RIYADH, Saudi Arabia, May 26, 2015 /PRNewswire/ -- Al Rajhi Bank, one of the largest Islamic banks in the world, has selected Diebold's technology to migrate transactions from the traditional teller line to the self-service channel and transform the in-branch banking experience for its customers. In Saudi Arabia, the vast majority of transactions are performed with cash. Approximately 70 percent of all banking transactions are performed inside the bank branch, which leads to long teller queues. The addition of 300 deposit automation-enabled automated teller machines (ATMs) across its entire network will allow Al Rajhi Bank to reduce transaction operating expenses by up to 55 percent and drive greater customer satisfaction.
"Diebold's branch transformation expertise and technology have allowed us to decrease wait times in our retail branches which typically have long queues to perform routine transactions with a teller," said Mohammed Al Garni, head of direct banking department, Al Rajhi Bank. "As our customers begin to perform more transactions on their own, our staff will have more time to assist with more complex needs and build deeper relationships."
In addition to the new technology, Al Rajhi is also renovating its branches to enhance the overall look and feel and to make the ATMs more appealing to its customers, who have traditionally used the teller line to perform most transactions. In the future, Al Rajhi plans to implement even more advanced technology such as customized kiosks that will enable its customers, through biometric access, to perform transactions such as opening new accounts, printing and encoding new cards, checkbook and statement printing.
"We are excited to help Al Rajhi Bank redefine the ideal branch experience for its customers," said Bassem Bouzid, Diebold senior vice president and managing director, Europe, Middle East and Africa. "Our extensive branch automation expertise will benefit customers as we look to further expand our presence in the important Middle East markets."
About Al Rajhi Bank Founded in 1957, Al Rajhi Bank is a leading International banking group with total assets of SAR 267 billion (US 71.2 bn), a market capital of over SAR 15 Billion (US$4 billion), employing 9,000 associates. With over 50 years of experience in banking and trading activities, the various individual establishments under the Al Rajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1987 and it was in this year that the bank was also established as a Saudi share holding company. With an established base in Riyadh, Saudi Arabia, Al Rajhi Bank has a vast network of over 630 branches (including remittance centers), 4,030 ATM's, 37,300 POS units.
About Diebold Diebold, Incorporated (NYSE: DBD) is a global leader in providing innovative self-service technology, security systems and related services. Diebold has approximately 16,000 employees worldwide and is headquartered near Canton, Ohio, USA. Visit Diebold at www.diebold.com.