Fund-Technology.com

SmartStream makes inroads in MidEast market

Posted: 29 January 2009

SmartStream offers software solutions that automate middle and back office processes. By implementing SmartStream Transaction Lifecycle Management (TLM) solutions institutions can reduce their operational risks while decreasing processing costs and improving customer service.

SmartStream has already signed up Finance House in Abu Dhabi, the National Bank of Kuwait, Bank Muscat and the Commercial of Bank Kuwait. Smartstream was acquired by DIFC Investments in November 2007 and is already making headway. More than 25 organisations in the GCC banking industry rely on SmartStream’s TLM solutions to deliver visibility and control to their operations.

Pritesh Kotecha, the Middle East sales director for SmartStream Technologies, said: “We have taken great effort to ensure our solutions match GCC market needs and working with local firms to deliver new types of solutions based on our proven technology. Being based out of Dubai has also proved to be an important differentiator, providing local sales, support and professional services.”

To further expand its operations SmartStream has also appointed two new distribution partners, AMFCO International and Bahwan CyberTek, which will work closely with the Dubai office. AMFCO, an established company with more than 90% of the Pakistani market as customers, will allow SmartStream to expand its footprint within the regional markets, offering full sales, services and support for SmartStream’s reconciliations solutions.

Bahwan CyberTek, which has an established and extensive presence throughout the GCC countries, will support SmartStream by focusing on the company’s reconciliations and trade finance solutions.

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