As part of the bank’s second phase of expansion, Emirates National Bank of Dubai has announced that it has partnered with SAP, becoming the first bank to adopt the company’s SAP Financial Services Data Platform.
The digital solution, powered by the SAP in-memory data platform, is a data management platform which facilitates data analysis and the end-to-end reporting of conceptual and physical data collected from areas such as Finance, Insurance, Accounting, Risk and Customer Analytics.
Through the implementation of the solution, Emirates NBD can now deliver customer data across all countries, entities and market segments it covers, according to a report by Zawya.
SAP’s solution has currently been implemented into the bank’s wealth management and retail banking segments, being completed in 10 months. The completion of the implementation marks the shift into the second phase of the bank’s expansion of its data platform; this flagship initiative is the biggest undertaken by the bank, amounting to an over-USD 270,000 investment.
Through this expansion, Emirates NBD hopes to improve the experience of its clients through the progressive enhancement of its digital offering, namely through its capitalisation on data-driven intelligence, facilitated by the SAP solution.
The Group Chief Operating Officer of Emirates NBD, Abdulla Qassem, has said that “being increasingly effective and efficient in both harvesting and leveraging our growing critical data is core to Emirates NBD’s digital transformation. We are proud to be the first bank in the world to successfully go live with SAP Financial Services Data Platform, after initially launching our Enterprise Data Platform in November 2018. Harnessing the power of Hadoop and SAP HANA has brought significantly increased capability to our Enterprise Data Platform which is ultimately aligned with Emirates NBD’s vision to drive data-driven decision making holistically across the bank.”
Zakaria Haltout, the Managing Director of SAP, United Arab Emirates, added that “we (SAP) are pleased to partner with Emirates NBD as it continues expanding its Enterprise Data Platform capabilities. As the first global bank to leverage SAP Financial Services Data Platform, this is a milestone for both of our organizations. Emirates NBD’s Enterprise Data Platform handles massive volumes of diverse data and can now derive real-time insights to improve the customer experience, drive growth, optimize risk controls and business outcomes, and automate business processes.”
Now that the SAP Financial Services Data Platform has been integrated into Emirates’ retail banking and wealth management segments, the bank hopes to further expand its usage of the solution; it indents to potentially extend it to the areas of assets, liabilities, human resources, trade finance, and eventually analytics and reporting.
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