Overview

Based in the Kingdom of Bahrain with an international presence that spans the Middle East and South Asia, BBK is regarded as a banking industry pioneer, bringing innovative products and services that transform the customer experience and elevate the financial services industry. Intellect’s solution implementation was one of the largest and complex implementations in Bahrain and a marquee transformational program for BBK. BBK has replaced its current Cash Management system with intellect’s DTB product suite which is robust and allows the Bank to enhance its product offerings in Account Services, Payments (including Inward Remittance), Collections and Receivables, Liquidity Management, Host to Host and Mobility (Android, IOS and iWatch).

Implementation Process

The requirements of BBK Bank were –

• To replace their 12-year-old cash management system with robust platform having best in class features functionality as part of the Banks’ Digital Transformation Journey to compete in Bahrain Market and scaleable to be expaned to cover other markets where the Bank operates in the near
• The Bank was looking for a one stop solution for its Business Banking Customers to handle bigger volumes of Corporate
• An Integrated cash management solution which can work seamlessly, end to end without manual
• To expand their portfolio by way of offering additional product lines, standardize products and processes across countries; Liquidity & Collections along with Host to Host & Mobility channel solutions
• To replace existing incumbent channel solution which run with limited capabilities and performance challenges
• An Omni Channel experience for the End Customer enabling revamped user experience and thereby ensuring customer stickiness

The project team comprised of internal stakeholders from various areas including Cash Management, Corporate Banking, Institutional Banking, Information Technology, Information Security, Financial Control in addition to the implementation team from Intellect. Intellect Design Arena took the following measures to meet the bank’s requirements-

• Meticulous Project Planning and execution along with a detailed study of BBK’s requirements and Product
• Integration with Bank’s Middleware and Core system – 70+ new interfaces tested & integrated with the bank’s
• Thorough Product Testing – Overall 18000+ Test cases were created and executed for this
• Project governence methodology with close monitoring and tracking by a well appointed project steering
• Customer Relationship Management by maintaining excellent rapport with key client stakeholders right from start of the There were no client escalations for the entire implementation duration.
• Automation of release deployments & proper traceability of releases by Intellect Release Management team across different phases of
• First time integration of Inward Remittance product, specially built for BBK with
• DTB product line along with Inter Company Loans and Investment
• Two Factor Authentication with Vasco soft token (token generated by app in Mobile instead of hard token) and suite integration with Credimax- a regional card

Benefits Achieved

• DTB empowered BBK to rapidly and cost-effectively deliver innovative digital banking services and exceptional customer experience for its corporate
• The new integrated transaction banking platform “BBK BanKey” allows clients – both SMEs as well as multinational corporations – to consistently view, monitor and control their consolidated financial
• The project is future-proof and the technology implemented will improve the agility and speed to market for BBK’s

Conclusion

BBK is leading the digital revolution in Bahrain with digital transformation projects. The Bank is known for its leadership in deploying technology enabled services. Thus, in order to retain that position, it is imperative to have a digital environment that supports innovative, customizable and rapidly deployed products. The DTB solution implemented by Intellect Design Arena helped BBK to cater to the digital wave by delivering innovative digital banking experiences to its corporate customers

Key Facts:

• Bank Name: Bank of Bahrain and Kuwait (BBK)
• Bank Founded In: 1971
• Bank HQ: Manama, Bahrain
• Vendor Name: Intellect Design Arena
• Solution Implemented: Digital Transaction Banking Suite (DTB)
• Timeline: 14 months