Commercial Bank, Qatar Goes Live with Pennant’s Customised Back Office Solution
Commercial Bank can now leverage the pennApps Unified Processing Platform features to enhance its processing efficiencies in a controlled environment…
July 15, 2014, Hyderabad – Pennant Technologies, a leading provider of software services and products to leading banks across Middle East, announced smooth and successful implementation of Back-office automation solution powered by Pennant’s Unified Processing Platform.
Commercial Bank can now manage its back-office activities much more efficiently well within the control framework as defined by the bank leveraging the newly implemented solution. Critical back office transactions are being processed through pennApps solution that offers enterprise class process driven and rule based work-flow features thereby achieving complete control over transactional processing and leveraging time tested business applications of the bank which are seamlessly integrated with the solution.
Rama Krishna Raju, CEO, Pennant Technologies says, “Delivering right-fit business solutions so as to achieve the agility in the current competitive environment while leveraging time tested back office or core applications through seamless integration is always a priority for us. We are sure Commercial Bank can now achieve the operational efficiencies in transactional processing as this platform offers proven business processing capabilities that are the need of the hour.”
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, 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.