RealTime IT News

Oracle Scores Middle East Bank

Software giant Oracle Corp. , today announced that the National Bank of Dubai will upgrade its financial modules to the latest version of the Oracle E-Business Suite for updated financial reporting throughout the entire bank.

In addition, the financial services firm will also roll out Oracle Human Resources Management System (HRMS), including payroll and self-service functionalities, to its 1,100 bank employees.

National Bank of Dubai expects the human resources project to optimize its personnel and lower administration costs per employee. While Oracle's payroll and self-service functions aim to reduces processing costs, and enables the bank's managers and employees to access and manage information and transactions over the Web.

"Streamlining back-office processes is critical to a bank's overall service and profitability," says Douglas Dowie, general manager for the National Bank of Dubai.

The upgraded financial modules and new human resources applications will allow us to significantly reduce administrative procedures, which we believe will lead to a healthier bottom line as well as more time to develop new products and services," he adds.

"The banking industry is among the most competitive sectors in the Middle East, and Oracle is proud to work with organizations like National Bank of Dubai who aim to retain their viability and advantage with customers," says Husam Dajani, vice president of Oracle Middle East.

"By investing in a strategy to streamline its back-office, National Bank of Dubai is becoming a more efficient and competitive organization. The new system will enable the bank to optimize its staff and improve the speed to market and effectiveness of the decision-making process," he explains.