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Saudi British Bank selects Bolero electronic trade document solutions

Saudi British Bank

The Saudi British Bank (SABB) has chosen Bolero International’s electronic trade document solutions for its corporate clients. According to Bolero, SABB is the first bank in the Kingdom of Saudi Arabia to let its clients initiate transactions electronically – and so “eradicate time-consuming inefficiencies associated with paper documents”. David Dew, managing director, SABB, says the […]

Amlak in core banking software overhaul with Temenos and NDC

Temenos gains new live site in Palestine

Saudi Arabia’s Islamic lender Amlak International has chosen Temenos’ T24 core banking system for a tech revamp. The implementation and delivery will be done by National Data Consultants (NDC), a Pakistan-based system integrator and Temenos partner in the Middle East and Asia. T24 will replace Silverlake Axis’ SIBS core banking system, which has been in […]

Alawwal Bank’s next stop is a coffee shop

Alawwal Bank 1

Across the world, branches are disappearing or even getting smaller, but Alawwal Bank, with the help of financial services IT consultancy Synechron, has opened a new digital branch in Saudi Arabia in the form of a coffee shop. The Ibda café is located in the Nakheel mall in Riyadh. The bank says customers can open […]

Albilad selects Profile Software’s IMSplus for new custody ops

Profile Software gains new IMSplus taker in Saudi Arabia – Albilad Capital

Albilad Capital, the investment arm of Saudi Arabia’s Bank Albilad, is implementing IMSplus Custody, a specialist solution supplied by Profile Software. IMSplus Custody will support Albilad’s newly launched custodian services department. Albilad Capital operates according to Islamic finance principles and provides financing from equity and debt capital markets for a variety of sectors, including oil […]

Saudi Arabia’s central bank, SAMA, in major tech overhaul

SAMA head office

Saudi Arabian Monetary Agency (SAMA), Saudi Arabia’s central bank, is modernising its technology with a range of new solutions from SAP and Calypso. The bank is working SAP to automate the ERP and BI functionality (with SAP’s Business Objects), and is also interested in Bank Analyzer for financial reporting, indicates the vendor. SAP is now […]

Saudi Arabia’s NCB revamps tech platform Islamic finance

NCB is using the Charles River tech to target Islamic finance customers in Riyad and Jeddah

Islamic finance specialist firm NCB Capital Company has installed a Charles River front and middle office investment management platform, as part of a drive to improve internal efficiencies in its Saudi business.

Saudi exchange opts for Nasdaq OMX trading engine

Saudi Arabia's Tadawul will install Nasdaq OMX's INET trading engine

Saudi Arabia’s stock exchange the Tadawul has signed a deal with Nasdaq OMX to replace its trading engine with Nasadaq OMX’s X-Stream INET technology, beginning in January 2014.

Bahrain Bourse to install Nasdaq OMX trading engine

Bahrain Bourse will install the new Nasdaq OMX engine at Manama's Financial Harbour

The Bahrain Bourse is to replace its trading platform with a new one provided by Nasdaq OMX, as the Bourse aims to become a trading hub in the Persian Gulf region.

Saudi Riyad Bank rebuilds treasury tech with Calypso

Riyad Bank will use Calypso technology to improve its STP rates

Saudi Arabia’s Riyad Bank has chosen technology company Calypso Technology to help revamp its treasury operations and improve its back office.

Bank AlJazira upgrades Saudi data centres with Siemon

Bank AlJazira has commissioned infrastructure specialist Siemon to supply the IT infrastructure for new data centres across Saudi Arabia as part of its strategy for growth and to secure technical advantage. Siemon was selected as the supplier of choice in a competitive tender with two other industry-leading manufacturers. According to Ahmed Al Hassan, head of […]