Established by Bank of Beirut, BoB Finance started operating in 2005 to become one of the largest financial services providers in Lebanon. The 900 locations between standalones and subagents cover the whole Lebanese territory and refer to headquarter where compliance and account approvals are centralized as well.

Solutions

Master Data Management

Financial institutions are constantly looking for opportunities to sustain and grow their customer roster. in’Governance manages the massive amount of data generated and collected every day through daily operational transactions to provide insightful information about their customers. It organizes all the available data by eliminating discrepancies and redundant information, while keeping only accurate and structured data that will be set as a reference and which represents the single version of the truth. Master Data Management is the solution that is both easy to deploy and flexible enough to solve your unique business challenges.

Introduction

Master Data Management: Challenges

Changes Limitation Any new request needs time for analysis and development, several changes imposed based on the market need and customer satisfaction.
Information Access Limitation Data manipulation and access is difficult when searching or retrieving information.
Information Redundancy Same information saved in multiple systems and used by all services using an intermediate layer between Systems and Services.
Technical Infrastructure Not Aligned with Market Trends Old and non-scalable technology applied which limited the development of new functions within the existing tool.
Business Process Flow Limitation No tools are available for supporting the Business Process Management.

Challenges

Master Data Management : Key Achievements

Business Requirement Gathering and GapAnalysis Identifying the client’s pain points and needs leads the business team to prepare a detailed Business Requirement Book covering all the services life cycle and setting the Business Process Management Schemas. This task provides the client with a documented description to be archived enclosing the business and the gaps diagnosis along with the suitable remedial.
Technology Infrastructure Using a common architecture for all vbs Suite components with well-known Frameworks (Spring MVC, Spring Core, Spring AOP, myBatis, ZK Front-End Framework) brought to the user through a library of User Interface and Technical Objects (Security, RDBMS access, Translations, Logs).
Building and Maintaining a Secure Network Online businesses constantly expose Money Transactions information to server threats. Firewalls help block transmissions that fail to meet specified security criteria. They also safeguard networks and connections from unauthorized external threats. Router configurations must be secure enough to block IP addresses from intruders.
Data Cleansing (Integrity, Quality) The strength of our solution is that many applications are linked to the same pool. The information will be unique for all the systems so no need to store the same data in different repositories. The information will be consistent avoiding redundancy and double work. Our solution can be deployed rapidly and easily, and includes the full assortment of data integrity, data quality, and BPM capabilities required to successfully complete any MDM project.
Privilege and Credentials Definition The access to both Back End and Front End applications is subject to access rights and privilege assigned to the accessing user; his options will be specified by the Administrator on the System level and will be reflected in both MDM and Services Portal. Security access rights are managed via an application service accessed by the authorized actors.

Key Achievements

Master Data Management : Benefits

Flexibility MDM is a journey. Although your business may first buy a product for one type of data integrity problem, you should be able to use that solution to solve additional ones since you own a complete and reliable solution.
Built for Data Variability Likewise, it needs to handle multiple data types: customer records as well as products, locations, accounts, and all related elements. Nevertheless, you can make use of the database for reporting and deep business analysis.
Scalability Many MDM problems are exceedingly complex. But you don’t want to take a year for the initiative to get off the ground. The solution offers the ability to break down a data problem into smaller components.
Powerful Business Definition We deliver value directly to your business users by immediately improving business processes and helping them discover relations in the data that gives them powerful insights.

Benefits

Services Portal

in’Payments are natural and easily accessible. The design is dedicated to incorporate an intuitive user interface, certified for multiple browsers and devices; using industry standards incorporating VALOORES v7 Technology. Security is a high concern for all financial institutions, trying to keep their company and customers as safe and secure as possible. Using in’Payments provides a secure login interface by using unique credentials to access their services. CAPTCHA, an intuitive security layer, is added to enhance security features and deter fraudulent attempts by blocking unauthorized access.

Introduction

Services Portal: Challenges

New Services Implementation Limitation Any new service needs time for implementation; too many services occur and wait in a queue.
Technical Support Limitation No prompt support neither quick intervention when it comes to non-critical issues knowing that it affects the productivity and the performance of the end user.
Rigid platforms Different solutions from different providers: Absence of managing processes related to the different services within the same User sign-on.
Data Presentation Layer and User Interfaces Presence of Information Redundancy and non-readiness for existing User Interface, leads to difficulties in upgrading to mobility management.
Real Time Updates Management No real Time data Synchronization and absence of Real Time information update since the Data are refreshed and synchronized by overnight jobs.

Challenges

Services Portal: Key Achievements

Service Oriented Application and Efficient User Interfaces Provide a level of dynamicity to the environment parameterization and Normalized User Interfaces reflecting the Business Process Management. Interfaces platform managed by the latest mobility technology.
Homogeneous and Flexible Platform Providing a homogeneous, scalable and flexible platform for the different services and applications. Offering a solution based off one and unique stage, where all services are pluggable.
Implementation of new services simultaneously and in short period Implement new services simultaneously and efficiently, guaranteeing an ongoing data quality and a smooth system evolution with changing business needs.
Enhances day-to-day technical operations and transactions Enhance the communication between the different Services, Real Time Synchronization Implement an improved data refresh mechanism.

Key Achievements

Services Portal: Benefits

Homogeneous and flexible platform for all services and application Minimize the cost of new services deployment and no other additional technology cost will be invested.
Enhancement of the applications performance for a better customer service Minimize the time frame for transaction and processes accomplishment, the Customer is served with better quality and less time.
System Availability Manage Business continuity and preparedness for disaster recovery.

Benefits

Implemented Services

BoB Finance in collaboration with VALOORES provides a variety of services:

  • Money Transfer: Covering money transfer transactions domestically through an easygoing Intra transfer application. Also covering international money transfer transactions through the incorporation of Western Union.
  • Bill Payment: Settling landline, mobile post-paid, and mobile pre-paid bill payments at any location.
  • Online Payment: ‘CashU’ is an electronic payment method assisting any business in becoming a successful online merchant. The ‘CashU’ is a physical top-up card, recharged by its customers as needed.

  • Government Bill Collection: Engineers and Pharmacists all across Lebanon can now pay membership and insurance fees at any of BoB Finance sub-agents.
  • Ministry of Finance: BoB Finance now covers a variety of sub-services under the supervision of the Ministry of Finance such as Mechanic fees payments, TAX fees payments, VAT fees payments, and Property Built fees payments.
  • Government Bill Collection: Lebanese National Higher Conservatory of Music students – both current and prospective students – can now pay their tuitions at any of BoB Finance sub-agents. Through this service as well, the residents of the Bekaa region can now pay their yearly water membership amounts.
  • VIP Cards: BoB Finance provides loyalty cards called VIP cards for point’s collections and later redemption by customers. Points calculate based on the transactional performance of the customers.

Conclusion

By implementing both in’Governance and in’Payments as a turnkey solution, institutions have the opportunity to enhance the customer experience and build on customer relationships through knowledge and trust by understanding in depth their customers’ needs and wants.