National Bank of Fujairah Selects pennApps Host Integrator
PennApps Host Integrator to power National Bank of Fujairah’s ATM & POS transactional processing…
April 30, 2014 Hyderabad – Pennant Technologies, a leading provider of software services and products to the leading banks and financial companies across Middle East, announced today that National Bank of Fujairah, a leading bank in UAE, has selected pennApps Host Integrator product to improve the response time of the ATM & POS transactional processing.
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 the core banking system.
With pennApps Host Integrator, banks can achieve improved response time and operational efficiency in the ATM/POS transactional processing. pennApps Host Integrator offers high level of operational efficiency due to its ability to handle multiple back end Core Banking Systems with different ATM/POS controllers and an unmatched flexibility leveraging its highly configurable accounting engine to easily configure the financial accounting, commission and fee parameters as per bank requirements.
National Bank of Fujairah intends to improve the ATM & POS transactional processing times, to build offline transaction authorisation engine without being dependent on core banking system and operational efficiencies so as to improve the customer experience. After a thorough evaluation of numerous solutions, NBF finally selected pennApps Host Integrator to improve the transactional response time and operational efficiency of ATM and POS transactional processing.
“We are excited of associating with National Bank of Fujairah as this is our first engagement. We are fully aware of the expectation and we strongly believe that we will match up to the bank expectations. 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 National Bank of Fujairah to leverage various other innovative features of the solution once they are satisfied with immediate business needs,” says Rama Krishna Raju, CEO of Pennant.
About National Bank of Fujairah PJSC
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg Company LLC and Investment Corporation of Dubai. Rated Baa1/Prime-2 by Moody’s and BBB+/A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 across the UAE.
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.