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AJIB Operates its New Fully-Integrated Core Banking System - The Arab Jordan Investment Bank (AJIB) started running live a new core banking system. The new system has been implemented at AJIB head-office and rolled out to all the bank’s branches and offices
AJIB Operates its New Fully-Integrated Core Banking System

 

NewswireToday - /newswire/ - Amman, Jordan, 2010/03/29 - The Arab Jordan Investment Bank (AJIB) started running live a new core banking system. The new system has been implemented at AJIB head-office and rolled out to all the bank’s branches and offices.

   
 
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As the old system was slowly starting to phase out, AJIB was triggered to look for a new solution that can support its escalating advancement and business needs. After receiving professional consultation and technical assessment of market offerings, AJIB opted for BANKS, the robust core banking system provided by CCS (Computer & Communications Systems), the Jordanian systems integrator and turn-key solutions provider.

“The geographical proximity of CCS was a key factor in choosing them as our solution vendor,” affirmed Mr. Wael Al Qadi, Ass. General Manager, AJIB. “By working with a Jordanian company, we can avoid language barriers and other inconveniencies, while ensuring availability and quick responses in handling any arising issues,” he added. CCS offered customization and localization of its system based on the needs of the Jordanian market. “The functionality scope provided by BANKS comes in line with our bank’s size and requirements,” added Mr. Al Qadi.

Adoption of BANKS entailed a reengineering process of all the bank’s procedures. Restructuring and reorganization of all departments took place to enable them to work centrally and support the adoption of the new system.

The main challenge behind accomplishing a successful implementation project was integrating BANKS with the various solutions and delivery channels deployed by AJIB, such as Internet Banking, SMS Banking, Swift and ATM systems. “The key integration we are proud of is the one we performed between BANKS and the Signature Verification and Electronic Check Clearing solutions provided by ProgressSoft,” expressed Mr. Al Qadi.

Since 1993, AJIB has been maintaining a long-term, mutually valuable relationship with ProgressSoft Corporation, the leading provider of real-time payments and imaging solutions. The bank currently operates ProgressSoft’s PS-SIG, the Signature Verification Solution, and PS-ECC Ver. 13, the latest version of the renowned Electronic Image-based Check Clearing Solution that actualized a same-day check clearing cycle across all banks in the country. “Integrating BANKS with ProgressSoft’s solutions presented us with a fully-fledged system that performs impeccable signature verification and check clearing processes,” said Mr. Al Qadi. The integration furnished a unified interface, through which all vital data and images pertaining to the client’s signature, check, and bank account are retrieved from the 3 solutions and displayed on the same screen. “Work processes can now be accomplished in a faster manner and without mistakes”, confirmed Mr. Al Qadi.

Upon this triumphant integration, AJIB reaffirmed their satisfaction in working with ProgressSoft. “We are always keen to collaborate and grow with ProgressSoft. We are benefiting from all their solutions, and thus we keep a close eye on their new offerings and technology”, said Mr. Al Qadi.

Alongside the deployment of BANKS, AJIB also carried out the implementation of a sophisticated workflow solution, provided by Pio-Tech, the System Integrator and Business Solutions Provider. The system specifically covers certain modules in the bank, starting with the LGs (Letters of Guarantee) and LCs (Letters of Credit). With the new workflow, the traditional paper-based processes are replaced with electronified procedures that are concluded within 15 minutes from the time of initiating the LG or LC application. At any of AJIB branches, applications are now filled out on the system, transferred to all concerned parties, approved by head-office management and processed by operations, all in an electronic manner. The integration with BANKS enables corresponding transactions on the client accounts and on other systems to be automatically conducted.

With the newly electronified workflow operating through BANKS, time-consuming data entry steps have now ended, while work processes are securely carried out with speed and accuracy. AJIB clientele is primarily benefiting from the expedited procedures as requests, applications, letters and approvals are processed within minutes. “Naturally, all this has directly resulted in elevating the satisfaction of our clients, who have already expressed positive feedback on the quick and better services they are enjoying,” noted Mr. Al Qadi. While significantly increasing the efficiency of the banking operations, the system also provides specific information which presents more clarity to the client. From a managerial perspective, the system presents an effective management and reporting tool that furnishes a closer insight on employee performance, in addition to tracking all transactions and controlling work procedures and delays.

About AJIB
The Arab Jordan Investment Bank (AJIB) is Jordan’s leading investment and private bank. AJIB offers a wide variety of investment, commercial and private banking products and solutions tailored for its discerning clientele. As a major player in the region’s investment banking scene, AJIB provides corporate finance services, including mergers and acquisitions, equity capital markets, transaction advisory services, project finance and equity research. AJIB embraces 25 branches and offices which cover major locations in Jordan, in addition to locations outside the Kingdom including Limassol-Cyprus and Tripoli-Libya. The bank serves its clientele in Qatar and the Gulf region through Arab Jordan Investment Bank (Qatar) LLC in Qatar Financial Center. The bank also operates subsidiaries such as The United Arab Jordan Company for Investment and Financial Brokerage which addresses client needs at the Amman Stock Exchange, and Arab Advisors Group that furnishes highly regarded research offerings in the fields of finance, telecom, IT and media.

About CCS
In 1982, Computer & Communications Systems Limited (CCS) was founded in Jordan as a Systems Integrator and Turn-Key solutions provider. CCS' focus is on the specific business areas of Retail Banking & Finance, Healthcare, Education and Police and Security Solutions. CCS has always targeted international markets, providing IT services to a wide range of countries and regions. CCS addresses complete IT projects' cycle: from initial consultancy to design, development, implementation, and ongoing maintenance and support.

About ProgressSoft
Established in 1989, ProgressSoft (progressoft.com) has been focusing its proficiency in Real-time Payments and Imaging technologies to deliver a set of innovative solutions tailored for the needs of the banking and financial sectors. Serving a diversified client base of 140+ banks in 22 countries around the globe, ProgressSoft provides solutions in the fields of Electronic Image-based Check Clearing, Automated Clearing House, Mobile Payments, Intelligent Signature Recognition and Real-time Settlement for Securities Trading.

About Pio-Tech
Established in 2003, Pio-Tech is a System Integrator and Business Solutions Provider powered by strategic alliances with distinguished business partners. Pio-Tech formed partnerships with several world-renowned IT companies to integrate its various solutions with IT specific applications. Such solutions include; packaged work flow solutions, which automate business processes, Management Information Systems [MIS] with Business Intelligence [BI] solutions, which are used for accessing centralized information, providing analytical applications, and offering a simplified access to legacy data sources.

 
 
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Written by / Agency / Source: ProgressSoft Corporation

 
 

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AJIB Operates its New Fully-Integrated Core Banking System

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Publisher Contact: Yazan A. Goldstein - ProgressSoft.com 
+962 6 56 23 000 x211 yazan.goldstein[.]progressoft.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ProgressSoft Corporation securities in any jurisdiction including any other companies listed or named in this release.

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