Pennant’s association and its role is rightly acknowledged by Commercial Bank of Qatar in its recent case study published in IBS Intelligence Lending Supplement…
July 14, 2015 Hyderabad – : Pennant Technologies, a leading banking software products and services company, announced today that its association in a IT transformation initiative with its longstanding customer, Commercial Bank, Qatar has been highlighted as a featured case study in the current lending supplement edition of proudly independent banking journal, IBS Intelligence.
The case study titled “Old Core New Rules” provides fascinating insights for banking technology professionals in building a business case on their journey towards achieving the SOA based architecture. All of that by simply developing the business services and service requests adopting IFX and BIAN around core banking application in a phased manner to meet ever changing business requirements while aligning with the long-term IT strategy of the bank.
pennApps Unified Processing platform played critical role in the transformation journey by offering the required modularity, high-level of flexibility, enhanced transactional control framework for various business services that are being added to this platform and integrating with the existing core banking application leveraging IFX and BIAN standards.
“This first project with Pennant went well, with good quality delivery well withing set deadlines,” says Margaritis.
Pennant positions its unified processing platform to enable banks achieve process automation in unified manner with comprehensive enterprise wide control framework. The FinTech helps overcome the operational challenges due to the heterogeneous mix of applications with varied processing and control capabilities that are quite common in any typical application landscape of the bank. The powerful processing capability of the platform enables banks to add bank specific business services that are part of disparate systems to one single platform so as to achieve operational efficiency leveraging rule based enterprise class workflow capabilities.
Commercial Bank’s association with Pennant over the past years and played pivotal role in this transformation initiative right from the beginning which was rightly acknowledged in the case study. Pennant attributed its success to the years of association with leading banks across the Middle East that enabled Pennant to learn the market dynamics and especially the intricacies that are typical to bank’s IT application landscape.
Dedicated team at Pennant ensured that all its right ingredients address such challenges cost effectively in phased manner. pennApps Unified Processing Factory comes with all the standard features including functional product factories, rule engine, BPMN2.0 compliant process editor, rule based enterprise class workflow thus enabling the banks to quickly add business services and accelerating the time-to-market.
“We are pleased to be part of this major transformation initiative at Commercial Bank, Qatar and we are extremely honoured to have this Case Study featured in the Lending Supplement of the IBS Journal, known for its global and independent perspective on financial technology,” said Rama Krishna Raju Eepuri, CEO and Director of Pennant. “Our continued engagement with long standing customers like Commercial Bank, Qatar, stands as a true testimony for our commitment in delivering the right fit solutions and we thank Commercial Bank for their open contribution to this case study. We believe the insights provided in this case study would benefit many other banks in the region and also around the world. The case study provides concrete insights on what a bank can achieve with right planning and approach without all the lengthy and complicated initiatives of replacing core banking systems.”
The case study can be download clicking here
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.
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.
The company 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.