\n
With Finastra Kondor and managed services provided by DXC, the bank has enhanced its treasury trading and risk management capabilities, while offering modern, Sharia-compliant services<\/p>\n
\n
\u00a0Finastra today announced that the successful implementation of Finastra Kondor and cloud-based managed services provided by DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, enabled Vision Bank, a Sharia-compliant, digital bank in Saudi Arabia, to launch the pilot phase of its banking operations. Finastra\u2019s best-of-breed treasury trading system allowed the bank to upgrade its capabilities for asset and liability management, liquidity management, trading and investment, foreign exchange, capital adequacy and reserve management. The deployment of the solution on cloud also aligns with the digital bank\u2019s broader strategy of creating better user experiences while keeping pace with new demands.<\/p>\n
\n
\u201cOur mission is to be a pioneer in the Saudi banking sector, relying on innovation and technology to provide seamless, Sharia-compliant banking solutions that meet our customers\u2019 needs,\u201d said Abdul Shakeel Aidaroos, CEO at Vision Bank. \u201cTo help us achieve this, we needed a robust treasury management system with cloud-based managed services that enable us to grow while mitigating risks. Finastra and DXC ensure that we can comply with current and upcoming regulations, drive business continuity and maximum availability, and scale the rollout of new products as needed. We are also contributing to the goals of the Financial Sector Development Program, one of the programs of Saudi Vision 2030.\u201d<\/p>\n
\n
Finastra Kondor is a best-of-breed treasury trading system that meets financial institutions’ needs for sophisticated treasury functionality, while enabling growth and ensuring compliance. Renowned for its robust capabilities in supporting complex trading, risk management and operations, the solution is the backbone of numerous financial institutions, enabling them to navigate the intricate landscape of global markets with precision and agility. The successful implementation of the solution, alongside managed services provided by DXC, played a vital role in Vision Bank, formerly known as the Saudi Digital Bank, recently obtaining no objection from the Saudi Central Bank and launching the pilot phase of its banking operations.<\/p>\n
\n
\u201cVision Bank\u2019s growth ambitions and customer-centric ethos align closely to the values we hold at Finastra,\u201d said Wissam Khoury, EVP, Treasury & Capital Markets at Finastra. \u201cThe implementation of Kondor played a significant role in the bank\u2019s launch and digital transformation journey, providing the necessary agility to evolve with new demands and take advantage of the opportunities presented by Saudi Arabia\u2019s financial services sector. Working alongside DXC, it has been a pleasure to help Vision Bank reach this milestone and we look forward to its ongoing success.\u201d<\/p>\n
\n
\u201cDXC is proud to have partnered with Finastra and Vision Bank to successfully deliver Kondor as the bank’s fully hosted and managed treasury system,\u201d said Anthony Hammond, Global Finastra Lead at DXC. \u201cThis collaboration underscores our commitment to driving innovation in financial technology, providing a secure, scalable and future-ready solution that enhances the bank\u2019s treasury operations.\u201d<\/p>\n
\n
\n
For further information please contact:<\/p>\n
\n
Sofia Romano<\/p>\n
Head of PR, EMEA<\/p>\n
T: 07552865009<\/p>\n
E: sofia.romano@finastra.com<\/p>\n
Finastra.com<\/p>\n
\n
About Finastra<\/p>\n
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world\u2019s top 50 banks. For more information, visit finastra.com<\/p>\n
\n
About Vision Bank<\/p>\n
Vision Bank is a Saudi digital bank regulated by the Saudi Central Bank (SAMA). Vision Bank is reimagining banking in Saudi Arabia through an experience that is catered to our customers dynamic lifestyles. This creates a place where customers can embrace simplicity, personalization, convenience and absolute control over their financial lives. Recognizing the importance of technology in shaping the future of finance, Vision Bank aims to partner with leading fintech and technology providers to develop bespoke technologies that would differentiate them in the market and meet the ever-evolving needs of our customers.<\/p>\n
\n
About DXC<\/p>\n
DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world’s largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.<\/p>\n
\n","protected":false},"excerpt":{"rendered":"
With Finastra Kondor and managed services provided by DXC, the bank has enhanced its treasury trading and risk management capabilities, while offering modern, Sharia-compliant services \u00a0Finastra today announced that the successful implementation of Finastra Kondor and cloud-based managed services provided by DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, enabled Vision …<\/p>\n","protected":false},"author":2,"featured_media":111282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-111284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"\n