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AAIB deploys banking solution

The 40-year old Arab African International Bank (AAIB) has implemented Oracle's Financial Services Applications (OFSA) to enhance its reporting and decision-making capabilities across its branches.

The 40-year old Arab African International Bank (AAIB) has implemented a number of Oracle Financial Services Applications (OFSA) to enhance its reporting and decision-making capabilities across its branches.

Faced with impending Basel II requirements, the bank is consolidating functions including transfer pricing, performance analysis, cash forecasting, and risk management through the Oracle deployment.

Most financial entities and banks have to satisfy the regulatory requirements of the Basel II accord, manage risk, and forecast financials more effectively to ensure compliance. AAIB has also created an Oracle-based data warehouse which is powered by a data analysis tool called Oracle Discoverer, to better understand customer-banking trends and tailor its offerings based on client requirements.

The AAIB implementation was managed by Oracle Egypt's consulting operations.The solution also used the vendor’s customer relationship management (CRM) modules and internet developer suite to develop specific applications in-house. AAIB joins other regional banks including Bank Muscat, Banque Misr, the Central Bank of Egypt, Al Rajhi Bank and National Bank of Dubai, which have deployed similar banking solutions.

“In view of the shifting regulatory requirements and the competitive nature of the Middle East's financial services, banks here can't derive enough value from standard business applications - we need solutions with inherent industry intelligence to help manage risk and profitability while enabling us to look after customers properly,” says Hassan Abdalla, vice chairman and managing director, AAIB.

From an internal perspective, elements of OFSA such as Oracle Performance Analyser enable AAIB to calculate profitability information by account, customer, customer segments, products and its organisational units to provide better insight into its operations. AAIB is also deploying Oracle Risk Manager to measure and manage risk exposures for regulatory compliance in a changing international and regional legal landscape.

“Our decision to procure Oracle's banking software included the complete nature of the suite, as well as its compliance with regulations such as Basel II,” adds Abdalla.

Externally, elements of the Oracle E-Business Suite such as Telesales and Scripting allow AAIB to streamline its customer contact channels, and align outbound and inbound service with the vast stores of data it maintains on each account holder.

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