Finastra Loan IQ implementation at QNB
Customer
Founded in 1964, the Qatar Nation Bank Q.P.S.C currently has subsidiaries and associates in 31 countries spread across 3 continents. It is the biggest bank in Qatar and the largest financial institution in the Middle East and African region with its headquarters in Doha.
Challenge
QNB aimed to reduce their manual processes by automating lending solutions. They wanted automated lending solutions for their back-office operations and services. It was crucial for the bank to resolve these challenges in order to achieve more efficient geographical and institutional sharing of risk, tap global liquidity, and manage their capital allocation.
Our Involvement
Fusion Loan IQ is Finastra’s solution for commercial lending, powering 71% of all syndicated loans around the world. It alleviates the high costs of system and process redundancy within commercial lending operations, as well as increasing transparency, improving risk management and simplifying entry into new markets or business lines. QNB partnered with Finastra to find the perfect solution for their strategic lending processes. FINEXCORE, under the guidance of Sudhakar Vemuri, sought to implement solution designing, process re-engineering and running business process alignment (BPA) as a solution to their requirements.
Result
The plan worked out perfectly for QNB. The bank now uses Loan IQ in the best possible way and FINEXCORE is still partnered with QNB on multiple initiatives for making best use of the solution while adapting to never ending changes in market trends and regulations.
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