Beirut UK.