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French Version

Arab Bank, InnoKAT and INTRACOM: partnership in excellence

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 center 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-Cairman 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.” 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 have 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 strategic 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.” Mohammad Kateeb, CEO of InnoKAT and the ex-Middle East Microsoft managing director stated, “We are excited to be part of this initiative that brings three leaders together to create a unique solutions 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, “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.

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