NATIONAL BANK OF FUJAIRAH POISED TO ELEVATE PRODUCT AND SERVICE OFFERING THROUGH NEW BANKING SOLUTION
National Bank of Fujairah (NBF) is set to take its value offering to new heights with the implementation of a new core banking system, which will allow the UAE bank to gain numerous competitive advantages. These include increased flexibility and scalability to introduce new and innovative products and services, as well as improve service levels and operating efficiency.
NBF has contracted Gulf Business Machines (GBM), IBM’s sole distributors, excluding selected IBM products and services, in the GCC with the exception of Saudi Arabia, to implement the new infrastructure. The implementation process was begun in August of this year.
Overall, the solution components being implemented by GBM include: new IBM System p Servers, IBM System x Servers, IBM DS4300 storage sub-system, IBM WebSphere, MQ Series and Tivoli software, as well as the latest in Cisco networking components.
The technology upgrade is part of the bank’s ambitious expansion plans, and it follows a thorough review of the bank’s existing infrastructure components. The outcome from a customer perspective will be an expanded range of choices – from more efficient and cost-effective product and service propositions, to increased ways to conduct business with the bank.
“The IBM hardware solution is an integral part of our core banking integration and is set to help take our customer service offering to a new level,” said Mr. Asad Ahmed, General Manager, NBF.
“Customer service will be enhanced as a result of increased flexibility, scalability, integration and operational simplicity, while internal productivity will be improved and the ability will exist to develop more innovative delivery channels and offer new and innovative banking products.”
Significant growth and successful diversification of NBF’s primary business in the corporate banking and trade finance arena in the years since its establishment in 1982, has resulted in ambitious plans to further widen its product and service range. These plans call for the selective expansion of its retail banking services while steadily building upon its existing and extensive corporate banking services. To achieve this – and accommodate its consistent growth – the need to replace its existing core banking system was paramount.
“The new system will enable the bank to open up its online banking, offering a wider variety of services and products to its customers. The solution, scheduled to go live in March 2007, will provide the bank with a suitable environment for the product teams to introduce new products into the bank’s product range,” said Ashok Bhola, General Manager, United Computer and Management Consultancy (UCMC), GBM’s operations in Dubai.
"The selection of GBM over competing contenders followed a thorough review of the overall value proposition each offered. The GBM offer provided the reliability of a well established player in the banking solutions arena, as well a global partnership with our software providers, ensuring a well integrated end system," added Mr. Sanjay Rajani, Head -Information Systems and Technology Division, NBF.
About National Bank of Fujairah
National Bank of Fujairah (NBF) (www.nbf.ae) was established in 1982 in Fujairah, United Arab Emirates. Its key shareholders include the Government of Fujairah and the Government of Dubai.
The existing branch network is composed of nine branches throughout UAE, with plans to increase the number of branches up to 12 by the end of 2006. NBF is listed on the Abu Dhabi Stock Market under the symbol “NBF”.
About Gulf Business Machines
With roots stretching back more than 16 years, the Gulf Business Machines’ companies are IBM’s Sole Distributors, excluding selected IBM products and services, in the GCC with the exception of Saudi Arabia. Gulf Business Machines BSC provides services and support to IBM distributors. As the largest locally situated IT solutions and service provider Gulf Business Machines satisfies the technology requirements of local, regional and international businesses and governments in the region. The company's comprehensive portfolio of IT solutions and services also includes the offerings of a range of international business partners. The company offers award-winning, globally acclaimed solutions and the security of its strong regional presence, extensive reach and its unrivalled market knowledge. GBM is the recipient of the prestigious Dubai Quality Appreciation Award from the Government of Dubai.
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