The Saudi British Bank (SABB) has chosen Bolero International’s electronic trade document solutions for its corporate clients. According to Bolero, SABB is the first bank in the Kingdom of Saudi Arabia to let its clients initiate transactions electronically – and so “eradicate time-consuming inefficiencies associated with paper documents”. David Dew, managing director, SABB, says the […]
Saudi Arabia’s Islamic lender Amlak International has chosen Temenos’ T24 core banking system for a tech revamp. The implementation and delivery will be done by National Data Consultants (NDC), a Pakistan-based system integrator and Temenos partner in the Middle East and Asia. T24 will replace Silverlake Axis’ SIBS core banking system, which has been in […]
Across the world, branches are disappearing or even getting smaller, but Alawwal Bank, with the help of financial services IT consultancy Synechron, has opened a new digital branch in Saudi Arabia in the form of a coffee shop. The Ibda café is located in the Nakheel mall in Riyadh. The bank says customers can open […]
Albilad Capital, the investment arm of Saudi Arabia’s Bank Albilad, is implementing IMSplus Custody, a specialist solution supplied by Profile Software. IMSplus Custody will support Albilad’s newly launched custodian services department. Albilad Capital operates according to Islamic finance principles and provides financing from equity and debt capital markets for a variety of sectors, including oil […]
Saudi Arabian Monetary Agency (SAMA), Saudi Arabia’s central bank, is modernising its technology with a range of new solutions from SAP and Calypso. The bank is working SAP to automate the ERP and BI functionality (with SAP’s Business Objects), and is also interested in Bank Analyzer for financial reporting, indicates the vendor. SAP is now […]
Islamic finance specialist firm NCB Capital Company has installed a Charles River front and middle office investment management platform, as part of a drive to improve internal efficiencies in its Saudi business.
Saudi Arabia’s stock exchange the Tadawul has signed a deal with Nasdaq OMX to replace its trading engine with Nasadaq OMX’s X-Stream INET technology, beginning in January 2014.
The Bahrain Bourse is to replace its trading platform with a new one provided by Nasdaq OMX, as the Bourse aims to become a trading hub in the Persian Gulf region.
Saudi Arabia’s Riyad Bank has chosen technology company Calypso Technology to help revamp its treasury operations and improve its back office.
Bank AlJazira has commissioned infrastructure specialist Siemon to supply the IT infrastructure for new data centres across Saudi Arabia as part of its strategy for growth and to secure technical advantage. Siemon was selected as the supplier of choice in a competitive tender with two other industry-leading manufacturers. According to Ahmed Al Hassan, head of […]
