Ajman Bank, an Islamic bank based in the UAE, said it has signed an MoU with On-Corp-Inc to deploy key retail banking-focused business intelligence systems, data services and sales advisory services.

The UK-based On-Corp-Inc provides the retail banking market with consumer and revenue centric BI systems facilitating design and redesign of competitive retail banking products, for deeper penetration, aiding in selling and cross selling, to help manage market competition, trends and behaviours.

As per the deal, On-Corp-Inc will facilitate Ajman Bank with retail banking focused BI systems and services.  

The deal will help Ajman Bank strengthen its position to deliver cutting-edge retail services, further enhancing its service innovation, product design capability, and competitive strength.

"Our approach aims to keep Ajman Bank at the forefront of the Islamic retail banking industry, with a dynamic customer-centric approach meant to answer our growing customer base requirements, while providing pioneering products, ongoing rewards, and a gratifying banking experience," said Mohamed Amiri, the acting CEO of Ajman Bank.

"Our partnership with On-Corp-Inc is intended to support us make this happen. On-Corp-Inc is the only provider of systems that is backed by market-updated data" Amiri stated.

“On-Corp-Inc Ltd offers a complete proposition for retail banks, working along the life of the contract to achieve core defined results geared towards revenue maximization, enhanced market share, and a prolific sales culture,” he added.

“The contract is a breakthrough milestone for On-Corp-Inc and the first of its kind in the GCC region. We deliver the best services to set higher benchmarks for retail banking business practices for the region” said its chairman Donald Starkey.

On-Corp-Inc established its regional office for Mena in Dubai in February 2012 and has been engaged with dozens of banks in the region.

“We are progressing well ahead of our penetration plan for the region. On-Corp-Inc has set a strong foundation in securing similar deals in the near future. We are expanding our reach across the Mena region” said founder CEO Noshad Rehmani.

Salem Al Shamsi, the acting head of retail, Ajman Bank said, "The sophisticated and intelligent services that we look to receive through this partnership will help us better understand consumer behavior and needs, tailor relevant solutions and increase revenue levels.”-TradeArabia News Service