Project Approvals at Warp Speed
When you are continuously transforming the world’s largest Islamic bank you need world class solutions to support you along the way.
Founded in 1957, Al Rajhi Bank is one of the largest banks in the world with total assets of SR 340 billion (US$ 80 billion) and an employee base of around 12,000 associates over four countries. It operates a network of more than 570 branches and around 5,000 ATMs and kiosks. It also boasts the largest customer base of any bank in the Kingdom of Saudi Arabia.
The Challenge
Al Rajhi was approving around 200-250 projects a year, and considering a further 100 or so without any effective oversight. Projects were proposed, reviewed, approved, and managed using a combination of spreadsheets and office productivity-based templates. There was no central tracking or management and stakeholders and leadership found it impossible to track business case information or know whether actual performance was in line with projections.
“I’m delighted to see how Clarity has played such an important role in the bank’s digital transformation journey. It just shows what impact this type of technology can have and in a relatively short space of time.”
Jamie Wallace, MEA Business Development Director at Ignite Technology
The Solution
Al Rajhi chose Clarity from Broadcom® and selected Broadcom tier one partner Ignite Technology to assist with the implementation. In just five months, Al Rajhi and Ignite were able to not only implement an end-to-end automated solution, but also to load historic data into the Clarity solution. All employees up to and including the CEO now use Clarity and their approach to projects could not be more different.
The Benefits
The benefits for Al Rajhi have been dramatic. Significant reductions in the time taken for virtually every step in the review and approval process for projects and access to complete information in real time for the first time ever. Leadership is now able to make better decisions in less time while staff are better able to deliver value. At the same time, resources—both financial and staff—are better utilised to improve the return on every project investment.
Download the Al Rajhi case study: Project approvals at warp speed
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