#None #Azentio #Boubyan Bank #Islamic banking

Azentio Transforms Boubyan Bank's Operations with iMAL Upgrade

Azentio, a prominent technology provider in the banking, financial services, and insurance (BFSI) sector, is excited to reveal the latest upgrade to its iMAL core banking system implemented at Boubyan Bank. This strategic enhancement is part of the bank's ongoing digital transformation journey, aimed at elevating customer satisfaction while improving operational efficiency.

The Significance of the Upgrade

Boubyan Bank, recognized as one of the premier Islamic banks in Kuwait and the Gulf Cooperation Council (GCC) region, has witnessed remarkable progress following the upgrade of the iMAL system. The implementation of this updated platform aligns with the bank's commitment to innovating customer-centric services, enabling quicker response times and a host of operational improvements. Among these enhancements, the system has achieved an impressive 42% improvement in response time.

The iMAL platform, known for being AAOIFI-certified, is designed to provide comprehensive Islamic banking solutions, catering to retail, corporate, and investment banking needs. This technology not only ensures compliance with Sharia principles, but also fosters ethical and inclusive financial services that can scale with evolving market demands.

Key Performance Metrics Achieved

The upgrade has enabled Boubyan Bank to tackle various operational challenges effectively. Some noteworthy improvements include:

• - A 52.5% reduction in salary posting time, greatly enhancing payroll efficiency.
• - A 15% increase in CPU efficiency, which streamlines processing capabilities.
• - An over 80% decrease in database blocking and session times, leading to smoother operational flow.
• - A 42% improvement in response time, allowing for more prompt customer service.

These enhancements have not only contributed to system performance but have also empowered Boubyan Bank to better fulfill its mission of delivering exceptional Islamic banking services.

Voices from Leadership

Aarthi Ramesh, the Chief Customer Officer at Azentio, remarked, "Our enduring partnership with Boubyan Bank exemplifies a shared vision for innovative, Sharia-compliant banking solutions. The recent upgrades to the iMAL system reflect our persistent commitment to developing tailored solutions that adapt to changing customer needs, ensuring excellence in service delivery."

Also commenting on the upgrade, Abdulla AlKhuzam, Chief Information Officer of Boubyan Bank, shared, "The 42% improvement in response time has revolutionized our operations. With significant efficiency gains achieved, our customers will directly benefit from reduced salary posting times and enhanced system performance. These advancements strongly reinforce our commitment to providing exemplary Islamic banking services."

About Boubyan Bank

Established as a leading Islamic financial institution, Boubyan Bank emphasizes customer satisfaction while upholding a standard of excellence in service. The bank's service offerings range from Sharia-compliant retail services to corporate banking and wealth management. Additionally, Boubyan has a diverse portfolio with four subsidiaries that engage in banking, investment, asset management, and takaful insurance, alongside its international presence in the UK through its subsidiary, the Bank of London and the Middle East.

About Azentio

Azentio is dedicated to deploying innovative technology solutions tailored for the BFSI and ERP sectors. Combining cutting-edge advancements with industry insight, Azentio aims to facilitate business growth and operational efficiency. With a robust presence in the Middle East, Africa, and Southeast Asia, Azentio strives to deliver top-tier technology to support businesses in achieving sustained success. For additional information, please visit www.azentio.com.