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IBS Journal January 2018 Key modules upgraded by Path Solutions


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Accounting Alert Engine ECC Interface Internet Banking Fixed Assets Facility


Financial Template Report Islamic Invest Integration Manger APIs Islamic Profit Calculation


One of the main challenges faced by Al Baraka Bank Sudan was during the initial phase of the implementation, mainly with regards to the finalization of requirements with Path Solutions. A key reason for this was meeting the regulatory compliance and reporting standards. Being a subsidiary of the Bahrain-based Al Baraka Banking Group, the Sudanese subsidiary’s system had to be customized to meet the regulations dictated by both Bahrain as well as the Central Bank of Sudan. This was especially the case in critical components such as trade finance and credit. Besides this, the bank also needed some customization to the system which necessitated a slight revision in timelines to the overall project implementation.


While the execution of the implementation was fairly smooth, the bank encountered a few challenges related to the implementation and the post go-live phases. One of them was the migration of several custom client reports to Java, which was done in parallel with the other independent tasks.


Another issue was post go-live, when the bank faced performance issues due to high load, that was not encountered in the testing phases. Nevertheless, this issue was resolved with rectifications made to the hardware as well as code tuning, and a team of Path consultants available onsite to aid expedited support, that further improved the overall performance of the system.


Al Baraka was quite contented with the overall implementation. With the old system, the bank had to work with 27 different servers at each of its branches. The new system being a centralized model brought in many advantages such as easier management of hardware as well as processes, easier bug fixing and patch updates, and defect corrections that further complemented the core processes. Built entirely on Java platform, the new system enabled improved operational performance.


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Batch processing Customer Service Management Report Designer Trade Finance CSM Admin System Administration Store And Forward Engine SAFE Tools SWIFT


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It also provided the latest integrations and interfaces that Path Solutions provided, which were not supported by the older version, such as Microsoft Business Intelligence, personnel and payroll system and the latest internet banking solution.


Post go-live, Al Baraka reported growth in assets and profits of about 16%, and a growth in liabilities of about 34.6%, that has resulted in overall cost savings of nearly $500,000.


The bank also witnessed significant improvement in performance and efficiency of batch processes. One example is the profit calculation duration that decreased from over 2 hours to the range of 10-15 minutes. Furthermore, several functional as well as technical enhancements that emanated from the latest release, expanded the capability of the bank in its service and operations. Owing to these, ever since Al Baraka Bank Sudan began working on the new system, it has witnessed an increase in customer base of approximately 10%-15%. Also, following the successful implementation, Al Baraka Sudan’s Management has reportedly envisioned technology plans to make the bank further ‘tech-savvy’, and are in discussions with Path Solutions about this strategy.


KEY FACTS


Bank: Al Baraka Bank Sudan Assets: US$ 2.08 billion (2016) Location: 27 branches across the country Supplier: Path Solutions Solution implemented: iMAL R14.0 Modules: Islamic core banking suite Timeline: 1 year


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