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Knowledge Net Co. Announces Contract Sign Off with Saudi National Bank
| Element List | Explanation |
|---|---|
| Introduction | KnowledgeNet Co, announces the signing of an artificial intelligence project contract for the Saudi National Bank customer platform. |
| Date of Announcement of the Award | 2024-05-15 Corresponding to 1445-11-07 |
| Contract Subject Matter | Enhancing the Saudi National Bank customer platform using artificial intelligence. |
| The Entity with Which the Contract was Signed | Saudi National Bank |
| Date of Signing the Contract | 2024-05-15 Corresponding to 1445-11-07 |
| Contract Value | The contract value is SAR 4,312,500 (Four million three hundred twelve thousand five hundred Saudi Riyals only). |
| Contract Details | The Saudi National Bank has chosen KnowledgeNet Co to develop its customer platform, thanks to its excellence in providing comprehensive artificial intelligence solutions. This project will enhance the platform's capabilities in customer identification and account management with high efficiency, contributing to an overall improved customer experience. Our services include: - Development of an AI System for Customer Identification: Identifying customer identities through the analysis of stamps, signatures, and attached documents. - Enhancing Account Opening Processes: Accelerating the creation of new accounts by automating customer identity verification tasks. - Providing Accurate Data: Ensuring the accuracy of customer data across all bank systems. We believe that the integration of artificial intelligence will significantly improve the efficiency of the Saudi National Bank customer platform and deliver an exceptional experience to its clients. |
| Contract Duration | From 15-5-2024, to 31-3- 2025 |
| Financial Impact and the Relevant Period | The contract is expected to have a positive financial impact on the company. |
| Related Parties | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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