BML Istisharat Achieves High Ranking of Top Core Banking Software Providers

BEIRUT – Boutique software developer and vendor BML Istisharat has been ranked as one of the world‘s top core banking software providers in both the UK‘s International Banking System Sales League Table and Gartner‘s Magic Quadrant, proving that smaller companies can have an advantage over the heavyweights. BML succeeded in appearing in the top rankings with other big names in Financial Solutions such as Temenos Group, Oracle, TCS and Misys.

BML Istisharat is the architect of all of its software products and solutions, nurturing each system from in-house development, to on-site implementation and continuing product support. The company has built a reputation of personal customer care, and prides itself on being agile and reactive whilst maintaining technical standards and consolidating new markets.

Malaysia-based Bank Simpanan Nasional (BSN) signed for BML‘s new top selling Integrated Computerized Banking System (ICBS). With over nine million BSN accounts and around 400 branches, ICBS’s coverage will include conventional interest calculation and Islamic profit calculation, loans management, Islamic financing, transfers and payments, branch operations, integration and delivery channels.

The ICBS product achieved a ranking of 8th out of 34 Universal Banking Systems in the IBS Sales League Table in 2011. The United Kingdom‘s IBS Intelligence is considered the definitive source for independent research and analysis of the financial technology markets, whilst their annual sales table is universally acknowledged as the barometer for international core banking systems sales.

BML Istisharat was also selected as one of the 20 top core banking software providers on Gartner‘s Magic Quadrant. This model represents the International Retail Core Banking (IRCB) marketplace, and uses specific criteria to assess the suitability of providers and the products they offer in order to support current trends in the market. BML‘s positioning was awarded on their completeness of vision and ability to execute.

Now with over 300 clients across 30 different countries and 5 continents, BML Istisharat‘s client list is a showcase of the global finance industry, including big household names and Fortune 500 companies, their reference list continues to grow.

“I want to express my positive appreciation for your cooperation and my satisfaction for your services.”
– Azzam Zaghloul, IT manager at AXA Gulf

So where to next? BML is hoping to break into the East Asian market, with over 2000 banks currently trying to modernize and in need of high end banking and insurance software solutions.

“They are all very interested in adopting best practices, that is, the international practices, and they are using software as a short-cut. We go directly to the best practices, and a lot of banks are thinking like that too, which is a good opportunity for companies like BML Istisharat.”
– Joe Faddoul, Chairman of BML Istisharat