Al-Rajhi CFE transforms into a Saudi retail bank
The Al-Rajhi Commercial Foreign Exchange (CFE) company recently received approval from the Saudi Arabian Monetary Authority (SAMA) to become a retail bank. It brought in NCR IT Infrastructure Services to create the technology platform that will enable the company to complete its transition from a foreign exchange services provider to a provider of a full set of banking services.
The company was founded in 1972, with a paid-up capital of SR 50 million. “Rajhi CFE is an organization in transformation. We are fundamentally recreating our business,” said Rajhi CFE IT Manager Souheil Salloum. “Saudi Arabia is an extremely competitive market with many strong players. We needed to create our new banking and information systems infrastructure in a very short time, but we had to be sure that they would run flawlessly from the first day we open our doors as a bank.”
NCR presented a secure network management solution based on end-to-end Cisco technology to provide multiservice connectivity between Rajhi CFE’s 130 locations throughout the Kingdom, with high-speed access for around 800 users.
“Intrinsic multiservice support is an important factor in our network design, as it allows us to take multimedia traffic directly to each desktop on the network, from any point in the Kingdom to any other point, within the same office or on different sides of the country, easily and cheaply,” said Naim Yazbeck, NCR e-BIS sales manager for Saudi Arabia.
In June 2001 Rajhi CFE signed with NCR IT Infrastructure Services to provide it with a complete network design and implementation, together with security systems, network management and ongoing maintenance. Core infrastructure rollout began in September 2001, finishing in November. Network analysis and probing will follow, leading to the full implementation of a comprehensive security system as the systems are readied to go live.
NCR Corporation is a $6.2 billion provider of business solutions in the retail, financial, communications, manufacturing, travel and transportation and insurance markets. NCR's Relationship Technology solutions include privacy-enabled warehouses and customer relationship management (CRM) applications, store automation and automated teller machines (ATMs). NCR employs 31,900 in 130 countries, and is a component stock of the Standard & Poor's 500 Index. — (menareport.com)
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