Commercial Bank of Dubai and ITS sign core system deal

The Commercial Bank of Dubai has signed a contract for the provision of a state of the art core banking system with International Turnkey Systems, to improve the efficiency at the bank

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By  Guy Mathew Published  September 30, 2001

CBD-ITS (London Bridge)

Today saw the signing of an agreement between the Commercial Bank of Dubai and International Turnkey Sytems to provide a core banking system. The system, known as Phoenix, is the product of London Bridge software which has many years of experince in banking software and will run on an HP platform.

The aim of the implementation is to improve the bank’s competitive position by making it’s operations customer-centric. By that it means to allow different parts of the bank to deal with the customer as one person rather than a set of separate accounts. This should allow more efficiency in banking operations leading to better customer satisfaction.

Yacoub Y Hassan, general manager, business group, of the Commercial Bank of Dubai, said: “The Phoenix system gives us world-class financial services technology that will help us deliver better services to our business and private customers throughout our branches across the UAE and enhance the competitive position of the bank.”

Khalid Al Saied, general manager of ITS, said: “We are proud to have been awarded the contract by the Commercial Bank of Dubai. We are confident that the Phoenix system will bring real benefits to the bank and its customers in the years ahead.”
ITS has been a partner of the Commercial Bnak of Dubai for eight years and has sold the Phoenix system to eight other banks in the Middle East, making it the best-selling banking solution in the region.

The planning began five months ago but the system will not be fully operational for another twelve months. However, Al Saeid intends to reduce that time. The contract also involves support services from ITS. “We will provide hardware and software support 24/7 from our Dubai office,” he said.

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