CUSTOMER STORIES
Implementing a Digital Lending Solution for Middle East's largest bank
Key Implementation Strategies for QNB's Successful Digital Lending Transformations
Background
Founded in 1964 and headquartered in Doha, Qatar, Qatar National Bank (QNB) is the largest financial institution in the Middle East and Africa (MEA), with a presence in 28 countries across three continents.
As part of its commitment to innovation, QNB launched a greenfield project to digitize its manual credit processing operations. Facing tight timelines, budget constraints, and prior setbacks with software rollouts, the bank prioritized strategic implementation choices. By partnering with Axe Finance, QNB successfully streamlined its complex Corporate Credit lifecycle, advancing its digital transformation journey.
Key Challenges
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Transitioning from Manual Credit Processing
Moving from a paper-based system to a fully digital platform as part of a greenfield implementation.
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Navigating Complexity and Constraints
Managing a complex Corporate Credit lifecycle while adhering to tight project timelines and budget limitations.
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Overcoming Previous Implementation Setbacks
Addressing challenges and rollbacks experienced in earlier software projects, making the implementation choices phase critical.
How Axe Finance Effectively Tackled These Challenges
AIM
Approach
Approach
Managed expectations effectively
Early
Delivery
Delivery
Phase 1 completed ahead
Strong
Leadership
Leadership
Continuous sponsors' involvement
Strong Foundation in Phase One
The successful completion of the first phase sets a clear and confident direction for the entire project, establishing a strong foundation that ensures smooth execution in subsequent phases.
Proactive Risk Management
By actively looking for frailties in the project plan and addressing them early, the team ensures potential risks are mitigated before they can affect timelines or outcomes. This proactive approach helps avoid setbacks and surprises.
Active Project Ownership & Stakeholder Communication
The Project Owner’s active involvement goes beyond just attending Steering Committee meetings; they are engaged at all levels, ensuring that the project stays on track and any obstacles are promptly addressed.
Clear, transparent communication with all stakeholders, from project teams to senior management, keeps everyone informed and aligned, leading to smoother decision-making and fewer misunderstandings.
Thorough Scoping and Planning
Investing in detailed scoping from the outset ensures that all aspects of the project are well-defined and understood, minimizing confusion and setting clear expectations for all stakeholders.
Customized Solutions for Complexity
Testimonials
We chose the right partner. I say this unashamedly because it’s incredibly true. We did a lot of due diligence before choosing Axe Finance.
Huw Ifan, Head of Strategic Risk Management at Qatar National Bank said:
We chose the right partner. I say this unashamedly because it’s incredibly true. We did a lot of due diligence before choosing Axe Finance. We examined the track record, did reference calls and visits and we were very careful in terms of the motivation of the vendor and how important this project was to them.
