In light of SWIFT's SR2020 mandates, the Global Payment Solution (GPI) was introduced to ensure that international payments meet the industry's needs for speed, end-to-end traceability and transparency.
Byblos Bank, Lebanon’s third largest bank, has acquired Turnkey Systems GPI solution in partnership with MDSL, an ITG company, where a successful implementation was achieved despite the market hurdles.
All parties have put significant efforts to ensure a smooth implementation and achieve successful project completion. This was a remarkable achievement as all requested test scenarios and validations with SWIFT were seamlessly approved, and throughout the challenging integration between nuBank and T24 core system.
Following this success, Byblos Bank has acquired the same solution for its branches in Iraq and Cyprus, as well as for Byblos Bank Africa in Sudan.
Turnkey's nuBank GPI is a comprehensive, global and dynamic Web Based solution that aims at improving cross border payments, end-to-end tracking, as well as bank charges transparency. The solution caters for all SWIFT requirements in a user-friendly module with core integration and full automation, whereby minimal to no user intervention is required. It is also able to fully integrate with REST based API for Omni Channel. In addition, the solution contains an advanced BI dashboard that is specifically designed for analytics and auditing purposes. Alerts, notifications and various reports are also generated.
The implementation of the software is part of Byblos Bank’s drive to be SWIFT recognized and listed in their global lists as a trusted bank that is fully compliant with SWIFT's regulatory requirements and other compliance obligations.
MDSL and Turnkey Systems (a certified and registered SWIFT partner) thrive to continuous improvement where we are currently developing an enhanced version to include GPI for corporate use. Leading banks from across the MENA are in the process of implementing the company's solution.
About Byblos Bank
Byblos Bank was established in 1963. It is one of the Alpha banks in Lebanon. It is the country's third largest bank by assets.
With presence in 8 countries in the Middle East, Europe, and Africa, Byblos Bank has among its shareholders the International Finance Corporation (IFC), a member of the World Bank Group, the Agence Française de Développement and its subsidiary PROPARCO. The Bank provides full-fledged consumer banking, commercial banking, correspondent banking, and capital markets services.
In all the countries where it operates, Byblos Bank adheres to international standards of corporate governance, customer satisfaction, and quality service.
It is worth mentioning that Byblos Bank is listed on the Beirut Stock Exchange (BYB).
For more info: www.byblosbank.com
About Turnkey Systems
Turnkey Systems sarl is a leading software house in Lebanon that was established in 1988. Specialized in FIN Payment solutions, SWIFT Integration, ACH/SEPA Integration, AML/CTF, FATCA Reporting, CRS Reporting, retail banking and large corporate business application integration. Currently, SDN Lists screening, Payment Hubs. Currently their banking financial & retail applications are running in more than 50 regional banks operating in Lebanon, Jordan, Algeria, Egypt, Iraq, Libya and Cyprus.
For more info: www.turnkey-sys.com
Established in 1978, MDSL, an ITG company, has a proven track record in the supply and integration of turnkey banking solutions in Lebanon and the Middle East region, including Satellite application Banking solutions, EFT and payments solutions.
In addition, MDSL offers Telco solutions, business analytics and business intelligence.
For more info: www.mdsl.com.lb