Bank of Beirut UK has expanded its corporate banking operations following the rollout of new core banking and payments technology.

The platform, developed by Temenos, has enabled the bank to launch a full suite of retail, commercial, and deposit services, alongside specialised trade finance capabilities for businesses operating in global markets.

The migration from the organisation's previous legacy system was completed in just over 15 months.

Unifying UK and global operations has allowed both the parent bank, Bank of Beirut, and its UK arm, to boost operational efficiency, reduce costs, and accelerate time-to-market for new services.

The move builds on Bank of Beirut's long-standing relationship with the tech firm.

Sophoklis Argyrou, chief executive of Bank of Beirut UK, said that migrating from its legacy system to the new platform has allowed the organisation to scale its trade finance business and strengthen its corporate and retail banking proposition.

"We can now offer a broader portfolio of products and deliver superior customer experiences with greater speed and efficiency," he continued.

Earlier this month, Bahrain-headquartered Bank ABC's mobile-only subsidiary ila Bank also announced that it had successfully migrated its retail account and lending operations onto a new core banking platform from Temenos.

The migration is expected to provide ila Bank with the speed, agility, and scalability to grow its customer base and launch new products and services at a faster pace.

The cloud-native, API-first architecture also enables "rapid" integration of new capabilities and Open Banking services.

The move marks the completion of the first phase of Bank ABC's wider core banking transformation programme, which involves the bank consolidating multiple back-end systems from across 15 countries onto the banking platform.

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