In less than a decade, our lives have shifted from being digital second to digital first. As technology forges ahead, fashioning more convenient lifestyles, people’s preferences are changing in response to an increasingly digital world. Consequently, this shift has fuelled the evolution of customer expectations.
With digital transformation causing a shake-up across industries, the financial sector is no exception.
In the Middle East, the increasing digitalisation along with the growing tech-savvy population is compelling banking and financial institutions to reconsider their approaches and undertake transformations to become more competitive. Beyond mere modernisation, digitalisation represents a profound transformation that transcends traditional boundaries, revolutionising how financial institutions operate, interact with customers, and deliver value. As the convergence of finance and technology accelerates, embracing digitalisation is no longer a choice but an imperative.
In response to the sweeping tide of technological advancement and shifting customer expectations, Saudi-based Arab National Bank (ANB), like many others in the financial sector, is charting a course towards a digital future.
“Two years ago, we set out to transform ANB to become a premier banking institution, offering authentic digital experiences,” said Aiedh Al Zahrani, Chief Operating Officer, ANB.
“We’ve implemented several changes, including a revamp of our brand identity. But our transformation goes beyond aesthetics. We have also reimagined our approach to client engagement, prioritising simplicity and creating an enjoyable journey for each client.”
Central to this transformation is a comprehensive overhaul of ANB’s technological infrastructure.
According to Al Zahrani, as a result of the bank’s digital transformation initiatives, ANB is experiencing exceptional organic growth. He further noted that the strategic alliance with Oracle has played a pivotal role in accelerating ANB’s digitalisation goals.
“Our approach towards transformation is driven by our determination to reshape the banking landscape. The holistic Oracle Cloud ecosystem has been instrumental in overhauling multiple aspects of our bank, including shared services, human resources, back-office operations, and customer engagement services,” he explained.
Most recently, ANB’s primary focus has been directed towards enhancing customer experience and engagement, which is another area where Oracle also plays a significant role. The bank adopted the Oracle CX Cloud Suite to provide more personalised and seamless services for its vast customer base. By integrating customer service, marketing, and sales functions, Oracle CX serves as the linchpin of ANB’s customer relationship management (CRM) systems, equipping it to deliver future-ready digital services.
“Oracle is a pioneer in cloud innovation and they have been instrumental in enabling organisations’ digital transformations. Their extensive solutions portfolio and vast network of adept partners in the region, coupled with their unwavering commitment to helping us achieve our objectives, have yielded tangible results. Our successful track record in all Oracle-driven implementations underscores this, and we eagerly anticipate working with them more in the future,” said Al Zahrani.
Bruno Morais, Vice President – Business Applications, Saudi Arabia, Oracle, said, “Arab National Bank has embarked on a major digital transformation, and delivering a distinguished customer experience is a key focus for the bank. With Oracle CX Cloud, Arab National Bank will be able to deliver a highly personalised customer experience with a data platform that creates a single, dynamic view of each account and delivers intelligence—in real time—to marketing, sales, service, and commerce. Furthermore, with embedded Artificial Intelligence capabilities, the bank’s leadership can analyse historical trends in real time and make data driven decisions to meet business targets.”
The partnership between ANB and Oracle signifies a remarkable convergence of vision and technology. Beyond merely facilitating ANB’s transformation, Oracle’s solutions have been the driving force propelling it forward, equipping the bank with the means to craft a future where customer-centricity seamlessly reigns. As ANB continues to navigate the dynamic landscape of the Middle East’s financial sector, its partnership with Oracle stands as a testament to the transformative power of cloud and innovation in shaping the future of banking.
