Bahrain bank signs up Infosys for digital transformation

Bahrain bank signs up Infosys for digital transformation
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4 Aug, 2020

National Bank of Bahrain (NBB) has signed up information technology (IT) services firm Infosys for the digital transformation of its transaction banking business.

Infosys said that NBB will use its banking software Finacle's cash management suite.

Manama, Bahrain headquartered NBB is one of the largest providers of retail and commercial banking services in the country. It will implement Finacle's liquidity management platform apart from upgrading its existing corporate online banking platform to a full-fledged digital engagement suite, according to a statement.

Finacle is a digital core banking software product of Infosys under its subsidiary EdgeVerve Systems. As part of the partnership, NBB will also deploy the latest versions of Finacle's corporate online and mobile banking solutions, along with the Finacle digital engagement hub, Infosys said.

India’s second-largest software exporter said that the platform will provide a fully integrated, front-to-back office global liquidity management system that enables the bank to offer a comprehensive range of services to corporate customers and help them identify, manage and optimise liquidity positions.

“This will equip NBB with a modern system capable of delivering simple and seamless service. The front-to-back integrated cash management solution from Infosys Finacle will enable us to deliver better experience to our corporate and institutional customers, thereby driving the growth of our transaction banking business,” Hisham Al Kurdi, CEO of corporate and institutional investment banking at NBB said. 

According to Bengaluru headquartered Infosys, the Finacle digital engagement suite will enable NBB manage their customer preferences and entitlements effectively across channels helping them to deliver fully contextual and tailored digital banking experiences for its diverse set of customers.

Last week, New York-based energy and utility company Consolidated Edison Company (Con Edison) had chosen Infosys to aid with the digital transformation of its customer service capabilities. 

Last month, Infosys posted better-than-expected first quarter earnings. It forecast revenue growth in the 0% and 2% range for the full financial year 2021.

In one of the biggest deals this year, Infosys signed a digital transformation deal with Vanguard in July.