Accenture launches upgraded banking technology platform at NCB
Accenture (NYSE: ACN), the global professional services company, has successfully completed the core system replacement of the retail banking operations at the National Commercial Bank (NCB). The highly complex project which took approximately two years to complete, was part of NCB’s NextGen program, which was also undertaken with Accenture.
The implementation of the project marks significant successes and achievements across various fields within the business. The improved platform provides clients with a distinct banking experience, enriched with additional features and a 50 percent reduction in turnaround time for key processes.
The platform, which will be deployed across NCB’s network of 374 branches throughout the country, plays a pivotal role in the core banking system’s data-driven transformation. The Accenture team, which supported NCB from the outset, was responsible for strategic program management, core system transformation and change enable- ment. Commencing with a team of five, the project later expanded in scope to include 25 members from 18 countries at its peak.
NCB’s in-house team ensured that the implementation, training, and manoeuvring of the new systems were in line with their requirements. The key success factors included direct top management involvement, quick strategic deci- sion-making processes, setup of a dedicated transformation team, and a significant time commitment from the business and IT teams.
Firas Al-Turki, head of Shared Services Group at NCB, said: “Launching this project will further enhance the digital development of our financial and banking operations and help expand NCB’s base in Saudi Arabia to become the leading digital bank with outstanding customer service. It also reinforces the bank’s efforts to develop its digital infrastructure by providing the best banking standards that reflect positively on the customer’s experience.”
Omar Boulos, regional managing director of Accenture in the Middle East and North Africa, said: “Working closely with NCB, we were able to achieve several key milestones and replace the core banking system in a relatively quick timeframe. We are proud to see our efforts culminate in a grand-scale transformation and are pleased that NCB will capitalize on this success to speed up processes and increase efficiencies.”
Amr El Saadani, managing director and financial services lead at Accenture in the Middle East and North Africa, said: “We are delighted to see the results of our joint work and are keen to continue our partnership with NCB. This project will set a benchmark for similar programs in the region, and we look forward to wider collaborations of this nature across sectors.”