National Bank of Fujairah Enhances CX With SOA and RPA
Process Automation Saves 200 Hours of Staff Time Each Month
Incorporated around 30 years ago, the National Bank of Fujairah (NBF), UAE, is one of the leading banking organizations in the region with assets of over AED 42.9 billion and an operating income of AED 1.4 billion. It primarily operates in areas of corporate and commercial banking, trade finance, and treasury. Since the bank started its retail banking operations only a few years ago, it has a small network of 15 branches and over 38 ATM locations.
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Challenged with the legacy and technology debt accumulated over the years, the bank decided to shift tracks and modernize its tech stack in 2019. To instill trust and provide a better experience to its customers, the bank decided to upgrade its technology and move to a service-oriented architecture (SOA) for creating a smaller pool of services that resulted in enhanced customer engagement. Additionally, the bank also automated as many as 50 processes using robotic process automation (RPA) to relieve the business executive from performing mundane duties and instead focus on enhancing customer experience (CX).
One of the other highlights of this tech-refresh was seamless authentication for both employees as well as the customers who log in from various devices. Powered with multi-factor authentication, the single sign-on resulted in the reduction of credential misuse and frauds.
In a video interview with Information Security Media Group, Hariprasad Chede, chief information security officer, NBF, UAE, discusses:
- NBF’s approach to SOA and automation;
- Technology refresh to instill trust and better engagement;
- Single sign-on for customers for seamless log in and prevention of frauds.
Chede has nearly two decades of experience in information risk and security domains, of which he spent around 15 years in financial organizations. Chede was also the president of ISACA, UAE chapter, and the manager for information risk and security at Union National Bank.
