- The solution will help National Bonds improve operational efficiency and increase employee productivity
- The unique software will provide insightful reports and analysis that will support effective decision-making
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds managed by Apax Partners, announced today that National Bonds, the UAE’s leading Shariah-compliant savings and investment company owned by the Investment Corporation of Dubai, has selected Azentio’s market leading Islamic Banking solution, iMAL, to support its quest to improve process efficiency, enhance internal controls and deliver an exceptional customer experience as part of National Bonds ambitious growth strategy.
Mohammed Qasim Al Ali, Group CEO of
National Bonds, said, “Technology has led a monumental change in the world of
finance. At National Bonds, we recognize the importance of adopting advanced
technology as it helps us not only improve internal processes but also our
speed to market and overall market standing. Our partnership with Azentio is
another step in our journey of innovation and with Azentio’s Islamic Banking
solution, we are expecting to drive successful transformation through better
operational performance, which will benefit our employees and customers as well
as our external stakeholders.”
Tony Kinnear, Chief Executive Officer of
Azentio Software, commented, “Azentio is delighted to partner with National
Bonds and support the UAE government’s initiative to continually strengthen the
country’s financial sector. We are confident that the selection of Azentio’s
iMAL solution will help National Bonds adapt quickly to evolving customer needs
for innovative Shariah-compliant products and services and offer a superior
level of service.”
The project implementation will be
completed in two phases over a 12-month period. Modules to be implemented
include Islamic Profit Calculation & Distribution, Business Process
Management, Budgeting, Fixed Assets Procurement & Management, Customer
Relationship Management, Reporting, and integration with National Bonds’
external systems and digital channels.