Sybase Products Middle East today announced that Arab Bank, one of the largest banking institutions in the Middle East, has chosen Sybase Financial Fusion's e-finance suite for its internet banking needs. Arab Bank, which is looking at building a scalable technology infrastructure focused on customer service and growth, selected the premier internet banking solution for its depth of features and functions, its ability to cover multi-affiliations, customer-friendly interface, scalability and flexibility.
"Offering world class services is a strategic focus for Arab Bank and partnering with Sybase Middle East will help us in enhancing our Internet Banking service proposition to provide our valued clients with the convenience of more choices and accessibility when banking online," stated Mr. Mohamed Berro, Global Head of Retail Banking Group at Arab Bank. "Developing a state-of-the-art Internet Banking Service will represent another milestone in our strive to offer easy to use and round the clock banking services available to meet clients’ day to day banking needs at the highest quality standards." Mr. Berro added.
Financial Fusion Inc., a division of Sybase Inc., is a leading provider of online banking and payments solutions to large financial institutions in the world and is ranked as one of the leading solutions for Tier 1 banks in the USA. Sybase e-finance suite incorporates solutions for consumer and corporate banking needs. It provides an integrated enterprise platform for retail banking services such as account management, bill payment, transfers, eServices and credit cards, in addition to solutions for corporate cash management clients which include areas such as a trade finance interface, global payments, global transfers, cash flow position and self administration. E-Finance suite also provides banks with the choice of serving the Internet Banking needs of multi-affiliations and subsidiaries with a single & centrally managed deployment.
"We are proud that Arab Bank chose Sybase's e-finance suite for its internet banking needs. Arab Bank represents our sixth customer in the Middle East within only twenty four months since Sybase introduced these solutions. We now serve leading financial institutions in Jordan, Kuwait, United Arab Emirates, Bahrain and Qatar, and are looking for more successes in 2007," explained Mr. Tony Achkar, General Manager of Sybase Products Middle East. "Delivering a single underlying enterprise platform that supports multiple applications and meets the scalability and functionality needs of leading banks continues to be a successful formula for Sybase. With e-Finance Suite, Arab Bank will have the ability to integrate and deploy new software and applications from any vendor without having to manage different platforms, systems or code. Sybase will implement the Consumer internet banking modules for Arab Bank and we look forward to the possibility of extending this relationship into corporate internet banking in the future," he concluded.
About Arab Bank PLC
Arab Bank established in 1930 with the mission of providing financial services and has become one of the largest banking institutions with more than 400 branches of both PLC and subsidiary institutions in 29 countries, spanning the five continents. A market leader in the region with a country wide presence, holding assets of about US$32.5 billion and total shareholders equity of about US$5.9 billion. Throughout the years, Arab Bank has contributed to economic development through its dynamic role in the areas of corporate and trade finance, infrastructure development, and project financing holding a purpose of continued development. The bank is well known for its efforts and strong customer commitment and has been rated over the past several months "A" ratings by international credit rating agencies Moody's, Fetch and Standard and Poor's.
Sybase is the largest enterprise software company exclusively focused on managing and mobilizing information from the data center to the point of action. Sybase provides open, cross-platform solutions that securely deliver information anytime, anywhere, enabling customers to create an information edge. The world’s most critical data in commerce, communications, finance, government and healthcare runs on Sybase
Financial Fusion, a division of Sybase, provides integrated financial solutions to more than 200 of the world's leading financial institutions. The company supplies service and support in 60 countries. Financial Fusion Banking Suite is designed to meet the online delivery requirements of the financial services industry.