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Qatar National Bank (QNB) Selects pennApps Host Integrator

By November 10, 2014 No Comments
pennApps Host Integrator to process all of the financial and non-financial transactions originating from ATM & POS channel…

November 10, 2014 Hyderabad – Pennant Technologies, a leading provider of software services and products to leading banks and financial companies across Middle East, announced today that Qatar National Bank, the largest bank in Qatar and one of the leading bank in Middle East, has selected Pennant’s pennApps Host Integrator product to manage and process financial and non-financial transactions from ATM & POS Channel.

pennApps Host Integrator is a Comprehensive and modular solution to effectively integrate the ATM/POS channel with Core Banking System. Network messages are seamlessly processed and transactions are authorized with the host integrator’s inbuilt capability that facilitates communication between ATM/POS controllers and respective core banking systems.

With pennApps Host Integrator, banks can achieve improved response time in the ATM/POS transactional processing. pennApps Host Integrator offers high level of transactional processing efficiency due to its ability to handle multiple back-end Core Banking Systems with different ATM/POS controllers. It further offers unmatched flexibility leveraging its highly configurable accounting engine to easily configure the financial accounting, commission and fee parameters as per bank requirements. In addition, pennApps Host Integrator offers suite of functional capabilities that enable banks to extend a variety of financial & non-financial transactions to ATM/POS channel that are not offered traditionally due to the integration challenges.

Qatar National Bank (QNB) intends to leverage the seamless message transformation capability so as to process all the financial & transactional transactions being offered from ATM & POS channel while leveraging the transactional accounting capabilities of its core banking application for the authorization & accounting. After a thorough evaluation of numerous solutions, QNB selected pennApps Host Integrator to enhance operational efficiency of various financial and non-financial transactions being offered from ATM and POS Channel.

“We are excited to collaborate with Qatar National Bank, given the size of the bank and the volumes of the transactions. We are fully aware of the expectations and we strongly believe that we will match up to the bank expectations. We are sure we can take our relationship to the next level as our Host Integrator is a proven solution that is already processing millions of transactions every day across five leading banks in this region without any issues. We wish QNB to leverage various other innovative features of the solution once they are satisfied with immediate business needs.” says Rama Krishnam Raju, CEO of Pennant.

About Qatar National Bank:
Qatar National Bank, the first commercial bank owned by the nation and the country’s largest, was established in 1964 and has grown to become one of the largest financial institutions in the region. QNB Group has steadily grown to be the largest bank in the Middle East and North Africa region and is by far the leading financial institution in the country with a market share exceeding 45% of banking sector assets. The bank is rapidly establishing an international presence by acquiring stakes in financial institutions throughout the MENA region, including Tunisia, Algeria, Syria and Iraq.

About Pennant:
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, Enterprise Social Media Management, Notification Manager, Lending Factory, Direct Debit, Host Integrator, Utility Bill Pay and Business Continuity.

The company’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.

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