Kuwait Finance House streamlines HR
The Kuwait Finance House has completed the deployment Oracle HRMS and payroll modules of the vendor's E-Business Suite. Considered one of the world’s largest Islamic financial services groups the 27-year old bank will use the suite to automate the entire recruit-to-retire process of its 1600 employees.
Oracle Corporation has announced that the Kuwait Finance House has completed the deployment Oracle Human Resources Management Systems (HRMS) and payroll modules of the Oracle E-Business Suite.
Considered one of the world’s largest Islamic financial services groups, with operations in over 10 countries and total assets of over US$10 billion, the 27-year old bank will use the suite to automate the entire recruit-to-retire process of its 1600 plus employees.
The E-Business Suite modules included in the project are Oracle HRMS, Payroll, Oracle Training Administration, Oracle Self Service and Oracle Business Intelligence.
The broad implementation, which was undertaken by Oracle’s partner AppsLink automates all aspects of routine human resources management and allows Kuwait Finance House to devote more time and investment to its customers and business development opportunities while enabling its employees to update and manage their own records in self-service resulting in more accurate and up to date.
“We are one of the largest and more geographically widespread Islamic financial institutions. Automating our HR processes provides a single perspective on all our staffing resources across the board and allows us to shift focus from administration to strategic planning. In a very competitive field, and we are striving to offer our clients the best services possible, therefore, we have to take advantage of the latest available solutions and technology to achieve our goal,” says Jassar Al-Jassar, general manager, Kuwait, Finance House.
The financial services company opted in for Oracle 11.5 after thorough study of all the available options. Using the HRMS tools to find, extract and analyse data related to human capital through the Oracle HR intelligence, KFH can now rapidly deploy the best resources for increasing employee productivity, satisfaction and retention.
The Oracle E-Business Suite’s HRMS applications also provide a unified data model for a single, accurate view of human resources-related activities, including learning, compensation, and real time analytics.
The Government of Kuwait owns 49% of the equity, and the general public holds the remaining shares. In addition to Islamic banking services, the Kuwait firm’s other activities include consumer banking, real estate financing, lease financing, trade finance and portfolio investing, all of which are conducted in compliance with Islamic Shari’a. KFH reportedly holds an estimated 20% of the total deposit base of the country.