Emirates NBD completes third phase of its core banking systems upgrade
Emirates NBD has completed the third phase of its international core banking system upgrade.
Leveraging Finacle technology, the third phase of the project sees the roll-out of the new core banking system for Emirates NBD Saudi Arabia, following prior launches in Singapore and the UK in November 2018 and July 2019, respectively.
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By end-2020, all Emirates NBD entities and markets will be consolidated onto one single, updated core banking platform, enabling the bank to offer new financial services more rapidly across all markets while reducing global IT costs.
The global initiative is the bank’s biggest in its ongoing AED 1 billion ($272 million) digital transformation that will enter its fourth and final year in 2020.
It has already delivered many large-scale enterprise system improvements. This includes completing one of the world’s largest Calypso upgrades to enhance treasury services and introducing smartTrade for trade finance customers.
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Abdulla Qassem, group chief operating officer, Emirates NBD, says: “This is another important milestone in our long-term digital transformation strategy that has already delivered numerous major upgrades and consolidations to our enterprise applications.”
He adds that the bank’s aims in 2020 is on concluding its most complex, multi-entity initiatives like the core banking system upgrade while ensuring its technological enhancements increasingly translate into seamless, innovative financial services for their customers.