Emirates Islamic Bank live with new core banking system

Emirates Islamic Bank, a Shari’ah-compliant banking subsidiary of Emirates NBD, has migrated to a new core banking platform, Banking Technology understands. The new system is Infosys’ Finacle. The project has been underway since 2014, and is Infosys’ first Islamic site for the Finacle core platform. India-based payments and tech transformation specialist Evolvus Solutions assisted with the implementation, Banking Technology understands. The bank’s parent, Emirates NBD Group, is already a major user Infosys’ Finacle at home and across its international locations. The group is planning to launch a new digital bank targeted at millennials. The initiative is part of Emirates NBD’s three-year AED 500 million ($136 million) strategy to improve its processes, products and services. Read more: bankingtech.com