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The Commercial Bank of Qatar (CBQ), the largest private bank in Qatar, had a complex application architecture as a result of fast-paced growth over the years. In 2013, the bank decided to realign its IT architecture with its business vision. Working with TCS, a leading global IT services, consulting and business solutions organization and K2 Partner, the bank implemented a pilot project for improving its loan origination process.
The new funds transfer solution boasts an optimally designed front-end and components specifically designed for ease of use. The bank was also able to connect K2 to the EMC Documentum imaging system and incorporate the Bankers’ Almanac for automatic verification and completion of the beneficiary’s bank details. All of these steps added up to a 35% reduction in time spent processing the requests.
Benefits: Commercial Bank of Qatar saw a 50% reduction in FTE's and a 35% reduction in turnaround times in their Funds Transfer solution.