Saudi Arabia's National Commercial Bank has licensed the Finacle suite of software from India's Infosys for the provision of Web-based corporate cash management and trade finance and retail e-banking services.
NCB, the largest bank in the Arab world, will be deploying the Microsoft .NET-based Finacle eCorporate and eChannels packages. It is the third bank in the Kingdom to sign up for Finacle after Saudi Holandi Bank and Saudi Investment Bank.
Mohammed Hussain Naseem, Infosys business development manager, Middle East, says: "Increasingly, banks in the Gulf and Levant region are demanding a whole range of online corporate banking functionalities, extensive cash management features on an online, real-time mode to meet the demands of the corporates."
The vendor says it is currently upgrading Finacle eCorporate to handle cross border & multi-bank payment capabilities for the European market and to cover payment systems in Europe, the US and Canada.