Vision Bank launches pilot following selection of Finastra’s Kondor tech
Vision Bank, a Sharia-compliant digital bank based in Saudi Arabia, has launched the pilot phase of its banking operations following a partnership with UK-based software provider Finastra.
The bank has selected Finastra’s Kondor cloud solution to strengthen its treasury trading and risk management operations, with managed services provided by DXC Technology.
Vision Bank partners with Finastra and DXC Technology
According to the vendor, its solution has allowed Vision Bank to enhance its capabilities for asset and liability management, capital adequacy, reserve management, foreign exchange, trading and investment, and liquidity management.
Kondor is a widely adopted treasury trading system used by a variety of banks and financial institutions, including The Co-operative Bank, Banque Saudi Fransi, and Lien Viet Post Joint Stock Commercial Bank.
Abdul Shakeel Aidaroos, CEO of Vision Bank, says the partnerships with Finastra and DXC “ensure that we can comply with current and upcoming regulations, drive business continuity and maximum availability, and scale the rollout of new products as needed”.
Last year, Finastra teamed up with US fintech OpenFin to improve the user experience of Kondor, as part of an initiative to leverage microservices and embedded AI to deliver “intuitive and persona-based experiences”, through Treasury-as-a-Service (TaaS) and cloud capabilities, as stated by the company at the time.
