Vision Bank Launches with Finastra's Cloud-Based Islamic Treasury Solution

Finastra has announced the successful deployment of its Kondor treasury trading system, combined with cloud-based managed services from DXC Technology (NYSE: DXC), a Fortune 500 global technology leader. This collaboration has empowered Vision Bank, a fully Sharia-compliant digital bank in Saudi Arabia, to launch the pilot phase of its banking operations.

Enhancing Treasury and Risk Management Capabilities

With the implementation of Finastra Kondor, Vision Bank has significantly strengthened its capabilities across key financial areas, including asset and liability management, liquidity management, trading and investment, foreign exchange, capital adequacy, and reserve management. By leveraging advanced treasury functionalities, the bank is better positioned to manage risks and optimize its financial operations.

“Our mission is to be a pioneer in the Saudi banking sector, relying on innovation and technology to provide seamless, Sharia-compliant banking solutions that meet our customers’ needs,” said Abdul Shakeel Aidaroos, CEO of Vision Bank. “To help us achieve this, we needed a robust treasury management system with cloud-based managed services that enable us to grow while mitigating risks. Finastra and DXC ensure that we can comply with current and upcoming regulations, drive business continuity and maximum availability, and scale the rollout of new products as needed. We are also contributing to the goals of the Financial Sector Development Program, one of the programs of Saudi Vision 2030.”

Cloud-Based Innovation for a Seamless User Experience

Deploying the solution on the cloud aligns with Vision Bank’s broader strategy of delivering enhanced user experiences while adapting to the evolving demands of digital banking. This transition ensures greater scalability, operational efficiency, and regulatory compliance, all while maintaining a seamless and secure financial environment for customers.

Finastra Kondor: Powering the Future of Banking

Finastra Kondor is recognized as a leading treasury trading system, enabling financial institutions to manage complex trading, risk assessment, and operations with agility. Trusted by major banks worldwide, the solution provides the flexibility and precision needed to navigate global financial markets. The successful implementation of Kondor, supported by DXC’s managed services, played a critical role in Vision Bank securing a no-objection clearance from the Saudi Central Bank—a key milestone in its journey toward full-scale banking operations.

“Vision Bank’s growth ambitions and customer-centric ethos align closely to the values we hold at Finastra,” said Wissam Khoury, EVP, Treasury & Capital Markets at Finastra. “The implementation of Kondor played a significant role in the bank’s launch and digital transformation journey, providing the necessary agility to evolve with new demands and take advantage of the opportunities presented by Saudi Arabia’s financial services sector. Working alongside DXC, it has been a pleasure to help Vision Bank reach this milestone and we look forward to its ongoing success.”

“DXC is proud to have partnered with Finastra and Vision Bank to successfully deliver Kondor as the bank's fully hosted and managed treasury system,” said Anthony Hammond, Global Finastra Lead at DXC. “This collaboration underscores our commitment to driving innovation in financial technology, providing a secure, scalable and future-ready solution that enhances the bank’s treasury operations.”