Shariah compliant mortgage provider Amlak is to deploy FinnOne retail products from Nucleus Software, allowing it to provide greater efficiency to all of its clients.
Amlak will implement the FinnOne Customer Acquisition System (CAS) and FinnOne Collections Modules.
The new modules should help to enhance the systems supporting Amlak's finance approval processing mechanism.
Arif Alharmi, CEO of Amlak Finance, said: "Streamlining our approval processing system with the Nucleus software, FinnOne, will not only make our existing system more effective, but will also quicken the turnaround time for the application evaluation. Our home finance clients will benefit from this faster approvals procedure.
He added: "As this system is used throughout the globe, we are pleased to be achieving international standards in application processing."
Amlak appointed Cedar Management Consulting to help select the new system. Cedar will also help in project management for the implementation, to ensure alignment with international best practices and with Amlak's business strategy.
Amlak's Alharmi continued: "Implementing this world-class software will translate into a value-added benefit to our clients when they experience a quick turnaround time in the processing of their application. Amlak continually strives to offer the best services to its customers, through investing time and resources in market-leading technologies such as the Nucleus software."
The lender has also appointed Cedar to draw up and implement a new growth plan. Amlak recently launched operations in Egypt, Jordan and Saudi Arabia, and its executives have said it is looking at opportunities in Qatar and Bahrain.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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