Al Baraka Bank Sudan (BBS) has selected Path Solutions, a Sharia-compliant fintech provider, for leveraging its new Business Intelligence (BI) solution.
Dubbed iMAL*BI solution, the new data-driven solution is a part of Path Intelligence platform, which allows banks to harness data and analyse it intelligently.
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The BI solution empowers banks to create ad-hoc dashboards, in-memory, to show graphical representations of their collected data.
The dashboards cover data and analytics-related tasks in operational areas like financial accounting, retail banking, corporate banking, investments, trade finance and limits.
The visual representation of the data enables the banks to make smarter, faster, and more reliable decisions, thus improving overall operational efficiency.
It helps transform the bank’s business into becoming more customer-centric and analytically focused.
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By GlobalDataPath Solutions group chairman and CEO Mohammed Kateeb said: “The Mountains of data that financial institutions and their customers produce is colossal.
“By aggregating, standardizing, and analyzing that data and identifying patterns, they can better understand their customers, better forecast revenue growth, and better protect themselves against business pitfalls.
“As such, we are delighted to have completed the successful implementation of iMAL*BI using Microsoft Power BI at BBS.”
BBS successfully deployed the new solution in March 2020.
The bank gained access to an end-to-end data warehousing solution, an automated ETL process and a progressive data model included in the new solution.
BBS general manager Elrasheed Ali said: “The endless hours that Path Solutions’ project team have spent working on this project, and the professionalism they have portrayed has really impressed our entire team immensely and we deem ourselves honoured to have them as our project sponsor.”
