
Enabling the largest Saudi Arabian Islamic bank to modernize its Core Banking Platform.
Client
Established in 1957, one of the largest Islamic banks globally and the largest in Saudi Arabia. Headquartered in Riyadh, the bank operates over 600 branches and 4,700 ATMs, primarily in Saudi Arabia, with additional branches in Kuwait, Jordan, and a subsidiary in Malaysia. The bank offers a wide range of Sharia-compliant financial services, including deposits, loans, investment advice, securities trading, remittances, credit cards, and consumer financing. Bank is known for its innovative solutions and commitment to providing exceptional customer service, making it a key player in the financial sector
Highlights
We took over as the system integrator (configuration and customization) from phase 2 of project, with full responsibility for the multi-vendor approach. Built and provided a detailed road map to bank for migrating retail loan customers on to the new lending system.
Solution
Involved in the comprehensive implementation of vendor loan origination and execution systems, taking full responsibility for leading the end-to-end solution delivery. This includes providing workflows for loan execution on Transact by addressing the L1 gaps of Temenos and implementing necessary configurations and customizations for interfacing with the LOS and various external systems. Successfully migrated existing customers to over 40 products already defined by the bank.
Impact
- Modernization of Core Banking Platform: Enabling the largest Saudi Arabian Islamic bank to modernize its core banking platform, enhancing its digital presence and operational efficiency
- Improved Customer Service: The bank’s commitment to providing exceptional customer service is reinforced through innovative solutions and a modernized platform
- Comprehensive Financial Services: The project supports the bank’s wide range of Sharia-compliant financial services, including deposits, loans, investment advice, securities trading, remittances, credit cards, and consumer financing
- Successful Migration: Successfully migrated existing customers to over 40 products already defined by the bank, ensuring continuity and improved service delivery
- Enhanced Loan Processes: Implementation of vendor loan origination and execution systems, including workflows for loan execution on Transact, addressing L1 gaps of Temenos, and interfacing with LOS and various external systems
- Renovation of Credit Processes: Renovation of the credit process, implementation of Temenos credit creation, and operations for limit, guarantee, loans, and collections
- Data Migration: Comprehensive data migration from legacy systems to the new system, covering personal, auto, mortgage, and credit card portfolios
- Data Quality and Reporting: Implementation of data quality assessment, data validation reports, customized data models, and business reports.