Browse
related articles
It will provide customers with greater flexibility, faster processing and a more personalised service.
DIB celebrated this achievement by honoring the team members who developed this banking system.
Khaled Al Kamda, Group Managing Director and CEO of DIB, and Mr Abdullah Al Hamli, Head of Information Technology and Operations at DIB, personally congratulated the project's team leaders and the various departments on their effort and dedication in ensuring the new system is fully operational and on schedule.
As a result of the new system, bank customers can now perform a range of transactions from any of the bank branches irrespective of where their account is lodged.
In addition, the bank will be able to provide more customised services, achieve a quicker and more cost-effective launch of future products and lower costs for future products.
"As the world's first Islamic bank and a leader in the Islamic finance industry, we have strived to maintain our industry leadership through innovative and superior systems and offerings," said Musabah Al Qaizi, Head of Electronic Banking Service Department.
"Our new technical platform is in line with this commitment and will provide a much more personalised and versatile platform for our customers."
Oracle's FLEXCUBE is a complete banking product suite covering all areas of banking needs, including retail, corporate and investment banking, and is in line with internationally recognised standards.
This programme has been adapted to Islamic banking solutions provided by DIB.
The bank's Information Technology (IT) department has developed additional programs to integrate FLEXCUBE with other systems.
This IT solution has been extensively tested and DIB's staff have been trained in order to avoid any errors that may result during the transition.
Nadeem Busheri, Head of Information Technology Department, said:
"We have been working on implementing FLEXCUBE for 20 months, and we are now pleased to announce that this has been deployed across our entire network. This system empowers us with a comprehensive Islamic banking platform and enables us to offer leading-edge Islamic products and services. In addition, it provides us with greater agility for future product development."
S.Sundarajan, Customer Fulfilment, Senior Vice-President, Banking Products, i-flex solutions, said: "We are very happy that DIB has gone live on FLEXCUBE. Our association with DIB, one of the oldest and most respected Islamic banks, is an acknowledgement of FLEXCUBE's ability to meet Sharia requirements. We are confident that this implementation will enable DIB to meet the expectations of its customers for Islamic banking products that compare in innovativeness and versatility with the best that conventional banking can offer."
Digg
Facebook
LinkedIn
Twitter
Posted by Eman Hassan
It looks like you are using a Mac - check out our 
Web Feeds