Annik Technology Services Pvt Limited Successfully Implements Credit Management System (CMS) at National Bank of Fujairah

DUBAI, United Arab Emirates - Monday, March 5th 2012 [ME NewsWire]

(BUSINESS WIRE)-- Annik Technology Services Private Limited has announced the successful implementation of its Credit Management System (CMS) solution at the National Bank of Fujairah (NBF). With CMS, the Bank is able to automate the credit application process end-to-end so as to provide faster turnaround times and provide better service to clients.

Incorporated in 1982, NBF is a full services corporate bank with a strong background in wholesale banking and trade finance, and leverages its extensive banking experience and deep insight of the UAE to help clients achieve their business goals.

Rahul Sahgal, CEO of Annik, said that the successful implementation of the CMS platform has provided NBF with the flexibility, scalability, security and performance capabilities to enhance service delivery and bring more innovative products and services to market.

“The successful go-live with one of the established banks in the region is a validation of our technical capability and a proof of our strong commitment to assist our clients in the region.”

Sutanu Gupta, Director, Business Solutions at Annik, said: “We position our CMS at the heart of the Credit Life cycle management and credit risk management, which is why this implementation was natural and important to us.”

Annik’s partnership with NBF is in line with its strategy of strengthening its footprint in the Middle East region in the Financial Services space. Last year, Annik concluded a partnership agreement with Murex, the leading Capital Market, Treasury and Risk Management platform, for providing consultants in various Murex implementations in the region and has already deployed Murex-trained resources in a number of such implementations.

T.N. Sekhar, NBF’s Chief Operations Officer, said that CMS will help the Bank reduce turnaround time for its credit decisions and enhance the effectiveness of its credit underwriting and portfolio risk management: “By automating NBF’s credit process from origination to approval and subsequently into the documentation and limit handling process, Annik has provided NBF with an integrated platform that will allow us to scale up the refinement of our credit process as and when required.”

Vince Cook, NBF’s Chief Executive Officer, said: “Differentiation in service is an important part of NBF’s success.

“In Annik, we found a partner that was able to use its understanding of the financial sector and technical expertise to help NBF improve a fundamental part of its business. I would like to thank Annik for contributing towards the Bank’s goal of becoming a more productive and customer-oriented organisation.”

Contacts

Annik Technology Services Private Limited

Kundan Shekhawat

+971506681075



National Bank of Fujairah

Karl Ho

Senior Manager, Corporate Communications

+971 4 507 8351