Profinch Solutions, a global leader in financial technology, is proud to announce the continued success of its partnership with Gulf Bank, Kuwait (GBK), culminating in a major milestone achieved in May 2024. Over the past four years, Profinch has supported GBK in its comprehensive Core and Digital Transformation journey, delivering cutting-edge solutions across various banking streams, including the deployment of Atumverse Digital and Atumverse Data.
Project Overview:
As part of GBK’s multi-phase transformation, Profinch has provided seamless solutions for branch operations, customer onboarding, card servicing, and data management. The bank embarked on this journey to modernize its banking infrastructure, enhance operational efficiency, and deliver a superior digital experience to its customers.
Key Solutions Delivered by Profinch:
Atumverse Digital:
Gulf Bank initially adopted Oracle Banking Branch (UBBK) and Oracle Banking Origination (OBO) for branch operations as part of their core transformation. However, to meet the bank’s full requirements, GBK turned to Atumverse Digital—Profinch’s innovative suite that integrated seamlessly with their existing systems and outperformed competing solutions.
Key business areas addressed by Atumverse Digital:
- 30+ tailor-made workflows, built using Atumverse Studio, to enhance onboarding and card servicing.
- Comprehensive 360-degree customer view for branches and Relationship Managers (RMs).
- Reduced onboarding time for retail and corporate customers through automation of authentication, document generation, and signature uploads.
- Critical integrations with multiple systems, including RSA, LDAP (Microsoft AD), Civil ID readers, Fiserv, Oracle FLEXCUBE, and OFSAA (for AML/KYC/CS), to ensure seamless operations for over 1,000 users across branches and back offices.
The impact of this implementation was immediate and significant:
- Over 2,300 applications processed for customer and account originations within two weeks of going live.
- More than 900 card origination applications processed.
- 60,000+ transactions completed on customer, account, and card servicing.
Atumverse Data:
Profinch’s Atumverse Data solution enabled GBK to significantly enhance its data processing and reporting capabilities. Atumverse Data went live with Phase 1 a year ago, focusing on data marts and corporate reporting. The latest phase brought all data marts and over 170 operational reports online, built on Tableau and optimized for rapid processing.
- Profinch’s optimized ETL processes now complete in less than 5 hours, ensuring timely insights and robust data management.
OBDX Integration:
The digital transformation at Gulf Bank was further strengthened by the Oracle Banking Digital Experience (OBDX) platform, which Profinch implemented in phases, starting with OBDX 20.1 and continuing with the latest OBDX 21.1 version. The platform is now fully integrated with FLEXCUBE 14.5 and powers Gulf Bank’s digital channels, including mobile apps built on Flutter, IVRs, ATMs, and ITMs. These channels are connected through OBDX APIs, providing a seamless and unified digital experience for customers.
- Enhanced corporate banking features, including support for trade and bulk operations, have been rolled out as part of this integration.
Infrastructure Services:
In addition to digital and core banking solutions, Profinch played a crucial role in improving Gulf Bank’s infrastructure services. Running across five environments in parallel, Profinch’s team implemented solutions on Exadata, significantly boosting the bank’s operational capabilities. Gulf Bank’s internal infra team, previously identified as a challenge, was transformed through Profinch’s exceptional support and expertise.
Impact and Future Outlook:
Profinch’s solutions have empowered Gulf Bank to achieve full-scale digital transformation, enhancing customer experience, reducing operational inefficiencies, and positioning the bank as a leader in technological innovation. The comprehensive onboarding and card servicing workflows, seamless data integration, and robust reporting capabilities highlight Profinch’s ability to deliver end-to-end, tailored banking solutions.
As Gulf Bank continues to modernize its operations, Profinch remains a key partner, providing ongoing support, future enhancements, and cutting-edge solutions to ensure the bank’s continued success.
Why Profinch?
Profinch is renowned for its deep expertise in financial services and tailored solutions that address the specific needs of banks and financial institutions worldwide. By partnering closely with clients, Profinch delivers customized, end-to-end solutions that improve operational efficiency, customer experience, and regulatory compliance.
About Profinch Solutions:
Profinch Solutions Pvt. Ltd. is a global provider of innovative banking and financial technology solutions. We specialize in delivering advanced technology that drives efficiency, optimizes customer service, and ensures compliance for financial institutions around the world. With a focus on collaboration and excellence, Profinch empowers clients to stay ahead in a rapidly evolving financial landscape.
For more information, please visit www.profinch.com
or, contact us at: info@profinch.com
Media Contact:
Profinch Solutions Pvt. Ltd.
Bangalore, India
niranjan.ananth@profinch.com
www.profinch.com