Al Ahli Bank of Kuwait Selects Infosys Finacle to Power its Technology Transformation

Author(s): 

Bangalore, March 2, 2016: Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that Al Ahli Bank of Kuwait (ABK), a leading retail bank in Kuwait, has selected Finacle to drive its technology transformation. The bank will deploy the complete suite of Finacle solutions including Core Banking, Trade Finance, Wealth Management, CRM, e-banking, Payments, Treasury, Alerts, SMS Banking, Liquidity Management, Retail, and Corporate Loan Origination. With Infosys Finacle, ABK will be able to achieve high operational efficiencies, accelerate growth and manage scale-ups easily, while delivering a digital age banking experience to its customers.

Highlights:
• With Finacle, ABK will move from a collection of product processors to an integrated system, which will provide a robust customer service and reporting platform
• Finacle solutions are offered as a well-integrated suite, with enterprise capability architecture that will enable the bank to provide 24/7 services
• The agile technology platform will allow the bank to integrate other existing and planned systems easily, across geographies
• With the in-built product factory capability from Finacle, ABK will be able to create and launch products easily, with swift go-to-market
• The bank’s customers will benefit from customized offerings and a world-class banking experience across any channel
Quotes:
Michael Reh, Executive Vice President and CEO (designate), EdgeVerve:
“In a world that is being irrevocably digitized, banks will need to fundamentally transform themselves to adopt a technology-led, client-centric model. With this transformation program, ABK joins a select group of banks in the Middle East, enabled with a proven, industry-leading technology platform to deliver superior value to its customers and drive innovation. Building on our partnership with ABK, Finacle is well poised to extend similar partnerships with banks across Kuwait and the Middle East to help them achieve a digital transformation for accelerating growth and profitability.”

Abdulla Alsumait, Deputy Chief General Manager, ABK:
“At ABK, we are committed to creating a ‘simpler’ banking model for our customers; one that specifically offers convenience, security and speed. This comes as part of our ‘Simple Banking’ strategy, and we are excited to partner with Infosys, who are one of the leaders in core banking systems, globally. We look forward to this partnership and working together to achieve our goal of transforming the technology landscape in ABK and to enhance our service offerings to our customers, in every way.”

Date: 
Wednesday, March 2, 2016