(Dubai 25 May, 2005) – Qatar National Bank (QNB) announced today that it has gone live with MISYS Equation Profitability Analysis, which will enable the bank to improve revenue streams and focus efforts and resources to better serve their best customers.
Retail banks are facing intense pressures to keep ahead of their competition and QNB has made a decision to develop a more sophisticated method of marketing its products, improving the way it targets its customers with the products they need. By using Misys Equation Profitability Analysis, it will be able to enhance its relationship management capabilities and build on the strong customer relationships it has as well as develop new ones more easily.
Through the improved view of which parts of the business are contributing most towards the bank’s overall profitability, it will now be able to direct resources more effectively and improve the already-active product development strategy. The world-class analysis tool from Misys will also allow more targeted and cost effective direct marketing campaigns to the bank’s growing customer base.
“The bank needed a system that could provide a multi-dimensional data mining tool such that bank income data can be captured automatically and reported upon across a range of products, customers and channels, whether it be any of the 70 ATMs owned by the bank, the branch network, or any other,” Mr. Marwan Marouf Mahmoud, AGM Information Technology at QNB said.
"We pride ourselves in the strength of our customer relationships and the service we provide. Misys has given the tools to improve this even further. The innovative banking system from Misys will enable us to have a clearer picture of how the various sectors of the bank are operating at any one time. We will be able to focus efforts to improve on the choice of products and additional services available to them. We are confident that we can satisfy our customers' needs even better through the use of Misys Equation Profitability Analysis," Mr. Mahmoud added.
Roy Froud, regional manager for Misys Retail Banking (Middle East), comments, “Misys Equation is closely integrated with Misys Trade Innovation and Misys Opics. One of Qatar National Bank's stated long term goals when it originally chose the Misys suite was to be able to provide sophisticated profitability analysis information to its management. This was achievable because of the tight integration between each element of the systems. Today, Qatar National Bank can look at both customer and product profitability across the retail, corporate and treasury business areas, consolidated or segmented.”
QNB, established in 1964, has by far the largest distribution network in Qatar with over 100,000 customers across 33 local branches. QNB has international branches in London and Paris.
This latest initiative builds on a long-standing relationship between Misys and the bank, which has been using the Misys Equation core banking system to increase customer revenues and drive efficiency throughout the business for several years. It can now act faster - for example extending or modifying marketing and pricing initiatives - thanks to early feedback from Misys Equation Profitability Analysis.
Through the Misys solution, information about the customers and all their transactions is analysed across many business areas within the bank, cutting the information by customer, branch, Account Officer, product, territory or indeed any other way.
This analysis can compare income streams across customer demographic categories, such as age, salary range, gender or type of employment to give the bank the best possible view of where it needs to focus its product development.
For further information, please contact:
Suzan Muhanna
Misys Retail Banking, Dubai office
T:+971 4 397 4447
E: suzan.muhanna@misys.com
Ali Abdul Ghani
QNB
Tel: 440 7470
E-mail: ali.ghani@qnb.com.qa.
About QNB
QNB was established in 1964 as the country’s first Qatari-owned commercial bank. The ownership structure is split between the Government of Qatar (50%) and the private sector (50%). QNB has grown to become the largest bank in Qatar controlling assets representing approximately 50% of the total banking system. QNB has the largest distribution network in the country with 32 local branches and offices, two international branches in London and Paris and 70 ATM's. QNB provides a full range of commercial banking activities for individuals, corporate institutions and government entities and the Bank’s scope of products, services and delivery channels across all disciplines is unrivalled.
QNB has the highest credit rating among Qatari banks from leading rating agencies including Moody’s, Fitch and Capital Intelligence. QNB is among the top 10 regional banks by Shareholders’ Equity, with a ranking of 7th among the largest GCC banks as per MEES survey in September 2004. Internationally, it is ranked as 77th among the Top 250 Emerging Market Banks as per Euromoney survey in August 2004. Additionally, QNB has been the recipient of the award “Best Bank in Qatar” from leading international financial publications including: The Banker, Euromoney and Global Finance.
Issued by QNB.
About Misys Retail Banking
Misys Retail Banking, part of Misys Banking Systems, provides packaged software to help retail banks improve business processes, develop new revenue streams, enhance customer relationships and reduce costs. For further information, visit www.misys.com/mys/banking/products/retail
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 90% of the world's top 50 banks (Source: The Banker, July 2004), with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries.
Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries. Through a wholly owned subsidiary, Sesame, it also provides business process outsourcing services to independent financial advisors (IFAs) in the UK. Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs more than 6,100 people internationally. For more information, visit
www.misys.com
