Bangalore, May 29 : Al Hilal Bank, six-year-old new generation bank in the United Arab Emirates (UAE), has deployed the award-winning Finacle e-banking solution of Indian IT bellwether Infosys to provide Internet banking services to its corporate customers.
"Our Finacle solution will allow the bank to roll out new functionalities and build upon existing products to offer an enhanced banking experience in an intelligent and seamless manner without compromising security," the global software major said in a statement here Thursday.
Set up in June 2008 with an authorised capital of Arab Emirati Dirham 4 billion ($1.1 billion), the UAE bank is owned by the Abu Dhabi Investment Council, the investment arm of the government.
"The software solution empowers users toAexercise real-time control over finances across channels and banking accounts. It will also enable the bank to offer anywhere banking to corporate customers online," Infosys vice-president Venkatramana Gosavi said in the statement.
The solution also supports some of the key corporate banking activities, including account services, transfers, bulk payments, and file upload for transactions, beneficiary management, and advanced reporting.
"The solution reduces service delivery costs through the automation of functions such as online service requests, payments and salary processing. It has enhanced security such as two-factor authentication, transaction signing and one-time passwords," Gosavi pointed out.
Another benefit of the solution is the provision of real-time information and alerts covering account details as well as financial news, market updates, exchange rates, and stock quotes.
"Adoption of the best banking technologies is a priority for us, in keeping with our spirit as a progressive Islamic bank.AThe Finacle e-banking platform enables us to provide a customised, multi-channel experience for our corporate customers," Al Hilal Bank group chief executive Mohammed Jamil Berro said on the occasion.
The young bank is Shariah compliant and operates through a network of 22 branches across the UAE with three branches in major cities of Kazakhstan.
"Corporate banking customers demand real-time, holistic views of their balances across the group so that their liquidity positions can be identified and optimised.A By leveraging our Finacle platform, the bank has improved how it interacts, serves and markets to its corporate customers," Gosavi added.
The bank aims to become a leading financial institution in the region and increase the growth of Islamic banking by providing new direction, new technologies and special services.
