Vision Bank becomes operational with Finastra's cloud-native, Islamic banking treasury solution
Vision Bank, a Sharia-compliant digital bank in Saudi Arabia, has successfully launched its pilot phase operations using Finastra Kondor and cloud-based managed services from DXC Technology (NYSE: DXC). The implementation enhances the bank's treasury trading and risk management capabilities.
The solution provides sophisticated functionality for asset and liability management, liquidity management, trading and investment, foreign exchange, capital adequacy, and reserve management. The cloud deployment aligns with Vision Bank's strategy of improving user experiences while meeting new market demands.
The implementation was important in Vision Bank (formerly Saudi Digital Bank) obtaining no objection from the Saudi Central Bank. The project contributes to the Financial Sector Development Program under Saudi Vision 2030, positioning the bank as a pioneer in providing seamless, Sharia-compliant banking solutions.
Vision Bank, una banca digitale conforme alla Sharia in Arabia Saudita, ha lanciato con successo le operazioni della sua fase pilota utilizzando Finastra Kondor e servizi gestiti basati su cloud di DXC Technology (NYSE: DXC). L'implementazione migliora le capacità di trading e gestione del rischio della banca.
La soluzione offre funzionalità sofisticate per la gestione degli attivi e passivi, la gestione della liquidità, il trading e gli investimenti, il cambio estero, l'adeguatezza del capitale e la gestione delle riserve. Il deployment su cloud si allinea con la strategia di Vision Bank di migliorare l'esperienza degli utenti, soddisfacendo al contempo le nuove esigenze di mercato.
L'implementazione è stata fondamentale per Vision Bank (ex Saudi Digital Bank) nell'ottenere l'assenza di obiezioni dalla Banca Centrale Saudita. Il progetto contribuisce al Programma di Sviluppo del Settore Finanziario nell'ambito della Visione Saudita 2030, posizionando la banca come pioniere nella fornitura di soluzioni bancarie conformi alla Sharia senza soluzione di continuità.
Vision Bank, un banco digital conforme a la Sharia en Arabia Saudita, ha lanzado con éxito las operaciones de su fase piloto utilizando Finastra Kondor y servicios gestionados en la nube de DXC Technology (NYSE: DXC). La implementación mejora las capacidades de trading y gestión de riesgos del banco.
La solución proporciona funcionalidades sofisticadas para la gestión de activos y pasivos, gestión de liquidez, trading e inversiones, cambio de divisas, adecuación de capital y gestión de reservas. El despliegue en la nube se alinea con la estrategia de Vision Bank de mejorar la experiencia del usuario mientras satisface las nuevas demandas del mercado.
La implementación fue importante para que Vision Bank (anteriormente Saudi Digital Bank) obtuviera la no objeción del Banco Central Saudí. El proyecto contribuye al Programa de Desarrollo del Sector Financiero bajo la Visión Saudita 2030, posicionando al banco como pionero en la provisión de soluciones bancarias conformes a la Sharia.
비전 뱅크는 사우디 아라비아의 샤리아 준수 디지털 은행으로, 피나스트라 콘도르와 DXC 테크놀로지 (NYSE: DXC)의 클라우드 기반 관리 서비스를 사용하여 파일럿 운영을 성공적으로 시작했습니다. 이 구현은 은행의 재무 거래 및 위험 관리 능력을 향상시킵니다.
이 솔루션은 자산 및 부채 관리, 유동성 관리, 거래 및 투자, 외환, 자본 적정성 및 준비금 관리를 위한 정교한 기능을 제공합니다. 클라우드 배치는 비전 뱅크의 사용자 경험 개선 전략과 새로운 시장 수요를 충족하는 데 부합합니다.
이 구현은 비전 뱅크(구 사우디 디지털 뱅크)가 사우디 중앙은행으로부터 이의 없음(No Objection)을 얻는 데 중요했습니다. 이 프로젝트는 사우디 비전 2030에 따른 금융 부문 개발 프로그램에 기여하며, 은행을 샤리아 준수 은행 솔루션을 제공하는 선구자로 자리매김하게 합니다.
Vision Bank, une banque numérique conforme à la charia en Arabie Saoudite, a lancé avec succès les opérations de sa phase pilote en utilisant Finastra Kondor et des services gérés basés sur le cloud de DXC Technology (NYSE: DXC). L'implémentation améliore les capacités de trading et de gestion des risques de la banque.
La solution offre des fonctionnalités sophistiquées pour la gestion des actifs et des passifs, la gestion de la liquidité, le trading et l'investissement, les échanges de devises, l'adéquation du capital et la gestion des réserves. Le déploiement dans le cloud s'aligne avec la stratégie de Vision Bank d'améliorer l'expérience utilisateur tout en répondant aux nouvelles demandes du marché.
L'implémentation a été importante pour que Vision Bank (anciennement Saudi Digital Bank) obtienne l'absence d'objection de la Banque centrale saoudienne. Le projet contribue au Programme de développement du secteur financier dans le cadre de la Vision saoudienne 2030, positionnant la banque comme un pionnier dans la fourniture de solutions bancaires conformes à la charia.
Vision Bank, eine sharia-konforme Digitalbank in Saudi-Arabien, hat erfolgreich die Pilotphase ihrer Operationen mit Finastra Kondor und cloudbasierten Managed Services von DXC Technology (NYSE: DXC) gestartet. Die Implementierung verbessert die Handels- und Risikomanagementfähigkeiten der Bank.
Die Lösung bietet anspruchsvolle Funktionen für das Management von Vermögenswerten und Verbindlichkeiten, Liquiditätsmanagement, Handel und Investitionen, Devisen, Kapitaladäquanz und Reservemanagement. Der Cloud-Einsatz steht im Einklang mit der Strategie der Vision Bank, die Benutzererfahrung zu verbessern und gleichzeitig neuen Marktanforderungen gerecht zu werden.
Die Implementierung war entscheidend, damit die Vision Bank (ehemals Saudi Digital Bank) die Zustimmung der Saudi Arabian Monetary Authority erhielt. Das Projekt trägt zum Programm zur Entwicklung des Finanzsektors im Rahmen der Saudi Vision 2030 bei und positioniert die Bank als Pionier in der Bereitstellung nahtloser, sharia-konformer Banklösungen.
- Strategic partnership with Fortune 500 company DXC Technology
- Successful regulatory approval from Saudi Central Bank
- Enhanced treasury and risk management capabilities through cloud deployment
- Alignment with Saudi Vision 2030 financial sector goals
- None.
Insights
DXC Technology's strategic partnership with Finastra to provide cloud-based managed services for Vision Bank represents a valuable deployment in the Saudi financial services sector. This implementation has directly enabled Vision Bank to receive regulatory approval and launch its pilot operations, positioning DXC as a critical technology enabler in the region's banking transformation.
The deal encompasses ongoing managed services for Finastra's Kondor treasury trading platform, indicating a recurring revenue stream for DXC rather than just a one-time implementation. While financial terms aren't disclosed, the partnership's alignment with Saudi Vision 2030's Financial Sector Development Program suggests potential for expanded opportunities within Saudi Arabia's growing digital banking ecosystem.
From a business perspective, this implementation showcases DXC's specialized capabilities in providing secure, compliant cloud infrastructure for mission-critical financial applications. The treasury management functionality being supported (asset/liability management, trading, FX, etc.) requires sophisticated technical expertise, reinforcing DXC's positioning in high-value managed services.
For investors, this represents incremental evidence of DXC's execution in key growth markets. The company continues building its financial services credentials in emerging markets where digital banking adoption is accelerating. While a single implementation won't materially impact DXC's
This implementation highlights DXC's continued execution of its cloud-enabled service delivery model within highly regulated sectors. What makes this deployment particularly noteworthy is DXC's ability to satisfy the dual requirements of Islamic banking compliance and modern treasury management capabilities through its managed cloud infrastructure.
The complexity of supporting Finastra Kondor - a sophisticated treasury trading system handling asset/liability management, liquidity, and risk functions - demonstrates DXC's technical proficiency in hosting specialized financial applications. This isn't merely infrastructure provisioning; it's a comprehensive managed service requiring expertise in both financial systems and secure cloud operations.
Strategically, this deployment strengthens DXC's position in the Middle East financial services vertical, where financial institutions are increasingly prioritizing cloud migration to improve agility while maintaining regulatory compliance. By supporting Vision Bank's regulatory approval process, DXC has proven its infrastructure meets the stringent requirements of the Saudi Central Bank.
The ongoing nature of the managed services engagement indicates predictable recurring revenue, though likely modest relative to DXC's overall size. However, the reference value extends beyond immediate financial impact - success with Vision Bank positions DXC favorably for additional financial institution migrations throughout the region, particularly as Saudi Vision 2030 initiatives drive continued banking sector modernization and digitalization efforts.
This implementation validates DXC's capability to deliver specialized cloud solutions in complex regulatory environments, reinforcing its competitive position in high-compliance sectors.
With Finastra Kondor and managed services provided by DXC, the bank has enhanced its treasury trading and risk management capabilities, while offering modern, Sharia-compliant services
DUBAI, UAE, March 18, 2025 /PRNewswire/ -- Finastra today announced that the successful implementation of Finastra Kondor and cloud-based managed services provided by DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, enabled Vision Bank, a Sharia-compliant, digital bank in
"Our mission is to be a pioneer in the Saudi banking sector, relying on innovation and technology to provide seamless, Sharia-compliant banking solutions that meet our customers' needs," said Abdul Shakeel Aidaroos, CEO at Vision Bank. "To help us achieve this, we needed a robust treasury management system with cloud-based managed services that enable us to grow while mitigating risks. Finastra and DXC ensure that we can comply with current and upcoming regulations, drive business continuity and maximum availability, and scale the rollout of new products as needed. We are also contributing to the goals of the Financial Sector Development Program, one of the programs of Saudi Vision 2030."
Finastra Kondor is a best-of-breed treasury trading system that meets financial institutions' needs for sophisticated treasury functionality, while enabling growth and ensuring compliance. Renowned for its robust capabilities in supporting complex trading, risk management and operations, the solution is the backbone of numerous financial institutions, enabling them to navigate the intricate landscape of global markets with precision and agility. The successful implementation of the solution, alongside managed services provided by DXC, played a vital role in Vision Bank, formerly known as the Saudi Digital Bank, recently obtaining no objection from the Saudi Central Bank and launching the pilot phase of its banking operations.
"Vision Bank's growth ambitions and customer-centric ethos align closely to the values we hold at Finastra," said Wissam Khoury, EVP, Treasury & Capital Markets at Finastra. "The implementation of Kondor played a significant role in the bank's launch and digital transformation journey, providing the necessary agility to evolve with new demands and take advantage of the opportunities presented by
"DXC is proud to have partnered with Finastra and Vision Bank to successfully deliver Kondor as the bank's fully hosted and managed treasury system," said Anthony Hammond, Global Finastra Lead at DXC. "This collaboration underscores our commitment to driving innovation in financial technology, providing a secure, scalable and future-ready solution that enhances the bank's treasury operations."
About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world's top 50 banks. For more information, visit finastra.com
About Vision Bank
Vision Bank is a Saudi digital bank regulated by the Saudi Central Bank (SAMA). Vision Bank is reimagining banking in
About DXC
DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world's largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.
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FAQ
What services did DXC Technology provide to Vision Bank in Saudi Arabia?
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