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.
