ARBIFT awards core banking project to ITS

The contract was officially signed on 15th March, 2005 by Mr. Ibrahim Lootah, ARBIFT General Manager and Mr. Khalid Faraj Al - Saeid, ITS Managing Director & General Manager.

ITS' solution is based on Harland Financial Services' Phoenix Core Banking System - a fully integrated banking environment that covers all core areas of bank Information processing and will bring significant benefits to ARBIFT customers and improve staff efficiency. A unique aspect of Phoenix has been making the management of the Bank's total relationship with its customers at the heart of the new system. The contract also covers Treasury and Internet Banking.

The decision by ARBIFT to select this system comes after several months of planning and detailed evaluation of different products and options before going ahead with ITS.

ARBIFT General Manager, Mr. Ibrahim Lootah said: "The Phoenix system gives us world-class financial services technology that will help us to deliver better services to our business and private customers throughout our branches across the UAE and enhance the competitive position of the bank.

"We are committed to an ongoing investment in technology to ensure that we keep pace with international banking developments and can respond quickly and effectively to introduce new banking products and handle the demands of e-commerce and online banking.

Mr. Ibrahim Lootah said: "In addition to support all core areas of bank data processing the Phoenix system provides significantly greater capabilities for the bank in a number of critical areas including Relationship Information Management (RIM), financial reporting and management decision support."

ITS MD & General Manager, Mr. Khalid Al Saeid said: "We are proud to have been awarded the contract by ARBIFT to supply the support the quality services they need to succeed in the growing financial arena. We are confident that the Banking System we are introducing will bring real benefits to the bank and its customers in the years ahead."

He added that in the area of relationship management Phoenix has uniquely made the management of its bank's personnel to have immediate access to all customer information from account holdings and balances to financial statements, employment history and customer contact history.

ITS has been at the forefront of supplying integrated hardware and software solutions to banks in the region for many years. Already over 50 leading banks and financial institutions are using ITS products and solutions including EFT/POS integration, branch automation, retail banking and Islamic Banking among others.

ITS is a leader in supplying high quality IT solutions to the banking, telecommunications and higher education sectors, besides other industries and has been operating in the region for over 20 years. It employs over 750 staff in offices across the Gulf, Lebanon and North Africa.