LogicaCMG secures 27 million US dollar contract to modernise The National Bank of Kuwait's banking infrastructure

LogicaCMG will manage the replacement of NBK's current bank branch teller and core banking systems alongside implementing a service orientated architecture (SOA) platform. This will enable the bank to gain competitive advantage, achieve greater business agility and respond efficiently to global regulatory requirements and market changes while also helping NBK to achieve its ambitious expansion plans.

Phase one of the contract has already been completed with LogicaCMG undertaking a business study which led to the production of a transformation roadmap and creation of full technical and business architecture plans. Once the implementation of these plans is complete, NBK will benefit from streamlined processes, new branch functionality, enhancements to other bank functions including banking operations, retail and corporate banking and the ability to offer more flexible products, pricing and services which can be delivered more quickly to market. NBK will also achieve greater efficiency and scalability through the introduction of straight through processing and improved management control and compliance.

Dr. Fadi Chehayeb, CIO at NBK, explained:

"LogicaCMG was the best fit for this project because not only could it provide the systems integration, technical and business consultant skills we needed but it also had the right third party relationships in place along with local support and a very strong cultural fit with our organisation. LogicaCMG's proven ability in the field alongside the fact that our auditors highly recommended it meant that it was the ideal partner to help us transform our business systems."

Abdelhamid Suboh, financial services director at LogicaCMG in the Middle East, commented: "LogicaCMG has considerable capability and experience with core system replacements at financial services organisations. We have been involved in over 40 such projects from which we have developed proven methods and approaches. This was a key decision factor in NBK's selection of LogicaCMG as a partner for the transformation of its business."

Since its foundation in 1952 as the first national bank and the first joint stock company in the Gulf Region, NBK has become the largest Kuwaiti bank and the highest rated in the Middle East. NBK has an extensive regional and international network which includes branches, subsidiaries and representative offices in New York, London, Paris, Geneva, Beirut, Jordan, Bahrain, Qatar, Singapore, China, Iraq and Saudi Arabia.

LogicaCMG has worked with 80 per cent of the world's top 50 banks and more than 70 per cent of the world's top financial institutions. Its financial software solutions enable the transfer of more than US$5 trillion per day and it has implemented more than 40 core banking solutions over the last 10 years.