Confluent has announced that Arab National Bank has successfully leveraged the Confluent Data Streaming Platform to unlock the power of its operational and customer data. This is enabling the bank to introduce innovative new services that enhance customer experiences, and proactively collaborate with the Kingdom’s new breed of agile FinTech companies.
“By Implementing Confluent’s platform, we are able to harness the power of real-time data. Given the scale of our operations, we are able to use this to offer actionable insights to our FinTech partners. The value this provides is evidenced in the fact that we now support 65 per cent of the FinTech ecosystem across the Kingdom,” explained Naif Alharbi, CIO at Arab National Bank.
Equally important has been the Bank’s ability to create compelling new offerings for Its customers. One of these has been a service that simplifies and streamlines savings by analysing transactions in real-time, and automatically transferring funds to a customer’s current account based on their predefined savings criteria.
Arab National Bank is also utilising the real-time transaction insights made possible by Confluent’s data streaming solution to implement a new loyalty programme.
“Confluent empowers us to capture all the data a customer generates when interacting with us – be it at our branches or via our digital channels. Using this detailed information, we are able to assign loyalty points which customers will be able to exchange for rewards. Without the power of real-time streaming, we simply wouldn’t have the insight we need to effectively create this attractive programme,” said the bank’s Head of Business Technology, Omar Alageel.
