Al Baraka Bank Sudan transforms into an intelligent bank with iMAL*BI
- Banking , Islamic Finance
- 11.05.2020 01:53 pm
Path Solutions, the market-leading provider of Sharia-compliant digital solutions to the financial services industry, today announces that Al Baraka Bank Sudan (“BBS”), a subsidiary of the strategic Bahraini multinational banking corporation Al Baraka Banking Group, has successfully completed the implementation of its new Business Intelligence solution on March 13th.
Path Solutions’ iMAL*BI solution - part of the new Path Intelligence platform - enables financial institutions to harness data and analyze it intelligently. The solution provides significant competitive advantages and helps transform the bank’s business into becoming analytically focused and customer-centric.
iMAL*BI is data-driven and uses top trends in data visualization and analytical power. The solution comprises comprehensive data marts equipped with standard facts and dimensions as well as progressive measures that empower the bank’s workforce to build ad-hoc dashboards, in-memory, to portray graphical representations of their data queries. It is rich in out-of-the-box dashboards, covering financial accounting, retail banking, corporate banking, investments, trade finance, limits, in addition to C-level executives’ analytics boosting a base set of KPIs, dashboards and advanced analytics which are essential to each executive with highly visual, interactive and collaborative dashboards backed by centralised metadata security.
This strategic platform empowers bankers to make smarter, faster, and more effective decisions, improving operational efficiency. It also enables business agility while driving innovation, competitive differentiation, and profitable growth.
The implementation covered the establishment of a comprehensive end-to-end data warehousing solution, an automated ETL process and a progressive data model. The successful deployment of iMAL*BI represents a key part of BBS’s technology transformation strategy, undertaken to prepare it for its digital transformation move with the aim of changing their business model and benefit from new revenue and value-producing opportunities.
Mohammed Kateeb, the Group Chairman & CEO of Path Solutions said, “To make informed choices, businesses today need to base their decisions on evidence. The mountains of data that financial institutions and their customers produce is colossal. By aggregating, standardizing, and analyzing that data and identifying patterns, they can better understand their customers, better forecast revenue growth, and better protect themselves against business pitfalls. As such, we are delighted to have completed the successful implementation of iMAL*BI using Microsoft Power BI at BBS - a deployment that forms a central part of the bank’s increasing focus on innovation by using top-notch intelligent solutions to support its growth objectives”.
Elrasheed Abd Elrahman Ali, General Manager of Al Baraka Bank Sudan commented, “We are proudly putting technology at the centre of our growth plans. A key part of our new digital transformation program is the implementation of the cutting-edge iMAL*BI from the Path Intelligence platform. On behalf of Al Baraka Bank management, I would like to extend my gratitude and appreciation for all of the hard work and dedication provided to achieve the successful implementation of the solution during incredibly isolating and though times. The endless hours that Path Solutions’ project team have spent working on this project, and the professionalism they have portrayed has really impressed our entire team immensely and we deem ourselves honored to have them as our project sponsor”.