Overview

National Bank of Fujairah is a full-service corporate bank that offers corporate and commercial banking services across the UAE.

The National Bank of Fujairah has more than 15 branches across the UAE.

I-exceed technology solutions is an India-based FinTech company offering a suite of cloud-based omnichannel solutions for differentiated banking experiences.

Their flagship Digital Banking and Retail Onboarding suite called Apppzillion was chosen by the National Bank of Fujairah to help revamp 1 of their current apps and also launch a new one.

Implementation Process

NBF had an existing onboarding application which was not gaining much traction in terms of usage. In addition, any changes / additional features require a lot of time and cost for development. NBF wanted to go with an omnichannel solution which enabled greater flexibility and faster time-to-market.

i-exceed’s Appzillon Retail Onboarding Solution is a one-stop solution for customer onboarding, including KYC compliance and enrolment of various products. The primary challenge during the implementation process was revamping of existing onboarding app NBF Instant and launching the new app, NBF Connect, in the desired timeframe, keeping all stakeholders satisfied. Design to go live of NBF Instant and Fulfillment was completed in a span of 4.5 months. Development and go-live for NBF Connect were completed in 12 months. Capabilities developed for scanning and extracting 15 different types of trade licenses.

Benefits Achieved

• Fulfilment app – tablet app exposed to only the NBF internal retail sales agents for further processing
• Fulfilment of the user-submitted applications so that the restricted accounts can be  converted to full-fledged accounts on completion of the full KYC
• Launching an omni-channel solution to enable greater flexibility and faster time-to-market
• Improved traction from 400+ applications in 2 years to 600+ in 6 months
• Application submission times reduced to less than 5 minutes
• Overall turn around time to onboard a customer was reduced from 5-6 days to less than 2 days

Conclusion

I-exceed developed the above applications to cater to the NBF retail onboarding process. NBF Instant – a mobile app where users can submit their details (for further processing) and get a restricted account activated immediately. With the help of i-exceed’s Retail onboarding solution, NBF was able to achieve the desired benefits in the stipulated time frame.

Key Facts

• Supplier: i-exceed
• Headquarters: India
• Founded: 2011
• Solution: Appzillon
• Timeline: 12 months