First Gulf Bank scoops Celent Model Bank Award 2017 for Connected Corporate Banking with Misys
17 April 2017
For the second year in a row, Misys has been recognised in the Celent Model Bank Awards – this time for work with First Gulf Bank (FGB) on its Connected Corporate Banking initiative.
The bank is held up by Celent as “a prime example of a bank in a developing region that is leveraging technology to leapfrog its competitors by offering an integrated digital experience for its transaction banking clients.”
Working with Misys, FGB has launched a host of new cash management and trade services, all of which are compliant with Shari’ah finance principles. This move has set FGB apart as the only bank in the region that offers full Islamic banking capabilities around cash and trade. Behind the scenes, the bank has digitised and integrated end-to-end cash and trade operations, delivering a seamless, omni-channel experience for all clients, both big and small.
Susan Feinberg, Senior Analyst of Celent's Banking practice commented, "This initiative was a major undertaking that has seen FGB reinvent its entire approach to corporate banking, transforming back end systems and processes and revolutionizing client-facing capabilities."
FGB’s total banking transformation has delivered a huge boost to income – transaction banking revenues are up 73 percent and cash has grown by 315 percent.
Read more about the bank’s story here.