Saudi Arabia's Bank Albilad implements FIS Switch to move to payments hub
02 April 2014 | 1174 views | 0
FIS™ (FIS), the world's largest provider of banking and payments technology, today announced that Bank Albilad, of the Kingdom of Saudi Arabia, has deployed FIS' payments hub to support the bank's rapid expansion and diversification of customer services.
Bank Albilad, which launched in 2004, provides a wide range of financial services in Saudi Arabia, across retail, commercial and investment banking. Its retail division has grown to more than 80 branches in the Kingdom in the last eight years, making it one of the region's fastest-growing banks.
Bank Albilad is integrating FIS' card management system, with its internet banking and call center operations. FIS will deploy the system to manage the bank's debit and prepaid cards through their whole lifecycle - from issue and activation to tracking and expiration - from a single platform. Meanwhile, FIS' switching platform will provide a highly scalable transaction switch to handle ATM requests across the bank's entire national network.
FIS' solutions are enabling the bank to consolidate its payments infrastructure, giving it greater operational flexibility to extend its service channels and product offerings. This includes the implementation of dedicated banking service centers, which are being rolled out over the next three years as part of the bank's most significant expansion programme since its creation. Bank Albilad will use the integrated FIS platform to process over eight million ATM transactions per month and manage a portfolio of four million debit and prepaid cards.
"Like many of our customers in the Middle East, Bank Albilad is rapidly growing and diversifying its business and we are delighted to be supporting this process. Consolidating the bank's payments platform is an operational game-changer for the bank which provides a springboard for its future growth strategy," said Ian Benn, COO, FIS EMEA.
"This project has rewarded us with significantly streamlined payments operations, and it will play a major role in enabling us to achieve our growth and operational objectives in the next few years," said Rashid Al Othman, CIO, Bank Albilad. "We chose FIS not only because of their flexibility and technical capabilities but also because of their ability to execute quickly and their track record of successful payment deployments."
FIS' card processing services are built on a modern, open architecture to ensure long-term scalability, availability and performance. Using these solutions, FIS supports some of the biggest and most progressive banks throughout Europe and the Middle East, and processes more than 100 million cards globally.
At the same time, FIS announced the opening of a new office in the region. Located in Dubai, UAE, the office will be staffed with payments and banking experts dedicated to supporting the company's growth in the region.
Mr Benn added: "Our expertise, credibility and track record in the payments market is really striking a chord in high-growth regions like the Middle East and, with our new office in Dubai, we are now really well positioned to extend our presence in this region."