Accenture Supports Abu Dhabi Commercial Bank’s Tech Transformation
Accenture (NYSE: ACN), the global professional services company, has supported Abu Dhabi Commercial Bank (ADCB) in a historic transformation of the core technology running the bank’s day-to-day operations. This transformation sets the stage for the bank’s digital future, enabling ADCB to introduce new products and services to clients more easily and swiftly.
Accenture helped ADCB replace the separate systems running its retail banking, corporate banking, Islamic banking and trade finance operations with a single core banking solution. The new simplified and merged solution also involved significant changes to more than 130 applications connected to the core system, making it the most complex technology transformation in ADCB’s history. The project took two years to complete, with the new system going live in September 2017.
Accenture managed the entire program, from developing the strategy for its implementation to monitoring the execution, and also trained ADCB’s staff to provide services to customers with the new system. The changes affected nearly 3,000 ADCB employees, whose extensive training enabled them to be ready to serve customers when the project went live.
Critical to the success of the technology revamp were direct involvement of ADCB’s top management, which enabled quick strategic decision-making, and the creation of a dedicated transformation team, with commitment from more than 350 key banking staff.
ADCB’s decision to launch this complex project was driven by its ambition to be ready for a digital future and leverage the flexibility of the new, state-of-the-art technology to bring more agility to its operations and deliver innovative products to customers.
“Our experience delivering core banking transformation programs around the world played a key role in our work with ADCB, helping position them to reduce risks, improve services and increase efficiencies to drive sustainable growth,” said Amr El Saadani, a managing director at Accenture who leads its Financial Services practice in the Middle East and Turkey. “We are very happy to have been a part of the bank’s transformational journey.”
Accenture is a global management consulting, technology services and outsourcing company, with approximately 204,000 people serving clients in more than 120 countries.
Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments.
The company generated net revenues of US$21.6 billion for the fiscal year ended Aug. 31, 2010.
Abu Dhabi Commercial Bank
ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010.
ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative, Islamic products, project finance and property management services.
ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market.
ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for “Best Corporate Governance in the UAE” and was recently named “Best Retail Bank in the UAE and GCC 2010” by The Asian Banker magazine in March 2010.