Commercial Bank of Kuwait, one of the leading banks in Kuwait, has successfully implemented IRIS, the next generation switch and alternate delivery channel manager. With 53 branches conveniently placed throughout Kuwait, the Commercial Bank of Kuwait operates the second largest full service network in Kuwait. CBK is one of the forerunners in the region for having diversified e-banking products and capitalizing on it by delivering them through its alternate delivery channels.
It is noteworthy to mention that prior to current architecture; HPS was powering the ATM network and hosting Debit/Credit Cards of CBK. However, the bank was limited by the restrictions posed with the incumbent architecture, as the credit card and debit card products lacked specialization and were based on standard generic models. With the dynamics of both Debit and Credit Cards being dissimilar from operational as well as product life cycle perspective, CBK faced a major challenge at the hands of legacy system which had both high operations cost as well as limitations to expand product range and services. The architecture was not flexible which lead to a high time to roll out new service on each channel.
IRIS now not only drives ATM/CDM and host debit card, but also functions as a middleware and channel manager for efficient delivery channel operations and reduced budgets. The bank also takes advantage of the dispute resolution module for quick identification and removal of any disagreement issue of customer. CBK wanted to target a greater customer segment by introducing different Automated Deposit services, which the legacy system would not cater for.
The migration strategy was divided in clear and simple phases. The initial Phase catering to card migration to IRIS and driving of ATM, later stage involved shifting of credit cards to AFS and driving deposit machine as well. In the final stage all the delivery channels were to be connected to IRIS rather than host. In this migration, IRIS ensured that the customers should not face any sort of disruption during the cutover phase.
IRIS was selected because of its proven track record, flexibility and robustness of the solution and its unparalleled feature set. After a detailed review IRIS at CBK constitutes of ATM Switch, Card Management System, EMV Acquiring and Issuing, Cash Deposits, Bill Payments, ATM Monitoring, Host Interface, Call Center CRM, KNET and VISA interface, Channel Manager, Middleware, EJ, SMS integration, Remote Distribution and other modules as part of single platform.
The transition has brought flexibility for both debit and credit card products, as the respective teams can own and pursue tailored products. With Iris, CBL has embarked on a strategic path to enhance its market share through the delivery of greater customer service and increased coverage.
“CBK has a clear objective to be technologically innovative to achieve its business goals. We selected IRIS over the other options because of the flexibility and scalability the solution offers. The improved process efficiency and the ability to market new services quickly, helps CBK to increase its competitive edge in the region.”
