Nbk - New Record Management System

NBK successfully implemented new record management system

The National Bank of Kuwait (NBK) announced the successful implementation of a new cutting edge Record Management system. The system is the first of its kind in the Middle East and will manage all the banks documents and records in any format. This will allow for easier access to documents and reduce procedure time at the bank.

"The project is meant to further develop and enhance the services provided to NBK customers," said Al-Khonaini, Deputy General Manager at NBK. He added that this project is in line with NBK's tradition of making use of new technologies in order to provide better services to its clients.

"This approach of handling data is becoming a standard worldwide. We decided to get on board with the new tendencies and technologies of Record Management," said Al-Khonaini. He asserted that in addition to the immediate benefits of the system, it will be easier for NBK to adopt future technologies that will be based on this globally standardized Record Management system.

"Any piece of information related to any client critical records will be accessible with this system, quickly and effectively", said Assem Rashidi, Head of Mediterranean and Gulf Solution (MGS), the company working to install the solution.

The project started in April 2007 and was divided into phases. The first phase NBK had built a clear vision of this initiative and contracted with world-pronoun consultancy firm in order to layout the ground work and pave the way for a sold system implementation, with solid policy that was put in place. The second phase includes installing the Open Text ECM system in the headquarters of NBK. The third phase includes connecting all the local NBK branches to the system. The last phase will connect all NBK's business areas to the system.

The system contains nine levels of security to protect against any cyber attacks and stores all the data in an encrypted form. The system also performs an immediate back-up to a mirror server to maximize information security.

In 2009, Global Finance magazine named NBK as one of the world’s 50 safest banks. In pure financial terms, by year-end 2008, it was posting $10.27 billion of assets under management