Bank Albilad implements FIS payment hub
Dubai, April 3, 2014
FIS, a leading provider of banking and payments technology, said Saudi Arabia’s Bank Albilad has deployed its payments hub to support the bank’s rapid expansion and diversification of customer services.
Bank Albilad, which was launched in 2004, provides a wide range of financial services in the kingdom across retail, commercial and investment banking.
Its retail division has grown to more than 80 branches in Saudi Arabia in the last eight years.
The bank is now integrating FIS’ card management system with its internet banking and call centre operations. FIS will deploy the system to manage the bank’s debit and prepaid cards through their whole lifecycle - from issue and activation through to tracking and expiration - from a single platform.
FIS said its switching platform will provide a highly scalable transaction switch to handle ATM requests across the bank’s entire national network.
FIS’ solutions will enable the bank to consolidate its payments infrastructure, giving it greater operational flexibility to extend its service channels and product offerings, it stated.
This includes the implementation of dedicated banking service centres, which are being rolled out over the next three years as part of the bank’s most significant expansion programme since its creation.
Bank Albilad will use the integrated FIS platform to process over eight million ATM transactions per month and manage a portfolio of four million debit and prepaid cards.
Ian Benn, COO, FIS EMEA, said: “Like many of our customers in the Middle East, Bank Albilad is rapidly growing and diversifying its business and we are delighted to be supporting this process. Consolidating the bank’s payments platform is an operational game-changer for the bank which provides a springboard for its future growth strategy.”
Rashid Al Othman, CIO, Bank Albilad, said: “This project has rewarded us with a significantly streamlined payments operations, and it will play a major role in enabling us to achieve our growth and operational objectives in the next few years.
“We chose FIS not only because of their flexibility and technical capabilities but also because of their ability to execute quickly and their track record of successful payment deployments.”
Meanwhile, FIS has opened a new office in the region. Located in Dubai, the office will be staffed with payments and banking experts dedicated to supporting the company’s growth in the region.
“Our expertise, credibility and track record in the payments market is really striking a chord in high-growth regions like the Middle East, and with our new office in Dubai, we are now really well positioned to extend our presence in this region,” added Benn. - TradeArabia News Service
