Financial Objects and Esquire Systems team up

Financial Objects has signed a partnership agreement with Esquire Systems. According to the agreement, Esquire Systems will market, implement, service and support the vendor’s Activebank² solution in the Middle East.

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By  Vijaya Cherian Published  June 17, 2003

Financial Objects has signed a partnership agreement with Dubai-based IT solutions provider Esquire Systems. According to the agreement, Esquire Systems will market, implement, service and support the vendor’s Activebank² solution in the Middle East.

“Activebank² is the answer for banks looking for a modern, functionally rich, and quick to deploy solution,” says Anil Kumar, director, Esquire Systems. “It provides a uniquely componentised architecture giving scalability on demand coupled with low deployment cost,” he adds.

According to the IT solutions provider, the region lacks pluggable options such as Activebank² that can enable banks to seamlessly integrate new components and channels with a bank’s existing applications. “Most banks across the world do not want to replace their core banking system; they merely want one or two components to enable them to introduce new products to their customers. At the same time, they want to do this cost effectively. That’s why Activebank²’s componentised architecture is useful. Instead of purchasing an entire solution, banks can purchase individual components such as treasury, retail and payments and integrate them into their existing infrastructure. This way, they protect whatever investment they have made in the past,” explains Kumar.

Activebank² is based on the .Net platform, uses XML and is a rules-based system that also claims to have the ingredients necessary for banks to tweak their systems to introduce Islamic banking and check money laundering, to a certain extent. “Banks in the Middle East, as elsewhere, face market pressure to provide advanced services to their customers whilst having to search for cost-effective solutions,” says Karim Peermohammed, executive director, global sales, Financial Objects. “With this solution, we have been able to address those needs,” he adds.

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