RAKBANK implements InfosysFinacle core banking solution

Infotech Lead Asia: The National Bank of Ras Al-Khaimah (RAKBANK) has implemented InfosysFinacle core banking solution.

Finacle assists the bank to better anticipate customer needs, improve customer experience and launch innovative products faster. More than 700,000 customer accounts at RAKBANK have moved to the new solution since June 2012.

Infosys claims that Finacle is delivering significant improvements across all 36 branches of the bank. The new solution has enabled RAKBANK to streamline business processes, resulting in higher productivity across branches. Finacle core banking solution has assisted RAKBANK to integrate more than 35 other systems, replace redundant ones and introduce more efficient processes.

Moreover, the customer information provided by the system helps the bank bring new products to the market faster. The solution also automates the core functions of the bank’s data centers ensuring reduction in manual errors and streamlined operations.

In addition, the Finacle e-banking solution that already drives the bank’s online transactions works in perfect tandem with the latest solution. The e-banking solution supports more than 325,000 accounts and facilitates an average of 250,000 transactions dailyacross RAKBANK’s various branches.

Tim Basford, COO, RAKBANK, said: “The FinacleTM implementation gives RAKBANK a technological leap forward when it comes to improving our products and services. We worked with Infosys to deliver a smooth start-up of the new system, with absolutely no disruption to customer service.”

“We are focused on helping banks enrich customer experience and drive business growth. RAKBANK is one of our valued customers in the Middle East. This partnership with Infosys Finacle is the beginning of a transformation that will help RAKBANK deliver best banking services to its customers,” said Haragopal M, global head, Finacle, Infosys.

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