The National Commercial Bank of Saudi Arabia has selected the Finacle banking solutions of Infosys Technologies for its delivery channels initiative.
The Bangalore-based global IT major will be deploying the Finacle's Web-based cash management, corporate e-banking, Web-based trade finance, and consumer e-banking solutions.
The NCB is the third bank in Saudi Arabia to have opted for the Finacle Web-based products after Saudi Hollandi Bank and Saudi Investment Bank during the last two years.
Infosys has partnered with Microsoft in the .NET-based offering, the first in the Middle East.
The Jeddah-based NCB with offices in Riyadh and Al Khobar was the first bank set up in the Saudi kingdom and the largest in the Arab world. With most modern services, the bank serves customers the world over with international branches and 600 correspondent banks.
According to senior bank official Hasan Al Jabri, NCB has invested significantly in technology as a tool to transform its business. "Finacle e-corporate and e-channels are the right tools to continue our initiatives," he added.
Infosys' business development manager for Middle East Mohammed Hussain Naseem hoped that the partnership would give the bank derived business benefits.
"This win will help the company to consolidate our market reach in Saudi Arabia and the Gulf region," Naseem stated.
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