BSFi subsidiary migrates critical business systems to OCI to simplify operational management, leverage Cloud automation and support rapid business growth in alignment with Kingdom’s data sovereignty requirements.
Oracle has announced that Saudi Arabia based digital finance company J-B is using Oracle Cloud Infrastructure (OCI) to power its mission critical financial and transactional systems.
The implementation supports J-B’s multi-year strategic initiative to diversify its digital finance service portfolio, enter new market segments and quickly scale its business in Saudi Arabia.
Launched in 2023, J-B is a leading provider of financial solutions, car leasing and other Shariah-compliant finance services for individuals and businesses in the Kingdom.
J-B has migrated its financial transaction, loan activation, credit score computation and customer insights systems from its parent company’s on-premises data centre to OCI in less than seven months, establishing an independent operation running fully on the cloud.
The Oracle platform provides J-B with flexible, secure and high-performance computing resources to modernize, automate and scale these critical systems at a time of significant growth for the business. The deployment will be hosted on Oracle’s Cloud Region in Jeddah, helping J-B comply with national data residency and sovereignty regulations.
“At J-B, our strategy is to capitalise on the enormous potential of the Saudi financial industry to offer modern digital finance services. Our goal is to fully digitalize our customer services to offer simple, fast, easily accessible and secure solutions,” said Khaled S. Salem, Chief Digital Information Officer, J-B.
“OCI is a modern and proven cloud platform that strongly supports our objective of becoming the top digital finance provider in the Kingdom and further growing and diversifying our business. We are leveraging the Artificial Intelligence (AI) and machine learning capabilities of OCI to capitalise on new market insights, offer an unmatched customer experience, and scale quickly as per market requirements.”
J-B has already launched new financial products on the OCI platform, which has also enabled the company to increase operational efficiency and significantly improve system performance across core customer applications. OCI also provides a strong foundation for digital innovation at J-B, enabling internal users to flexibly configure and set up development and test environments to support service improvements.
“With one of the highest smartphone penetration rates in the world, offering an easy and secure access to digital solutions across all essential services is vital to service customers in Saudi Arabia and drive business growth. Driven by new competition, changing business models, mounting regulation, as well as disruptive technologies, financial services leaders are using the cloud to increase profitability and improve customer experience. With this OCI deployment, J-B is geared for a new growth phase by offering futuristic and hyper personalised financial solutions to Saudi consumers, and setting new industry benchmarks,” said Fahad AlTurief, vice president – Cloud, Saudi Arabia, Levant and North Africa Markets, Oracle.
