In line with the Bank’s strategy geared towards developing a robust digital ecosystem, the National Bank of Bahrain (NBB) entered into a partnership agreement with Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, to adopt the Finacle Cash Management Suite, which will allow the Bank to digitally transform its transaction banking business.
The adoption of the suite will allow the bank to offer a comprehensive range of services to corporate customers, while providing them with seamless access to a range of digital cash management services, such as self-service mode and the ability to streamline payments. This new development will also enable NBB to manage customer preferences and entitlements more effectively across channels.
Commenting on this agreement, Hisham Al Kurdi, Chief Executive – Corporate and Institutional Investment Banking at NBB said, “This partnership comes as part of NBB’s digital transformation, with the upgrades provided by the suite set to further enhance the seamless service already provided to the Bank’s client.”
“The front-to-back integrated cash management solution from Infosys Finacle will help deliver a world-class banking experience to our corporate and institutional customers, thereby driving the growth of our transaction banking business even further,” added Mr. Al-Kurdi.
From his side, Venkatramana Gosavi, Senior Vice President and Global Head of Sales, Infosys Finacle, said, “As banks across the world mature in their modernisation journeys, there is an increasing focus on the corporate banking side of the business. My congratulations to the NBB management as they continue to make diligent headway in their well-rounded digital transformation programme. We are happy to extend our relationship with NBB and be the bank’s preferred partner with the top rated Finacle Digital Cash Management suite and the Finacle Digital Engagement suite. The solutions have proven adaptability and platform agnostic capabilities, which is further evidenced by NBB’s careful evaluation and selection. We look forward to continue to partner and support NBB’s progression and growth.”
The new update will further streamline corporate customer payments, help manage liquidity and minimise financial risks. It will also further enable NBB to drive innovation by launching new products and services on digital channels.