The $84.3 billion-asset Dubai Islamic Bank has installed using transaction management and reconciliation software from Fiserv Inc. of Brookfield, Wis.
The installation was part of a recent network expansion project for Dubai Islamic Bank, which is using the technology to centralize its reconciliation and exception management activities, Fiserv said Monday.
The software, which was installed in less than 90 days, will foster better risk management practices and improve visibility in the bank's transaction processing systems, according to Fiserv.
"Dubai Islamic Bank sought to eliminate its disparate reconciliation and exception management systems and processes by consolidating all activity on to a single processing hub," Elizabeth Elkins, Fiserv's general manager for operational risk management, said in a press release. The software will "accommodate the bank's growing reconciliation and reporting requirements."