United Arab Bank established a partnership with Kyndryl, the biggest provider of IT infrastructure services in the globe. Kyndryl will assist UAB in its efforts to redesign and execute a new enterprise data model that is aligned with industry standards and transform its data assets.
One of the oldest banks in the United Arab Emirates (UAE) is UAB, which was founded in 1975. In order to provide better financial solutions and produce exceptional customer experiences, the bank is consistently investing in digital and analytics capabilities.
As per the agreement, Kyndryl and UAB will collaborate closely to collect substantial amounts of unstructured raw data from numerous systems, put it into a format that can be used, and provide a single, unified view inside the company. The bank's broad and continuous efforts to improve customer experience, increase employee efficiency, and ensure data management and protection will be strengthened and supplemented by this programme.
“We need serious efforts to harness the power of the bank data. At UAB, we have already created an advanced data management framework that ensures the latest analytic processes to drive results across all of our platforms and delivery channels," said Ayman AlQudsi, Chief Information Officer of UAB.
"We are also making significant progress on automation by transforming core platforms to online and mobile banking. It enhances our data storage infrastructure as well as helps security landscape while working with Kyndrl to transform the collection of our structured and unstructured data into an actionable intelligent platform. Such initiative will improve the bank's customer experience, and understand their behaviors and trends, which will eventually tailor and offer customized offerings to each customer, improve lending decisions, and improve retention in addition to decreasing fraud and ensuring compliance with the regulatory reporting,” AlQudsi concludes.