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Thursday,
24 February 2005
+++ Arab Bank, InnoKAT and INTRACOM Partnership in Excellence
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Amman, Jordan - Feb 22nd Arab Bank, InnoKAT FZ-LLC,
INTRACOM announced today the launch of FUSION, a unique regional IT company
focusing on solutions for financial services with Headquarters in Dubai
and a development centre in Amman, Jordan.
FUSION will provide innovative technology solutions for
the financial services industry for the MENA region helping financial
institutions deploy the right technologies to enable them to operate effectively
in today's very competitive market.
Mr. Abdel Hamid Shoman, Deputy Chairman and CEO of Arab
Bank stated "This partnership leverages the extensive expertise of
Arab Bank, InnoKAT and INTRACOM in the field of Information Technology,
and their local and international presence. The adoption of state of the
art technologies will enable financial institutions to offer their customers
the best service at competitive costs."
Mr. Abdel Hamid Shoman added, "Arab Bank continues
to seek and adopt effective and innovative technology solutions, to improve
the bank's competitive position in its markets, which has been instrumental
in preserving the Arab Bank's leading position. FUSION will offer a combination
of deep knowledge of the financial industry and expertise in advanced
technologies, which will assist other financial institutions in the region."
Socrates Kokkalis, INTRACOM Chairman, declared:
"Today, the financial industry faces economic, competitive and regulatory
pressures that are driving financial institutions to re-evaluate their
strategies and re-shape the way they are delivering business. This paradigm
shift calls for investments in IT solutions and emerging technologies.
FUSION, along with its inherent financial industry practices and experience, will be able to anticipate the dynamic needs of this market
through quality services and solutions."
George Deligiannis, INTRACOM
Managing Director, added: "The creation of FUSION is aligned with
INTRACOM's strategy to develop international partnerships with global
market leaders, partnerships that will fully leverage the potential of
our subsidiaries in the Middle East Market and contribute in the modernization of regional markets. As a major banking solutions integrator
with a considerable 14-years experience in the financial services sector, INTRACOM shall provide
valuable know-how to the unique needs of FUSION customers."
Mohammed Kateeb, Chief Executive Officer of InnoKAT and the ex-Middle
East Microsoft Managing Director stated, "We are excited to be part
of this initiatives that brings three leaders together to create
a unique solution company that will serve this vital sector for the Middle
East economy. Technological advances and innovative solutions are critical
for the continuous success of the ME financial sector."
He also added that "Fusion will offer a full array
of solutions that support business strategies and facilitate improvements
for customers in the financial sector. Drawing upon extensive capabilities
and expertise in consulting, business processes, applications, and IT
infrastructure that InnoKAT provides Fusion will be able to leverage deep
industry expertise to craft integrated, industry-specific solutions to
meet each customer's current and long-term needs."
"FUSION will be ready to offer its products and
services this summer. The company will develop vertical applications for
the Financial Services Industry in our region based on proven technologies
from leading technology providers. The combination of banking knowledge,
proven technologies, and top notch professional services will position
FUSION as the provider of choice for the financial industry." concluded
Majed Abdel-Rahim Global Head of IT at Arab Bank.
About Arab Bank plc
The Arab Bank was established in 1930 in Jerusalem.
And today after more than 75 years the bank operates a global network
of more than 400 branches and offices on five continents. The Arab Bank
group has a balance sheet of USD 36.5 billion, shareholder's equity of
USD 3.3 billion and a 2004 income of USD 319 million. The bank started
automating its operations in the mid 1960s, and continues to be a pioneer
in adopting new and innovative technologies to serve its customers.
About InnoKAT FZ-LLC
InnoKAT is a unique IT company that brings Innovation,
Knowledge, and Advanced Technologies together to the benefit of the Middle
East customer, with a very strong value system of the highest ethical
standards. The exciting business model InnoKAT in addition to the company
board that is comprised of very successful business people from Kuwait,
Qatar, Saudi Arabia and UAE who bring
a wealth of experience in conducting business in the region, as well as
demonstrate true regional partnership. Headquartered in Dubai, InnoKAT
has regional offices in Abu Dhabi, Riyadh, Kuwait,
and Amman. InnoKAT delivers solutions that are in short supply and of a great demand;
namely, solutions pertaining to the management of the information life-cycle
with focus on securely transforming data
to knowledge. This involves business continuity, enterprise security and
risk management, storage architecture, and Enterprise Application Integration.
In addition, InnoKAT will provide unique vertical solutions to the financial,
public, Oil & Gas,Telecommunication and Healthcare sectors. The initial
focus of the company business will be on the GCC market with an expansion
plan over the next five years of wider outreach and presence that will
target more local offices in the Middle East region, as well as internationally.
About INTRACOM
INTRACOM is a leading provider of cutting-edge telecommunications
and IT systems with a strong presence in over 45 markets worldwide. Its
objective is to play an important role in the growth and modernization
of regional economies. As an innovation leader, INTRACOM invests in R&D
and provides products and services to the Telecommunications, Banking
& Finance, Government & Public Administration and defense sectors. In 2002, INTRACOM established
the Athens Information Technology (AIT) educational and research centre
in order to promote scientific research and advance graduate education
in the IT&T. The Centre offers a special Master's of Science in Information
Networking programme in cooperation with Carnegie Mellon University in
USA. INTRACOM's headquarters are located in Athens, at an area of 100,000
sq.m. The company is certified under the international Quality Assurance
(ISO9001:2000), Environmental Management (ISO 14001:1996), Occupational
Health and Safety (OHSAS 18001:1999) and Social Accountability (SA 8000:2001)
standards. More information: www.INTRACOM.com.
INTRACOM Jordan
INTRACOM-Jordan, a subsidiary of INTRACOM S.A., is an
end-to-end IT solution provider and system integrator based in Amman and
expanding its activities to the surrounding countries in the Middle East.
Its professionalism, expertise, commitment and liability have maintained
a strong and consistent presence in almost every sector of economy especially:
Banking and Finance, Telecommunications, Health, Education, Government
& Public Administration and defense.
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