(Vocus) April 23, 2010
Noor Islamic Bank PJSC (NIB), a leading Islamic bank in the United Arab Emirates, has deployed SunGard’s Ambit Reconciliation & Exception Management solution to support its volume growth.
Ambit Reconciliation and Exception Management will help Noor Islamic Bank to meet its growing volume requirements by automating the matching and reconciliation process across its cash nostro and cards business. It will also help the bank’s financial decision-making capabilities by providing accurate reconciled data for cash flow products across its operations. The added transparency into its operations and improved process efficiency, as well as the scalability of the Ambit solution, will help Noor Islamic Bank to increase its competitive advantage in the region.
Jan Kirchhoff, chief information officer of Noor Islamic Bank, commented, “Our previous reconciliation system placed limitations on our ability to grow. SunGard is a recognized leader in reconciliation solutions, and with Ambit Reconciliation & Exception Management solution we are now able to reconcile data accurately and efficiently and keep up with our growing volumes. Noor Islamic Bank sees SunGard Ambit as a partner, rather than a vendor, that will help us to maintain our competitive edge.”
Dave Barrett, chief operating officer of SunGard’s Ambit Corporate Banking business unit, said, “Efficient reconciliation and exception management is becoming increasingly important as banks look to expand their operations. The biggest challenge is not market opportunity but rather their existing technology systems placing limitations on their ability to expand. Banks like Noor Islamic Bank can rely on SunGard’s Ambit to help improve their ability to serve customers, support growing volumes and increase efficiencies and transparency in operations. ”
About Noor Islamic Bank
Established in 2007 in Dubai, a full service bank, Noor Islamic Bank delivers the broadest range of products for its customers, with an emphasis on unique and personalized services. Noor Islamic Bank’s products and services are governed by a Shari’a Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Islamic Bank has locations across the UAE in the Emirates of Abu Dhabi, Dubai, Sharjah, and an overseas representative office in Tunis. For further details, please visit: http://www.noorbank.com or call 800NOOR(6667).
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks improve customer service management, streamline business processes, comply with regulations and capture growth opportunities. For more information, visit http://www.sungard.com/ambit.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.