Gulf Bank awarded ‘En­ter­prise Risk Tech­nol­ogy Im­ple­men­ta­tion in 2016’ ‘Best in Mid­dle East’ award for third time this year

Kuwait Times - - BUSINESS -

Gulf Bank is pleased to an­nounce that it has been awarded the ‘En­ter­prise Risk Tech­nol­ogy Im­ple­men­ta­tion of the Year in the Mid­dle East’ by The Asian Banker. This is Gulf Bank’s third recog­ni­tion for ex­cel­lence in the Mid­dle East re­gion in 2016, hav­ing pre­vi­ously won ‘Best Credit Card Prod­uct of the Year in the Mid­dle East’ and ‘Best In­ter­net and Mo­bile Se­cu­rity Tech­nol­ogy Im­ple­men­ta­tion of the Year in the Mid­dle East’ from The Asian Banker. Gulf Bank re­ceived the award at a cer­e­mony fol­low­ing the ‘Fu­ture of Fi­nance Mid­dle East and Africa Di­a­logue’ at the Ritz Carl­ton DIFC Ho­tel in Dubai. The Asian Banker is one of Asia’s lead­ing con­sult­ing com­pa­nies in fi­nan­cial ser­vices re­search, bench­mark­ing and in­tel­li­gence.

Com­ment­ing on this award Peter Roberts, Gen­eral Man­ager for In­for­ma­tion Tech­nol­ogy at Gulf Bank, said: “Gulf Bank is proud to be the re­cip­i­ent of this pres­ti­gious award rec­og­niz­ing the Bank’s ef­forts and con­tin­u­ous com­mit­ment to pro­vid­ing in­no­va­tive so­lu­tions to real cus­tomers’ prob­lems. We are proud that Gulf Bank was se­lected for this award from all the ap­pli­cants across the Mid­dle East and North Africa re­gion. We are also ex­tremely pleased that this is the third award the Bank has re­ceived for ex­cel­lence in the Mid­dle East re­gion in 2016.”

Roberts em­pha­sized the Bank’s abil­ity in de­liv­er­ing ro­bust projects and in­te­grat­ing its risk ca­pa­bil­i­ties by say­ing: “We cre­ated a Trans­ac­tional Bank­ing Plat­form which was ca­pa­ble of solv­ing real cus­tomer prob­lems for our cor­po­rate clients by au­tomat­ing the endto-end process of key cus­tomer trans­ac­tions, in­clud­ing com­plex largely man­ual risk man­age­ment com­po­nents of the process. The re­quire­ments of the project were taken di­rectly from feed­back from both our con­sumers and cor­po­rate cus­tomers and have led to sig­nif­i­cant im­prove­ments in cus­tomer ser­vice and a dra­matic re­duc­tion in op­er­a­tional risk.”

All banks and non-bank fi­nan­cial in­sti­tu­tions (in­clud­ing in­sur­ance com­pa­nies, brokerages, credit com­pa­nies and fi­nance com­pa­nies) with op­er­a­tions in Mid­dle East and Africa were el­i­gi­ble for sub­mis­sion. The en­trants for the En­ter­prise Risk Tech­nol­ogy Im­ple­men­ta­tion award were as­sessed based on de­tailed de­scrip­tions and doc­u­men­ta­tions of how the strength of the in­sti­tu­tion’s risk man­age­ment core com­pe­ten­cies was ap­plied.

Prior to its se­lec­tion, Gulf Bank was care­fully as­sessed by a panel of in­dus­try ex­perts and judges across a strin­gent set of cri­te­ria to de­ter­mine the Bank’s over­all per­for­mance and ser­vices com­pared to other lo­cal bank­ing com­peti­tors. The se­lec­tion process be­gan in Au­gust and fin­ished in Oc­to­ber, and in­volved a team of re­searchers work­ing in tan­dem. The ini­tial se­lec­tion is through a sur­vey and desk re­search done by the re­search team at the Asian Banker. The iden­ti­fied can­di­dates are then sub­ject to fur­ther scru­tiny though in­ter­views and their names are put into a poll that is dis­trib­uted to The Asian Banker’s 38,000 read­ers. Af­ter the re­sults of the poll and the re­search have been com­piled, a short-list of can­di­dates is then sub­mit­ted for re­view by the in­ter­na­tional board of ad­vi­sors for a fi­nal eval­u­a­tion and rec­om­men­da­tion to de­ter­mine which can­di­date should re­ceive the award. The ex­em­plary im­ple­men­ta­tions are sub­se­quently doc­u­mented and pub­lished as re­search noted in the Risk and Reg­u­la­tion Work­ing Group, the Asian Banker’s repos­i­tory of best prac­tices in the in­dus­try.

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