RAKBANK
RAKBANK Building Sheikh Mohammed Bin Zayed Rd,
Ras Al Khaimah, 5300,
United Arab Emirates
Ras Al Khaimah, 5300,
United Arab Emirates
971 4 213 0000
Banking and Financial Services
RAKBANK Technographics
RAKBANK Software Purchases and Digital Transformation Initiatives
Discover the latest software purchases and digital transformation initiatives being undertaken by RAKBANK and its business and technology executives. Each quarter our research team identifies on-prem and cloud applications that are being used by the 4000 RAKBANK employees from the public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources.
During our research, we have identified that RAKBANK has purchased the following applications: Oracle Cloud ERP for ERP Financial in 2023, Oracle Cloud HCM for Core HR in 2023, Infosys Finacle for Core Banking in 2012 and the related IT decision-makers and key stakeholders.
Our database provides customer insight and contextual information on which enterprise applications and software systems RAKBANK is running and its propensity to invest more and deepen its relationship with Oracle , Apple , Infosys or identify new suppliers as part of their overall Digital and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
We have been analyzing RAKBANK revenues, which have grown to $1.20 billion in 2024, plus its IT budget and roadmap, cloud software purchases, aggregating massive amounts of data points that form the basis of our forecast assumptions for RAKBANK intention to invest in emerging technologies such as AI, Machine Learning, IoT, Blockchain, Autonomous Database or in cloud-based ERP, HCM, CRM, EPM, Procurement or Treasury applications.
RAKBANK Data, Technology Stack, and Enterprise Applications
ERP Financial Management
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Oracle | Legacy | Oracle Cloud ERP | ERP Financial | ERP Financial Management | n/a | 2023 | 2024 |
In 2023, RAKBANK implemented Oracle Cloud ERP in the ERP Financial category as part of an adoption of Oracle Fusion Cloud Applications Suite to consolidate core business functions. The deployment focused on unifying finance, human resources, and supply chain processes on a single data platform to support the bank’s stated growth and scalability objectives.
The implementation used Oracle Fusion Cloud Enterprise Resource Planning to consolidate financial data, accelerate financial reporting, and strengthen financial controls, while Oracle Fusion Cloud Human Capital Management centralized HR operations to simplify processes and surface workforce insights. Oracle Fusion Cloud Supply Chain and Manufacturing was provisioned to optimize supply chain planning and procurement workflows, aligning procurement and vendor management with financial controls and planning.
Architecturally the program centers on a single data platform provided by Oracle Fusion Cloud Applications Suite, enabling standardized master data and process orchestration across finance, HR, and supply chain domains. The solution leverages embedded AI capabilities within the Oracle applications to support decision-making and to automate routine transactional activities, while connecting operational data across Personal, Business, and Wholesale banking business functions.
Governance and process changes emphasized consolidation of transactional processes, elimination of manual reconciliations, and centralized HR and procurement workflows to create a single source of truth for reporting and compliance. Expected outcomes articulated by RAKBANK include optimized costs, improved operational efficiency, accelerated reporting cycles, better workforce and financial insights, and an improved customer service posture driven by more consistent processes and data.
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ERP Financial | ERP Financial Management |
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2023 | 2024 |
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Payment Processing | ERP Financial Management |
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2017 | 2017 |
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HCM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Oracle | Legacy | Oracle Cloud HCM | Core HR | HCM | n/a | 2023 | 2024 |
In 2023, RAKBANK implemented Oracle Cloud HCM as part of a broader adoption of the Oracle Fusion Cloud Applications Suite to centralize HR on a unified cloud platform. Oracle Cloud HCM is being deployed to consolidate Core HR processes, centralize workforce data, and simplify HR operations across the bank’s business segments.
The implementation emphasizes Core HR capabilities, including centralized employee records, HR operations automation, workforce insight generation, and employee experience workflows. Configuration work focused on standardizing data models and embedding application-level AI features from the Oracle suite to improve workforce reporting and decision support.
Oracle Cloud HCM is integrated on a single data platform alongside Oracle Fusion Cloud Enterprise Resource Planning and Oracle Fusion Cloud Supply Chain within the same suite, enabling consolidated financial reporting and aligned supply chain and procurement workflows. The deployment follows a cloud-native architecture that provides a single source of truth for HR, finance, and supply chain data and supports cross-functional transactional and analytical processes.
Governance and process changes target standardized HR processes, tighter control of workforce data, and simplified handoffs between HR, finance, and procurement functions to support RAKBANK’s growth strategy. The stated outcomes for the program include optimized costs, enhanced efficiency, sharper decision-making, and increased productivity as the bank scales its operations.
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ERP Services and Operations
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Infosys | Legacy | Infosys Finacle | Core Banking | ERP Services and Operations | n/a | 2012 | 2012 |
In 2012, RAKBANK implemented Infosys Finacle as its Core Banking solution. More than 700,000 customer accounts were moved to Infosys Finacle since June 2012, and the core banking suite was installed across all 36 RAKBANK branches.
The deployment centered on Infosys Finacle's Enterprise Customer Information File, providing a single-point data source on customers and their transaction patterns to support customer information management and transaction processing workflows. The implementation automated core functions in the bank's data centres, aiming to reduce manual errors and to streamline operational processes, and was positioned to reduce time to market for new products.
Infosys Finacle was integrated with the bank's broader application landscape, enabling RAKBANK to integrate more than 35 other systems and to replace redundant ones, while operating in tandem with the Finacle e-banking solution. The e-banking suite continued to support more than 325,000 accounts and facilitated an average of 250,000 transactions daily across RAKBANK branches, maintaining online transaction continuity alongside the new core platform.
Governance and process changes focused on streamlining branch workflows and centralizing customer data to improve productivity across branches. Operational coverage emphasized branch operations and data centre automation, aligning Core Banking capabilities with retail banking functions and product launch processes.
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Core Banking | ERP Services and Operations |
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2010 | 2010 |
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AI Development
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Generative AI Platforms | AI Development |
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2023 | 2024 |
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AI-Powered Application
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Intelligent Process Automation | AI-Powered Application |
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2023 | 2024 |
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Analytics and BI
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Analytics and BI | Analytics and BI |
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2010 | 2010 |
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Analytics and BI | Analytics and BI |
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2016 | 2016 |
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Blockchain
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
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Blockchain Platform | Blockchain |
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2024 | 2024 |
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Blockchain Platform | Blockchain |
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2017 | 2017 |
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Content Management
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Document Management | Content Management |
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2023 | 2024 |
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Intelligent Document Processing | Content Management |
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2023 | 2023 |
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Web Content Management | Content Management |
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2012 | 2012 |
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SCM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Supply Chain Management | SCM |
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2023 | 2024 |
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CRM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Digital Advertising Platform | CRM |
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2020 | 2020 |
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Digital Advertising Platform | CRM |
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2020 | 2020 |
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Marketing Automation | CRM |
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2023 | 2023 |
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EPM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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EPM | EPM |
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2023 | 2024 |
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Investment Management
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Trade Order Management System (TOMS) | Investment Management |
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2016 | 2016 |
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Procurement
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Procurement | Procurement |
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2023 | 2024 |
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TRM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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AML, Fraud and Compliance | TRM |
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2015 | 2015 |
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AML, Fraud and Compliance | TRM |
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2020 | 2020 |
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IaaS
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Application Hosting and Computing Services | IaaS |
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2014 | 2014 |
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Content Delivery Network | IaaS |
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2020 | 2020 |
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CyberSecurity
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
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Identity and Access Management (IAM) | CyberSecurity |
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2015 | 2015 |
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Secure Email Gateways (SEGs) | CyberSecurity |
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2016 | 2016 |
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IT Decision Makers and Key Stakeholders at RAKBANK
| First Name | Last Name | Title | Function | Department | Phone | |
|---|---|---|---|---|---|---|
| No data found | ||||||
Apps Being Evaluated by RAKBANK Executives
| Date | Company | Status | Vendor | Product | Category | Market |
|---|---|---|---|---|---|---|
| No data found | ||||||
FAQ - APPS RUN THE WORLD RAKBANK Technographics
RAKBANK is a Banking and Financial Services organization based in United Arab Emirates,
with around 4000 employees and annual revenues of $1.20 billion.
RAKBANK operates a diverse technology stack with applications such as
Oracle Cloud ERP, Oracle Cloud HCM and Infosys Finacle,
covering areas like ERP Financial, Core HR and Core Banking.
RAKBANK has invested in cloud applications and AI-driven platforms to optimize efficiency and growth,
collaborating with vendors such as Oracle and Infosys.
RAKBANK recently adopted applications including
R3 Corda Blockchain Platform in 2024, Oracle Cloud ERP in 2023 and Oracle Fusion Cloud Accounting Hub in 2023,
highlighting its ongoing modernization strategy.
APPS RUN THE WORLD maintains an up-to-date database of RAKBANK’s key decision makers and IT executives,
available to Premium subscribers.
Our research team continuously updates RAKBANK’s profile with verified software purchases,
vendor relationships, and digital initiatives identified from public and proprietary sources.
Subscribe to APPS RUN THE WORLD to access the complete RAKBANK technographics profile,
including detailed breakdowns by category, vendor, and IT decision makers.