CBI goes live with Silverlake Core Banking Solution

3/11/2008

Solution to streamline CBI’s conventional and online portfolio of services into one consolidated system

Commercial Bank International (CBI), one of UAE’s leading financial institutions, today announced the launching of its turnkey project Silverlake Core Banking Solution software to enhance both its conventional and online banking systems.

The first phase of the software implementation went live on January 4, 2008 and covers CBI’s conventional banking, internet banking, treasury, trade finance and credit card services as well as provides integration with third party ATMs and POS. The second phase of the implementation features additional service options, more delivery channels and is scheduled to roll-over during the course of 2008.

CBI is the first bank to implement the Silverlake core Banking System, making it the largest-ever system upgrade undertaken by any banking institution in the country. The new System will seamlessly integrates various aspects of the bank’s divisions and systems through a single interface which includes Core Banking, Internet Banking, Trade Finance, Treasury, Card Management, CRM, Data Warehouse & MIS, Islamic Banking, Collection and Anti-money Laundering models.

“The new system was implemented inline with our vision and strategy for growth, market coverage and operational excellence. Our primary objective is to reinforce our commitment to providing ‘Relationships Beyond Banking’ and above all, in keeping with our strategy of being a completely customer-centric service provider. The corporate values of the CBI – quality and customer satisfaction – are reflected in this latest development in CBI’s history,” said Abdulla Rashed Al Omran, Managing Director of CBI

"CBI is Silverlake's second customer in the region to go live with the Silverlake Core Banking Solution. The hard work, dedication and exceptional teamwork shown by both teams resulted in a mutually rewarding and very successful project," said Goh Peng Ooi, Chairman, Silverlake Group of Companies.

With the new software, CBI will achieve increased efficiency in its multi-channel banking operations, integrated customer service offerings, risk management and compliance measures. The banking solution offers a single client view across the enterprise and enables customer-centric banking operations for true relationship banking.