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Boubyan Bank launches online banking portal implemented by Al-Faris

Kuwait: Sunday, April 15 - 2007 @ 13:56

Al-Faris® has implemented the solution based on Financial Fusion for its ability to rapidly deliver comprehensive services and features across multiple customer segments and platforms.

Boubyan Bank is deploying Financial Fusion’s Consumer and Corporate Banking, the No. 1 ranked online banking solution. This application provides Boubyan Bank customers the ability to customize their online banking experience, manage accounts, and perform a variety of self-service functions. The solution in particular provides the ability to enquire on various types of accounts, credit cards and Murabaha deals in addition to transfer funds, pay bills, block cards, obtain balance and liability certificates, setup and receive alerts on critical transactions and account events. Moreover, the solution allows customers to initiate both domestic and international funds transfers in straight-thru-processing. Customers could also settle their credit card dues and make Murabaha payments. The Financial Fusion corporate and consumer banking can be tailored to support unique customers such as entrepreneurs and high net-worth individuals.

By implementing Financial Fusion, Boubyan Bank has joined an elite group of international banks who have opted to provide world class online service to their clients. The solution uses advanced authentication techniques such as strong passwords, electronic tokens and encrypted electronic certificates to successfully meet the heightened standards mandated by various regulatory agencies.

“We are committed for ways to bring better and easier services to our clients” Said Mr. Yousef J. Al-Obaid, General Manager of Boubyan Bank. “Financial Fusion’s solutions implemented by Al-Faris® provide complete reporting, money movement and self-service capabilities via the online channel making account services easier for our thousands of clients.” Mr. Al-Obaid continued.

“This new win of Boubyan Bank Online Banking Portal project further demonstrate our leadership in building successful e-business solutions for our clients,” Said Mr. Haitham S. Al-Faris, Chairman and CEO of Al-Faris. “The Financial Fusion e-Finance Suite offers Boubyan Bank a great opportunity for long term operation. Unlike the in-house build or locally developed solutions; which adapt the ‘black box’ approach tailor the implementation at lowered costs and carry long-term limitations.” Mr. Al-Faris continued.

Al-Faris® Help You Build a Successful Portal
This new significant for Al-Faris is the 4th major portal deal after Kuwait Stock Exchange, Central Bank of Kuwait, and Council of Ministers.

Al-Faris® is the Middle East’s leader in designing, building and operating full and complete portal solutions. We have achieved this position by winning significant deals to build portals for our clients who help them solve their business problems, develop their businesses, and meet their business objectives with a very economical and professional approach. We are one of the few companies in the Middle East who can do this.

Boubyan Bank is a Kuwaiti shareholding company established in 2004 for the purpose of exercising all activities of the banking business – retail and corporate. Boubyan Bank’s retail banking operations encompass a comprehensive range of products and services including:

Current Account in Kuwaiti Dinar and Foreign Currency; Salary Account in Kuwaiti Dinar; Investment Savings Accounts in Kuwaiti Dinar & Foreign Currency; Deposit Account in Kuwaiti Dinar and Foreign Currency; Credit Cards; Standing Instructions; ATM & POS Services; SMS Services; Tele Banking; Call Center Service.

Boubyan Corporate Finance Group provides an integral range of Shari’ah-compliant services for local small, medium- and large-sized corporate clients. Corporate Finance is comprised of an innovative team of creative professionals with a diversified range of expertise. This team is committed to ensure the service we provide is unique as our clients expect.

Boubyan’s Corporate Finance products and services include: Investment Finance; Real Estate Finance; Projects & Contracts Finance; Working Capital Finance; Trade Services: Import and Export letters of credit – Murabaha L/C – Documentary Collection – Letters of guarantee; Capital Leasing (Ijara); Foreign Exchange (Spot)

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Sunday, April 15- 2007 @ 13:56 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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