The first phase of the software implementation went live on January 4, 2008 and covers CBI's conventional banking, internet banking, treasury and credit card services as well as provides integration with third party ATMs.
The second phase of the implementation features additional service options, more delivery channels and is scheduled for roll-out over the course of 2008.
CBI is the first bank to implement the Silverlake core banking system, making it the largest-ever system upgrade undertaken by any banking institution in the country.
Silverlake's Core Banking solution will seamlessly integrate various aspects of the bank's divisions and systems through a single interface which includes Core Banking, Internet Banking, Trade Finance, Treasury, Card Management, CRM, Data Warehouse & MIS, Islamic Banking, Collection and Anti-money Laundering technology.
"The new system was implemented inline with our vision and strategy for growth, market coverage and operational excellence. Our primary objective is to reinforce our commitment to providing 'Relationships beyond Banking' and above all, our corporate values - quality and customer satisfaction, - are reflected in this latest development in CBI's history," said Abdalla Rashed Omran, Managing Director, CBI
With the new software, CBI will achieve increased efficiency in its multi-channel banking operations, integrated customer service offerings, risk management and compliance measures.
The banking solution offers a single client view across the enterprise and enables customer-centric banking operations for true relationship banking.
"CBI is our second customer in the region to go live with the Silverlake Core Banking Solution. The hard work, dedication and exceptional teamwork shown by both teams resulted in a mutually rewarding and very successful project," said Goh Pen Ooi, Chairman, Silverlake Group of Companies.
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CBI goes live with Silverlake Core Banking Solution
- United Arab Emirates: Saturday, March 15 - 2008 at 10:41
- PRESS RELEASE
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Commercial Bank International, one of UAE's leading financial institutions, announced the launch of it's turnkey project Silverlake Core Banking Solution software to enhance both its conventional and internet banking systems.
CBI felicitated the Silverlake team on successfully deploying and completing its flagship Silverlake Core Banking Solution to enhance operational excellence and business processes within CBI. The system implementation is the largest ever system upgrade undertaken by a financial institution in the UAE. Standing : Faris Saddi, Chief Information Officer -CBI; Sui Fun, Project Manager - Silverlake; Abdulla Rashed Al Omran, Managing Director - CBI; Goh Peng Ooi, Chairman - Silverlake and Datuk Suliman Daoud, Member of the Board of Directors - Silverlake.
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Posted by Eman HassanSaturday, March 15 - 2008 at 10:41 UAE local time (GMT+4)
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About Commercial Bank International (CBI)
CBI started operations on May 1991 with one branch in Ras Al Khaimah and one in Dubai with a paid up capital of Dhs44m and authorized capital of Dhs100M. The paid up capital was increased to Dhs1.089bn as of December 2007. Currently CBI has a network of 10 branches and 41 ATMs spread across the Emirates, in addition to the Call Centre and plans to extend its network with five new branches in 2008. The staff strength is 557, of which 28% are UAE Nationals.
About Silverlake
Silverlake is the largest and most successful IT solutions provider in the Asia Pacific region. Having implemented its award-winning software solutions since 1989, it provides state-of-the-art industry solutions to financial institutions, airlines, utilities, retail and public sector customers. It is the certified implementer of the Silverlake Axis Integrated Banking Solution (SIBS) and the Silverlake Axis Integrated Islamic Banking System (SIIBS). With over 1,700 employees in Silverlake and related entities located across offices in Asia Pacific, Middle East and USA, Silverlake customers include prominent financial institutions.
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