“Financial Fusion's e-Finance suite incorporates advanced security features and our customers can rest assured that their internet banking transactions will be safe and completely secure.”
Head of Information Technology Group
Boubyan Bank, one of the newest banks in Kuwait, wanted to develop an Internet banking service that would offer their customers easy access and convenience to bank anytime and from anywhere. They were looking for a solution that would be flexible, scalable, robust and built on an open platform with a host of functionalities for both retail and corporate customers. Boubyan Bank chose Sybase Financial Fusion’s e-Finance suite which provides customers enhanced banking convenience, easy access, a host of functionalities and dynamic personalized content, while providing the bank with flexibility and scalability to enhance its online banking systems and meet the bank’s vision and strategies for growth.
- With Sybase Financial Fusion, Boubyan Bank is able to offer its customers best-in-class services, and convienent banking, anytime.
- Provides scalable flexible platform to meet present and future requirements
- Enhances banking convenience for customers
- Offers a wide range of online and personalized banking services
- Financial Services
Meeting Customer Needs 24 Hours a Day, 7 Days a Week
To build on its reputation as an innovator and customer service-oriented bank, Boubyan Bank was eager to expand its service offerings on the Web. However, like all financial service institutions, the bank needed to ensure the utmost in security for its customer information and internal operating information. The goal was to develop a new Internet banking system that offers a wide range of personalized online services to its customers while providing Boubyan Bank with the security, flexibility and scalability needed to fuel its growth.
When considering options for the new system, Boubyan Bank developed specific criteria: a solid track record in financial services, banking-ready solutions, and proven security and scalability. Financial Fusion Inc., a division of Sybase Inc., provides online banking and payments solutions to large financial institutions in the world. The e-Finance suite provides an integrated enterprise platform for retail banking services such as account management, bill payment, transfers, eServices and credit cards as well as for corporate cash management customers that addresses areas such as Trade Finance interface, global payments and global transfers. It also handles many areas in corporate cash management that include cash flow position, self administration, self multi-level approval framework in addition to comprehensive corporate reporting solution. The e-Finance suite also supports multi-affiliations and subsidiaries managed by one single deployment.
To meet those requirements, Boubyan Bank chose Sybase Financial Fusion's e-Finance suite. The bank was very confident that Sybase would meet the bank’s present and future requirements. Boubyan Bank viewed Sybase e-Finance suite as very secure, scalable and flexible solution with a middleware platform that makes it easy for the bank to deploy new software from any vendor without having to manage different platforms, systems or code. The use of Java provides additional flexibility Boubyan Bank was looking for to grow, expand and enhance its online banking system over time. This flexibility translates into immediate functionality and long-term cost savings. Says Kurien Varghese, head of the Information Technology Group, “We selected Financial Fusion for its rich functionality, scalability, security, and technical excellence.”
The bank’s implementation was carried out quite smoothly. To ensure the utmost in security, Boubyan Bank deployed various levels of firewalls, intrusion detection, prevention systems and network access controls, along with several other security measures. Before going live with the system, Boubyan Bank engaged an external security consultant to perform penetration tests to ensure that the environment where Financial Fusion runs is secured from both internal and external threats.
Boubyan Bank Goes Live With Sybase’s Internet Banking Solution
With Sybase Financial Fusion, Boubyan Bank is able to offer best-in-class services to its customers and offer them easy access and convenience to bank anytime and from anywhere. In addition, Sybase provided Boubyan Bank with a solution that is flexible, scalable, robust and built on an open platform with a host of functionalities for both retail and corporate customers. Boubyan Bank is now in production with Sybase Consumer Banking suite after a rapid implementation. The e-Finance Suite is integrated to the core banking systems through the solution’s middleware ensuring that all systems are working in tandem from day one. The e-Finance Suite solution is being handled by the e-Banking division in the Banking Services group of Boubyan Bank with the IT team supporting them with project management, customization and other technical support. The bank’s next phase of the effort is to implement the Corporate Banking suite.