Emirates NBD boosts AED one billion digital transformation with new milestone in core banking system upgrade
Bank completes third phase of international core banking industry upgrade in Saudi Arabia, following earlier upgrades in Singapore and also the United Kingdom
Marks a major milestone within the banks four-year transformation programme and its specialise in enterprise-wide technology consolidation and upgrades
Emirates NBD, a number one banking group within the region, has completed the third phase of its international core banking system upgrade,as it forges ahead with its current digital transformation efforts to spice up innovation and potency across its domestic and international operations.
Leveraging advanced Finacle technology, the third phase of the project sees the rollout of the new core bankingsystem for Emirates NBD saudi arabia, following previous launches in Singapore and also the United Kingdom in Nov 2018 and July 2019, severally. By end-2020, all Emirates NBD entities and markets are consolidated onto one single, updated core bankingplatform, enabling the bank to supply new monetary servicesmore quickly across all marketswhile reducing world IT prices.
The global initiative is that the banks biggest in its current AED 1 billion digital transformation that may enter its fourth and final year in 2020. It's already delivered several large-scale enterprise system enhancements. This includescompleting one amongst the worlds largest Calypso upgrades to boost treasury services, strengthening the banks global payments capabilities with a brand new payments hub, and introducing smartTrade for trade finance customers, whereas at the same time building foremost, in-house cloud, agile, enterprise information, security and API-based design capabilities.
Abdulla Qassem, group Chief operating Officer, Emirates NBD, said: Emirates NBD is proud to announce the third phase of our international core banking system upgrade in saudi arabia, following successful launches in Singapore and also the United Kingdom.
This is another vital milestone in our long-run digital transformation strategy that has already delivered various major upgrades and consolidations to our enterprise applications. In 2020, our focus is on closing our most complicated, multi-entity initiatives just like the core banking system upgrade whereas making certain all of our technology enhancements progressively translate into seamless, innovative financial services for our customers, he added.
