Aspidex offers Gulf region e-banking solutions

Aspidex Technologies, a leading ASP, announced the establishment of its headquarter office and operations in the Middle East in Dubai Internet City.

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By  Vijaya George Published  October 28, 2001

Aspidex Technologies, a leading Application Services Provider (ASP) in the Middle east dedicated to the development and distribution of e-banking application services, today announced the establishment of its headquarter office and operations in the Middle East in Dubai Internet City. The company - founded by Rasmala, a private equity investment group - has established operations in the Middle East to provide turnkey e-finance solutions and business consultancy to financial institutions throughout the region.

“With the growing use of the Internet as an essential business tool worldwide and with increasing focus on deregulation policies in the financial sector, the implementation of reliable e-banking solutions is becoming a top priority for the financial industry throughout the Middle East,” said Izzat Dajani, CEO of Aspidex Technologies.

“Today, out of the top 100 banks in the Middle East, only 18 have online transactional capabilities. To retain competitive advantage, therefore, banks and financial institutions in the region need advanced Internet banking solutions that not only automate internal work processes and sustain long-term relationships with their clients, but also enable them to grow their customer base with a minimal total cost of ownership,” added Dajani.

To provide advanced e-banking solutions to the region’s financial sector, Aspidex has entered into an exclusive equity partnership with Corillian International, the global provider of eFinance enabling software, to offer Corillian’s Voyager ASP Internet banking platform. Aspidex will also offer Corillian Voyager, the operating system for eFinance, as an on-premise solution to banks requiring that option.

Aspidex intends to provide financial institutions with real-time access to client accounts, enhanced bill payment and presentment capabilities, customised storing and tracking options, and the interoperability of statement data systems with other financial management software platforms, such as Microsoft Money. The company will lease its offering to client banks without compromising the banks’ data confidentiality and security.

This model enables Aspidex’s customers to focus at their core competency — banking — and leave IT considerations to Aspidex’s expertise.

“Banks will still retain all their data within their own infrastructure,” said Ibrahim Metwally, head of marketing at Aspidex Technologies. “The entire front-end Internet banking applications are supported and maintained by Aspidex’s hosting centre, which provides services to multiple client banks,” added Metwally. In addition, Aspidex’s solutions enjoy a ‘speed-to-market’ feature that allows banks to commence their online banking operations within a period of 10 to 12 weeks after the initial agreement.

“Aspidex’s offerings are custom-designed to meet the specific e-banking needs of financial institutions in the Middle East,” said Dajani. “We are confident that the solutions Aspidex provides for the banking industry in the region will further advance their productivity and profitability while enhancing their customer relations,” continued Dajani.

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