Custom developed solution on pennApps Unified Processing Platform, to streamline Commercial Bank, Qatar, Back-Office Activities and enhance processing efficiencies in a controlled environment…
September 1, 2013 Hyderabad – Pennant Technologies, a leading provider of software services and products to the leading banks across Middle East, announced that Commercial Bank, Qatar selected its pennApps Unified Processing platform coupled with the customization services to streamline and automate its Back-office activities.
pennApps Unified Processing Platform is conceptualized to offer a complete platform based solution with innovative components that includes the Rule Engine, Notification/Alerts, Dashboards and enterprise class workflow. The platform is powered by BPMN2.0 compliant graphical Process Editor with a capability to add processing services as per the bank requirements in minimal time.
Pennant positioned its unified processing platform to enable banks achieve process automation in unified manner given the heterogeneous mix of applications with varied processing and control capabilities. The powerful processing capability of the platform enables banks to add bank specific business services that are part of the disparate systems to one single platform so as to achieve operational efficiency effectively leveraging rule based enterprise class workflow capabilities.
Commercial Bank, Qatar intends to streamline its back-office activities so as to achieve the complete control of its processing. To this end, the bank selected pennApps Unified Processing Platform as it offers proven platform capability enabling the bank to gradually move the business services to this platform with minimal operational constraints and offers complete control on the business processing.
Rama Krishna Raju, CEO of Pennant Technologies says, “We always believe in offering the right-fit solution that truly meets our client requirements at optimal cost. Commercial Bank is our long-standing customer and we were able to quickly offer the pennApps Unified Processing Platform as it is developed for such requirements and we are confident that this solution enables Commercial Bank to effectively streamline the back-office operations.”
The Unified Processing Platform is the right choice for Commercial Bank to define and develop the business processing capabilities as per the bank specific requirements with better operational controls.
About Commercial Bank, Qatar:
The Commercial Bank of Qatar is today one of the leading full service banks in Qatar offering a full range of personal, corporate, government, international and investment banking services. Established in 1975 as the first private bank in Qatar, the Bank plays a vital role in driving innovation and raising service standards in banking across the region through its investment in new technology, a clear focus on customers and prudent management. Commercial Bank of Qatar enjoys strong credit ratings, is listed on the Qatar Exchange, was the first Qatari bank to list its Global Depository Receipts as well as bonds on the London Stock Exchange, and was also the first Qatari bank to issue a public bond in Switzerland.
A successful diversification strategy has expanded Commercial Bank of Qatar’s GCC footprint through strategic partnerships with associated banks in Oman and in the UAE. Building on the successful execution of the Bank’s regional expansion strategy to date, in July 2013 Commercial Bank of Qatar announced the acquisition of a majority stake in a full service bank in Turkey. These strategic alliances enable the Bank to offer integrated services across the region, including cross border services for corporate banking and capital markets; support on trade services; private banking services; and, syndicated loans.
Pennant Technologies, dynamic and innovative software solutions and services company offers comprehensive suite of end-to-end business driven technology services and next generation software products covering all the functional areas of BFSI vertical. Pennant offers the right-fit and next generation products that address the unique requirements of banking. The suite of offerings includes Islamic Finance Factory, Cross Sell, Interactive Communication Manager, Notification Manager, Lending Factory, Direct Debit, Host Integrator, Utility Bill Pay and Business Continuity.
Pennant’s suite of solutions and services encompasses Enterprise Application Integration Services, Application Services comprising Application design, development, maintenance services and Consulting services comprising IT consulting and Business Continuity Management services.
Pennant empowers its customers to effectively address their business challenges with its deep domain expertise backed with excellent insights of local market dynamics and leveraging the latest technology advancements.