The National Bank of Kuwait (NBK) has awarded LogicaCMG a two year contract worth US$27million to overhaul and modernise its core banking infrastructure.
Under the agreement LogicaCMG will manage the replacement of NBK's current bank branch teller and core banking systems alongside implementing a service orientated architecture (SOA).
Commenting on the deal, Fadi Chehayeb, CIO at NBK, says: "LogicaCMG was the best fit for this project because not only could it provide the systems integration, technical and business consultant skills we needed but it also had the right third party relationships in place along with local support."
LogicaCMG says once the new infrastructure has been implemented NBK will benefit from improved management control and streamlined processes, new branch functionality and enhancements to retail and corporate banking operations.