National Bank of Bahrain Selects Finastra to Future-Proof Treasury Business
- 30.09.2020 01:44 pm
National Bank of Bahrain is live with the latest version of Fusion Kondor, Finastra’s treasury management solution. The move will enhance and automate the bank’s treasury and trading operations, including price calculations, trader activity monitoring and risk management, enabling it to offer new products to its customers and grow its market share in Bahrain, as well as expand into new markets.
Maha Al Mahmood, Head of Treasury Customer Service Sales Flow Business at National Bank of Bahrain, said: “We are on a journey towards transforming and digitalizing our business by bringing more innovative services for all our customers, whether retail or corporate. Treasury is an integral part of the bank’s operations and its revenue stream. Automating this part of the business means that we can further improve the customer experience and expand our operations.”
Fusion Kondor will give National Bank of Bahrain an independent view of valuations and risk involved in treasury activities, which are crucial to the bank and to regulators. The bank’s efficiency and speed in settling and processing payments, and independently evaluating all pricing and trading decisions in real time, will further strengthen risk management for the bank’s trading operations.
Jaffar Hussain, Head of Liquidity and Market Risk at National Bank of Bahrain, said: “For our ambitious project to succeed, we needed a robust and flexible end-to-end trading solution. We knew that by automating the majority of our trading operations, we could provide our customers with ultra-responsive services while also achieving significant efficiency savings. We needed a solution that could be plugged into different tools across business lines and which could evolve over time to meet changing markets and regulatory demands. Fusion Kondor does exactly what we need now, but it also gives us the ability to plug into other solutions further down the line, enabling continuous innovation.”
Serge Tohme, Managing Director MENA and Turkey at Finastra, said: “With the latest version of the software in place, National Bank of Bahrain can explore opportunities to enhance its products and services using the solution’s open APIs. This, combined with the endless capabilities of FusionFabric.cloud, our platform for open development, will help the bank to further drive innovation in the sector and keep pace with changing market conditions and evolving regulatory requirements.”
Finastra Services worked together with National Bank of Bahrain to upgrade Fusion Kondor in under nine months, using its best-practice Fusion Advance program.