Blocking/Unblocking automation for a leading Islamic Bank in Bahrain
10xDS streamlined the Blocking/Unblocking process mandated by CBB for yet another bank in Bahrain. Blocking/Unblocking (BUB) is an ideal candidate for automation due to its high volume, strict adherence to SLA set by CBB, highly definable and standardized process, and the requirement of many personnel for complying to CBB standards. The process was successfully automated considering all the nine different business scenarios that existed. Automation is envisaged to help the bank to avoid hefty penalties imposed by the Central Bank for noncompliance. The Central Bank of Bahrain (CBB), on 23rd Dec 2020, made it mandatory for Banks in Bahrain to comply with the instructions pertaining to Blocking/Unblocking of customer’s accounts, with a strict timeline of one day to process the requests. The Block/Unblock account request process is a high impact process involving manual data inputs by staff members who should follow strict timelines and adherence criteria. Recently, the CBB has requested banks to maintain near real-time turnaround time for blocking and unblocking response and operate the process 24/7, making the adherence even more difficult for the Banks.