SS&C Technologies Holdings Inc

Management Reports • Aug 15, 2023

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RNS Number : 2665J

SS&C Technologies Hldgs Inc

15 August 2023

Riyad Bank Chooses SS&C Blue Prism to Boost Customer Experience and Operational Excellence

Saudi Arabia's Riyad Bank accelerates operational transformation by automating 200 processes with SS&C Blue Prism intelligent automation platform

WINDSOR, CT, August 15, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced Riyad Bank, one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East, has successfully transitioned its automation program to SS&C Blue Prism. The bank sought to upgrade its automation solution to support three main business objectives: customer experience, innovation and performance culture.

"We've been able to transform operations at great scale in a very short timeframe due to the unrivalled support from SS&C Blue Prism and our capabilities in Riyad Bank," said Abdulrahman Al-Huthail, EVP Operations, Riyad Bank. "With greater automation infrastructure, pipeline and delivery, Riyad Bank's workforce is now fully invested in intelligent automation due to the benefits it has seen over the past six months. We are excited about what transformational results we can achieve next."

So far, the Bank has implemented automation across eight areas of operations, including corporate payment operations, ATM and cash management, consumer finance operations, retail operations, governance, and operational excellence.

Throughout the six months, SS&C Blue Prism digital workers have:

·      Handled up to 200 processes across eight areas of operations.

·      Returned more than 150,000 hours to the business, providing time for more innovation, an opportunity to better serve its customers, and a better working environment for its employees.

Among improvements, Riyad Bank is benefitting from intelligent automation in the end-of-day transaction handling for bank tellers. Previously, bank tellers were preparing the customers transfer of check and cash deposit forms manually. The manual process meant more time and resources had to be allocated to complete these transactions by end-of-day. The automation team worked with the business unit on nine processes, which reduced processing time from 240 seconds to 45 seconds (81%) per document. The automation improved working conditions for team members and enabled them to concentrate on higher-value tasks.

"The results Riyad Bank has achieved in just six months demonstrate the significant transformational value automation can bring when you have right culture and support in place," said Jerry Hubbard, General Manager, EMEA, SS&C Blue Prism. "Alongside SS&C Blue Prism's trusted partner, we're excited to see how Riyad Bank continues to take its organization forward while benefitting its employees and customers."

More than 2,800 customers worldwide run their operations on SS&C Blue Prism, digitizing operations across financial services, insurance, health and pharma, banking, and more.

About Riyad Bank

Riyad Bank is one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East. Established in 1957, with a paid-up capital of SAR 30 billion. The Bank's professional and dedicated staff base has mainly driven its success throughout the years. With more than 5,900 employees, Riyad Bank takes pride in being among the Saudi organizations with the highest national employment rate of 95%. 28% of them are women.

Riyad Bank provides a comprehensive range of products and services fully compliant with the Islamic Sharia' to meet the needs of both retail and corporate customers, including small and medium-size enterprises. Riyad Bank offers innovative and remarkable financing solutions through a network of 340 licensed branches, and more than 138,511 POS, in addition to more than 2,242 ATMs well distributed in strategic & carefully selected locations around the Kingdom.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

SOURCE: SS&C

Additional information about

SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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For more information

Patrick Pedonti | Chief

Financial Officer, SS&C

Technologies

Tel: +1-860-298-4738 | E-mail:

[email protected]

Justine Stone | Investor

Relations, SS&C Technologies

Tel: +1- 212-367-4705 | E-mail:

[email protected]

Media Contacts

Jess Stefanowicz

PAN Communications

Tel: (617) 502-4375

E-mail: [email protected]

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