Damman, KSA –April 06, 2017: Gulf Lifting Financial Leasing Company (GLFL), a subsidiary of Kanoo Group of Companies, recently implemented 3i Infotech's Kastle® Universal Lending Solution (Kastle® ULS) and integrated financial suite to streamline its business processes as well as automate the end to end operations right from origination to collection.
The application tackled a key challenge of GLFL, which was to get into the market and be Saudi Arabian Monetary Authority (SAMA) compliant before March 2017 to launch their new business within a short span of time. The project was completed in a record time of 11 days, delivering an environment conducive for better productivity and effective processes.
Kastle® ULS and integrated financial suite meets the best practices of the industry and enables GLFL to be compliant with Saudi Arabian Monetary Authority (SAMA) regulatory guidelines. With this implementation, GLFL will be able to efficiently manage on-boarding and profiling of new customers, limit management and credit analysis along with handling its enterprise financial accounting and reporting requirements. Kastle® ULS and integrated financial suite provides system generated purchase order, asset delivery management, business partner management, servicing of credit limit covering major financial events and collection services of corporate clients as per regulations.
Mr. Anan Hammodah, CEO, Gulf Lifting and Finance Leasing Company said, “I am writing to express my sincere admiration for your support to Gulf Lifting Financial Leasing Company. We greatly appreciate your efficiency and are extremely happy with the quality and assistance you have provided to achieve completion of a critical milestone in our Kastle® ULS and integrated financial suite implementation project on time. Having you around assisted us towards a smooth infrastructure setup. Keep up the good work.”
'Kastle® ULS is an enterprise-wide lending solution that automates the entire financing life cycle from customer acquisition to recovery across Retail & Corporate segments. The application supports business lines across commercial finance, consumer finance, home equity, project financing, Islamic finance and micro financing. We are very happy to partner with GLFL in their IT transformation and are keen to help them grow their business with Kastle® ULS and other services offerings. This implementation further strengthens our position as a trusted solution provider in the Kingdom of Saudi Arabia.' says Mr. Krish N, Executive Vice President and Global Business Head – Banking.