ADCB overhauls core banking system

Abu Dhabi Commercial Bank is set to overhaul its core banking system with the implementation of i-flex solutions' Flexcube. Scheduled to go live in 4Q04, the solution facilitate the delivery of new products.

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By  Matthew Southwell Published  December 20, 2003

Abu Dhabi Commercial Bank (ADCB) is set to overhaul its core banking system with the implementation of i-flex solutions' Flexcube solution. Scheduled to go live in 4Q04, the solution covers a number of corporate and retail banking activities and multiple delivery channels, including internet banking and ATMs. When operational, the solution will facilitate the development of new products and services for ADCB customers.

"ADCB is expanding rapidly with the introduction of improved customer service, new products and upgraded facilities. To support this growth and retain the competitive edge... we need a state-of-the-art core banking system that not only delivers on our requirements today, but will support us in the future. This is why we have chosen Flexcube," says Eirvin Knox, CEO of ADCB.

The implementation of Flexcube will also provide for a standard model of operation and documentation across the bank's entire network, which will allow ADCB to better assess risk and price its products accordingly. Furthermore, the core banking system will improve the finance house's internal efficiencies by centralising its back office operations.

"With the introduction of this new technology we will be able to improve the efficiency of our operations," says Knox. "This will allow us to channel more investment into our offerings and help us excel in an increasingly competitive marketplace," he explains.

The core banking app is being implemented by Cedar Consulting in conjunction with ADCB's inhouse technology team. The US-based consultancy also helped the Abu Dhabi bank identify, evaluate and eventually select the Flexcube solution.

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