Developing Systems and Processes

SAIB’s strategic plan is the driver behind the development of the Bank’s systems and processes. The strategic plan builds on the achievements of the strategic plan that was in effect for 2010-2014 and was developed with markets, financial targets, human resources, innovation, and corporate sustainability in mind. The values, ethics, and policies of the Bank and the sustainability pillar of Takleef (responsibility) are also an integral part of the development of the strategic plan, just as they are in the Bank’s activities.

The Bank regularly reviews its policies, systems, and procedures to determine whether they are adequate and effective within the current operating environment and relevant to its business needs.

SAIB’s competitive edge is derived from its core strategy of digitalization and the Bank is leveraging cutting-edge technology to do so. SAIB uses technology to introduce value-added products and services to the market that are aligned with its business objectives. The customer experience is enhanced through new technologies, channels, services, and increased automation to maximize efficiency and convenience; these are the prime objectives of the Bank’s systems and processes.

The security of systems and information is critical in an environment where digitalized data and IT systems play a vital role and attract unscrupulous parties. With this in mind, stringent controls are placed on the access and usage of hardware and software. The Bank remains vigilant to ensure that its safeguards are sufficient to address emerging threats. As the field of IT is one that constantly evolves, the Bank stays up to date on developments in the domain, particularly those that affect the banking industry. Where it is applicable, the Bank studies and implements the latest developments in ways that add value to its customers or improves internal processes.

All IT procedures and projects are carried out with adherence to the Bank’s IT policies and procedures which follow internationally accepted best practices such as ISO 20000, project management frameworks, IT architecture standards, and cybersecurity standards.

The ability to access accurate information that delivers timely insights is crucial to facilitate the activities of Management and the decision-making of the Bank. The Sustainability Management Dashboard System (SDMS) accomplishes exactly this; this innovative application collects, stores, analyzes, and delivers information in an effective format to supplement the decision-making process. SDMS collects information on a monthly or quarterly basis and facilitates automated calculations and visualisations of performance.

SDMS enables key decision-makers to regularly track and report performance against the Bank’s sustainability goals. The system allows for better presentation of information, both internally and externally, and enables profitability through cost efficiency up to the branch level. All departments are stakeholders in the SDMS, with the key stakeholders being the CEO, the Sustainability Committee, and the Corporate Communications Department.