{
  "id": 1493228,
  "title": "Rajendra Prasad, Al Mulla Group: From Manual to Modern",
  "url": "https://urgent.news/2026/08/17/rajendra-prasad-al-mulla-group-from-manual-to-modern",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T13:40:17.000Z",
  "source": {
    "name": "Global Finance",
    "slug": "global-finance",
    "url": "https://gfmag.com/award/winner-insights/al-mulla-treasury-transformation-automation-ai/"
  },
  "original_language": "en",
  "account": "In 2022, Rajendra Prasad joined Al Mulla as part of a large-scale transformation of the company's treasury function, which had been manual and paper-based for years. This system was linked to outdated ERP software, causing issues with managing over 300 bank accounts and a lack of real-time visibility. Leadership insisted on a modernization to overcome these silos.\n\nPrasad began addressing underlying process issues by creating a mini-project called DAS & FOT (dedicated account setup and flow of transactions). This project aimed to clean data and structures before implementing a new treasury management system. A significant hurdle was establishing a structured Banking Operating Model with dedicated accounts for group treasury. This required a three-month suspension of the main project to clear legacy issues.\n\nWhen choosing a solution provider, Prasad evaluated top-tier vendors and selected FIS Integrity due to its flexibility and robust SaaS-based solution. They adopted an API-first approach, automating foreign exchange deals through a platform that sent RFQs directly from their forecasting. This eliminated errors and ensured optimal market rates through competition. FIS’s system also allowed for central updates to compliance requirements without complex ERP reconfigurations.\n\nImplementing such a transformation required significant cultural and organizational change. Prasad established a steering committee with top-level representation and prioritized transparency through a Contributor Dashboard and an incentivization program. Leadership was secured, ensuring the project extended beyond treasury to a company-wide evolution.\n\nLooking ahead, the treasury team aims to move from monthly forecasting to real-time, predictive AI-driven forecasting. This will involve populating cash flow codes in payment files to build a deep data range, enabling the use of FIS’s cash predictor modules. These AI codes will analyze forecasts against actuals, identifying deviations in payment timelines and providing feedback to operations. Additionally, the team plans to automate trade finance, moving away from manual processes prevalent in their region.",
  "summary": "Rajendra Prasad, Al Mulla Group’s head of group treasury, discusses the Kuwaiti conglomerate’s treasury modernization, which earned it a TCM Systems and Services award. The post Rajendra Prasad, Al Mulla Group: From Manual to Modern appeared first on Global Finance Magazine .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}