Banking Operations

In the fast-paced world of banking, where every second counts, operational continuity and regulatory compliance are paramount. Banks rely heavily on gateway applications to facilitate secure financial transactions, manage accounts, and meet the stringent requirements of regulatory bodies like the Saudi Central Bank (SAMA). Any disruption in these systems can have serious consequences, from financial losses to reputational damage. This is where ONFTECH’s Premium Support becomes a game-changer.

 

The Role of Premium Support in Banking

Imagine this: It’s a quiet weekend evening, and most bank employees have signed off for the day. However, the digital financial world never sleeps. Requests for transactions continue to pour in, connecting customers to their banks and ensuring financial activities run smoothly. Suddenly, an issue arises—a critical error within the bank's system causes requests to fail in responding to SAMA, putting the institution at risk of regulatory penalties.

In a traditional setup, such an issue might go unnoticed until Monday morning, with severe consequences already in motion. But for this particular bank, the story had a different ending. Thanks to ONFTECH’s 24/7 Premium Support, an automated monitoring system flagged the issue immediately. Alerts were sent to the Premium Support team, who swiftly resolved the problem before it escalated. By the time the bank’s leadership became aware of the issue, it was already under control, and SAMA had no reason to intervene. This proactive approach not only avoided penalties but also ensured uninterrupted service for customers—a true testament to the power of Premium Support.

 

The Ramadan Eid Crisis: A Real-World Example of ONFTECH Premium Support in Action

In April 2024, during the holy month of Ramadan and the subsequent Eid celebrations, Saudi Arabia came to a festive standstill as families gathered to mark one of the year’s most significant holidays. It was a time when banking operations slowed down, with many employees on holiday and minimal staff available to oversee systems. Yet, in the middle of this celebration, SAMA introduced a critical update to the Tanfeeth system, a key regulatory framework for banks.

The update unexpectedly disrupted operational workflows across the banking sector. Transaction requests began to fail, and many banks struggled to adapt their systems to the sudden changes. For most, the holiday atmosphere quickly turned into a crisis, as delayed responses threatened compliance and customer trust.

One of ONFTECH’s client banks, however, experienced a different outcome. The bank’s ONFTECH Premium Support team immediately received alerts through automated monitoring systems. They quickly identified the root of the issue—a misalignment in the new service parameters—and worked through the night to implement adjustments. The Premium Support team collaborated directly with SAMA, ensuring the bank’s systems were reconfigured in real time to comply with the new requirements.

By the next morning, the bank’s systems were fully operational. There were no penalties, no disruptions for customers, and no need for emergency meetings. Instead of managing a crisis, the bank’s leadership could join in the Eid celebrations with confidence, knowing that ONFTECH Premium Support had safeguarded their operations.

 

What Makes Premium Support Different?

ONFTECH’s Premium Support is tailored to the unique demands of the banking sector, providing a level of reliability and protection that standard support simply cannot match. The differences lie in the details:

Proactive Monitoring and Response: With 24/7 monitoring, ONFTECH Premium Support can detect and address potential issues before they impact operations.

Comprehensive Coverage: While standard support operates within regular business hours, Premium Support extends its safety net to cover non-working hours, ensuring continuous coverage.

Regulatory Compliance Coordination: SAMA’s stringent requirements leave no room for error. Premium Support includes real-time coordination with regulatory bodies to prevent escalations and maintain compliance.

Operational Assistance: From handling emails to meeting service level agreements (SLAs), the Premium Support team takes on operational tasks during off-hours, offering peace of mind to bank management.

These features work together to provide a robust support framework, minimizing risks and enhancing operational efficiency.

 

A Closer Look: Standard vs. Premium Support

To better understand the value Premium Support brings, consider this comparison:

Standard Support provides assistance up to Level 2 during business hours but lacks coverage during non-working hours.

Premium Support not only matches the level of service offered during working hours but also extends coverage to non-working hours, ensuring round-the-clock support.

Moreover, Premium Support includes 24/7 manual and automated monitoring, real-time coordination with internal teams and regulators, and operational support to handle urgent tasks whenever needed. These advantages provide banks with an unmatched level of security and assurance.

 

Conclusion: Why Premium Support Matters

In the ever-evolving landscape of banking, downtime or delays are not just operational hiccups—they are threats to trust and compliance. ONFTECH’s Premium Support bridges the gap between standard services and the high demands of the industry. By prioritizing proactive measures and real-time solutions, it ensures that banks stay one step ahead of potential challenges.

For financial institutions, the choice is clear. Whether it’s avoiding a weekend crisis or navigating unexpected regulatory updates during holidays, ONFTECH Premium Support offers the reliability and responsiveness that modern banking demands. With this service, banks can focus on what they do best: serving their customers and driving financial innovation.

- Written by Ahmet Rasim Güral, Support Manager at ONFTECH