The National Bank of Umm Al Quwain has signed a contract with Infosys Technologies for licensing and implementing its Finacle system, a bank official said.
"The National Bank of Umm Al Quwain has a tradition of providing personalised and innovative products and services to its customers.
"With the implementation of [this] new technical infrastructure, the bank will offer new products and services, more transaction channels, and strive to achieve total customer satisfaction," said Shaikh Nasser Bin Rashid Al Mo'alla, the bank's managing director and chief executive.
Finacle is intended to enhance the bank's core operations.
The bank also announced the signing of a contract with Alpha Data Ltd, for a new state-of-the-art computer hardware system using an HP platform. The project will be managed by Cedar Consulting.
This decision is a strategic win for Finacle as it further consolidates its footprint in the Middle East, said Girish Vaidya, senior vice-president and business head Finacle, Infosys Technologies.
"We are very excited to be associated with the National Bank of Umm Al Quwain. We will be working closely with the Bank to help [it] effectively leverage [this] technology to meet their ambitious growth plans," he said.
The move is part of the bank's strategy to launch new products, enhance customer services and build new channels.
Cedar Consulting is assisting the bank in formulating and implementing its new business and IT strategy.
The bank's envisaged delivery channels include call centres, retail and corporate internet banking services, and an expanded branch/ATM network.
