Digital Bank Development
Strategic Planning & Advisory – Platform Methodology
- Conducted benchmarking against regional and global Islamic digital banks, identifying competitors' product features, Shariah-compliant structures, service quality, pricing, and innovations.
Product Development Prioritization
- Identified and prioritized new product development initiatives based on competitive gaps, business impact, and resource requirements.
- Provided a phased implementation plan over 3-5 years, categorizing quick wins and long-term goals.
Strategic Alignment with Business Objectives
- Aligned the digital banking strategy with the bank's long-term corporate vision and ROI objectives.
- Highlighted ways to enhance the bank’s market positioning and revenue growth using digital-first strategies.
Market Analysis and SWOT
- Analyzed major regional players, market trends, and emerging customer demands.
- Conducted SWOT analysis to identify existing digital gaps, technological weaknesses, and growth opportunities in underserved markets.
Process Mapping and Re-Engineering
- Conducted an in-depth analysis of existing workflows, identifying bottlenecks in:
- Customer onboarding and loan approvals.
- Back-office operations and transaction processing.
Digital Process Automation
- Recommended automation using AI and RPA:
- Loan and credit approvals: AI-driven decision-making tools to expedite approvals.
- Customer query resolution: AI-powered chatbots for 24/7 support.
- Fraud monitoring: Real-time fraud detection tools integrated with transaction systems.
Maturity Model Assessment
- Evaluated the bank's current digital state, identifying focus areas to transition from Beginner to Advanced digital maturity.
Risk Identification and Mitigation
- Developed a risk management strategy covering technological risks (system failures), cybersecurity threats, and compliance issues.
- Proposed multi-layered cybersecurity protocols:
- Data encryption, multi-factor authentication (MFA), and real-time threat detection.
- Recommended system redundancies and failovers to minimize downtime.
- Designed an automated compliance framework for regulatory adherence, ensuring seamless integration of Shariah-compliant checks.
Risk Monitoring and Reporting:
- Integrated real-time dashboards to monitor risk metrics and flag deviations.
- Developed protocols for proactive risk reporting to senior management for timely intervention.
Business Continuity Management (BCM) Framework
Framework Development – Platform Methodology
- Designed a governance structure outlining roles, responsibilities, and accountability to ensure effective BCM implementation.
- Developed BCM policies aligned with ISO 22301 and UAE regulatory standards, tailored to the Dubai branch’s operations.
Business Impact Analysis (BIA)
- Conducted detailed interviews and workshops with key stakeholders to identify critical business functions, interdependencies, and points of failure.
- Defined Recovery Time Objectives (RTO) and Recovery Point Objectives (RPO) for essential business operations at the Dubai branch.
Risk Assessment
- Performed a structured risk assessment to identify vulnerabilities specific to physical, cyber, and operational threats.
- Prioritized risks using a risk matrix based on likelihood and business impact, with a focus on Dubai’s operational environment.
Integration with Existing Measures
- Evaluated the bank's existing Disaster Recovery Plans (DRPs) and integrated them into the broader BCM framework.
- Ensured compatibility between BCM measures and the Dubai branch’s ongoing business continuity initiatives.
Training and Awareness
- Developed and delivered tailored training programs for BCM teams at the Dubai branch.
- Conducted awareness sessions for all employees to foster a resilience culture and ensure organizational preparedness.
Testing and Simulation
- Simulated disruption scenarios to test the effectiveness of the BCM plans, including:
- Recovery of critical operations specific to wholesale banking and back-office processes.
- Emergency response coordination across departments.
- Refined action plans based on simulation outcomes to enhance readiness for real-world disruptions.