Saudi Investment Bank selects CIT Global's SADAD Integration solution

In parallel, American Express, an entity of SAIB, has also named CIT Global to implement its Bill Reconciliation service.

CIT Global continues to pursue its commitment to SAMA's initiative to streamline bill payment transactions for end consumers through all channels of the Kingdom's Banks through SADAD. Our early and close involvement with the SADAD initiative has enabled us to provide an innovative end-to-end integrated product to satisfy the needs of all members and beneficiaries of the SADAD network.

CIT' SADAD Integration Solution, a product distinguished with innovation, state-of-the art technology and market tested quality, is composed of two components : SADAD Gateway for Banks who would like to provide SADAD bill payment services through their various channels, and TASDEED Gateway for billing entities (Government institutions, Enterprises, banks, etc.) who would like to have their billable clients benefit from the SADAD services when settling their bills.

"The cooperation of SAIB bank with CIT Global will result in the interaction between the bank with all its branches and its customers all over the Kingdom through SADAD Hub," said Amr Hazem, Middle East Managing Director- CIT Global. "Moreover, TASDEED will facilitate American Express's collection of bills through SAIB different banking channels."

CIT Global solution will provide SAIB with a complete framework to integrate with SADAD and provide American Express, as a billing entity of SAIB bank, with bills collection service through TASDEED Gateway for Billers.

CIT Global has implemented the first fully automated integration with the SADAD network for SAMBA Financial institution which was followed by Emirates International Bank. Capitalizing on our technical and business know-how, CIT has successfully delivered total turnkey solutions for GCC and KSA leading banks based on CIT Integration Products.

In addition to the established leading SADAD Integration product, CIT offers a full range of sophisticated eSolutions and eServices to government institutions, Enterprises and Banks connecting to SADAD; starting from providing detailed Impact Analysis and Business Rules Assessment, to Integration Planning Development & Implementation, Testing, On-boarding Migration Planning and finally Going-Live.