Velocity Ledger Financial, a technology solution supporting the institutional investment and trading processes for digital assets and security tokens, has selected Prime Trust as its preferred custodian. Through this partnership, Velocity Ledger Financial and Prime Trust will facilitate the issuance and custody of digital assets, supporting the growth of tokenized assets in the new digital economy.

Prime Trust is a qualified custodian that can hold cash and non-cash assets such as stocks, bonds, cryptocurrencies, tokens, real estate, and private business ownership interests.  VL Financial has applied for a Digital Asset Business Act (DABA) license to operate a Digital Assets exchange in Bermuda, where it will operate issuance and secondary trading services for structured REIT and investment tokens.  Issuers and investors in these assets will perform an automated registration with Prime Trust directly from the VL Financial platform to establish custodial accounts for investment operations.

“Velocity Ledger Financial is an institutionally focused marketplace for digital assets,” says Julian Jacobson, Chief Operating Officer of VL Financial. “The Exchange and Custodial functions are each independently regulated companies with their own enterprise level systems that interoperate around the use of private and public blockchains”.  "We are excited to work with Velocity Ledger as they bring marketplace technology and tools to the emerging digital economy, paving the way for an exciting new future of liquidity options for tokenized assets of all types,” says Scott Purcell, CEO and Chief Trust Officer at Prime Trust.  

With information security a key issue for financial services firms, a new software platform allows directors with no specialist IT skills to monitor the whole of their cybersecurity for the very first time.

ThreatAware is unique in allowing board members and senior managers to check the cybersecurity status of all their critical systems and software, and compliance with policies and procedures at the same time. The easy-to-use dashboard provides complete visibility, alerting them to threats, making it clear what actions need to be taken and by whom, and keeping records for compliance purposes.

ThreatAware is designed for financial and professional services firms where cybersecurity monitoring and compliance are critical. It makes it easier to comply with GDPR and other standards and can be tailored for FCA-regulated firms.

According to a report by HTF Market Intelligence, cyberattacks against financial services firms increased by over 70% in 2017 and are more common than in any other industry. The attack on Equifax created a turmoil in the global markets, while incidents like the WannaCry and Petya ransomware affected firms worldwide.

ThreatAware has been launched by serial entrepreneurs Steve Thomson and Jon Abbott, co-founders of London-based IT services provider, Priority One.

Jon Abbott, CEO of ThreatAware, said: ‘Cybersecurity is now a key business risk and financial services firms which hold large amounts of client data are a particular target.

“Cybersecurity is not the sole preserve of the IT department but a company-wide challenge. While tools such as firewalls and anti-virus software are critical, firms also need the right policies, procedures and staff training in place alongside them. ThreatAware allows directors to keep track of all these different aspects, simplifying compliance and providing peace of mind.’

The ThreatAware dashboard monitors the company’s security tools, such as anti-virus, email and web software, which enables it to detect all devices connected to the network and identify the users. ThreatAware also comes complete with a framework to help companies to comply with the relevant standards – whether that is GDPR, Cyber Essentials, ISO/IEC 27001:2005 or FCA regulations.

ThreatAware creates alerts graded by the level of threat – for example, amber where a device requires its antivirus updating or red if the system is infected. Alerts cannot be overridden, even by engineers, and remain visible until fixed. As changes are tracked over time, users can monitor trends and be alert to developing problems.

ThreatAware is priced at £300 per month plus a small monthly fee per computer. The standard package includes Webroot Anti-Virus, while the enhanced package also bundles Cisco Umbrella web browsing security and Automox patching tool. ThreatAware is ideal for firms with 35 to 500 users.

Jon Abbott adds: ‘Regulators accept that it may not be possible to prevent every breach, but they expect organisations to have monitoring and safeguards in place and they are willing to hold directors to account.

“ThreatAware allows directors to have total visibility of their business cybersecurity. Not only does the platform minimise the risk of a breach, but it also provides evidence that the board has taken all reasonable steps to prevent it.’

EBO.ai, the artificial intelligence company, has today announced the opening of its new UK office. EBO.ai, initially founded in Malta is now opening its doors to the UK market as it looks to rapidly scale up its operations. 

EBO.ai is helping companies of all sizes to realise the potential of AI and create new business capabilities in order to achieve unprecedented growth and profitability. The world of customer service, lead management and sales is never ending, and with so many communication touch-points now available, it’s vital that companies optimise customer service across multiple channels.

By implementing EBO.ai’s ‘bots’, companies in the financial services and healthcare sectors will benefit from improved customer and patient conversations. EBO.ai’s unique data and analytics capabilities mean that customer and patient interactions are continually improved.  Also, because EBO.ai collects and interprets all interaction data, companies are able to personalise every customer and patient conversation.

As this conceptual side of computer science becomes more relevant to business, companies are quickly adopting AI to boost their results and improve their economic output, and EBO.ai can help businesses achieve these objectives.

“AI has the potential to change every business. As operating budgets are squeezed and the need for a better customer experience grows, EBO.ai presents a technology solution that can help to kick-start profitability. EBO.ai consists of multiple technologies that help our ‘bots’ comprehend, learn and act on human input.” said Dr. Gege Gatt, CEO of EBO.ai. 

“From our UK office, we are now operating across both the banking and healthcare sectors. There is a clear need for intelligent automation in both of these markets, as well as the real-time management of customers. EBO.ai helps companies streamline their operations and provides the technical muscle – through Natural Language Processing and Deep Learning - to augment a company’s labour force and generate greater business returns.”

PegaSys today announced the release of Pantheon 1.0 with permissioning and consensus features built specifically with enterprise requirements in mind. Pantheon 1.0 allows users to create private blockchain networks, with new customer support and training offerings. PegaSys, ConsenSys’ 55-person protocol engineering team, is furthering the range of technical offerings and expertise for consortiums in finance, supply chain, healthcare, government, and other enterprise verticals deploying Enterprise Ethereum blockchain networks. 

Pantheon 1.0 is the first Ethereum blockchain client built from the ground up for enterprises in addition to the public mainnet. As a Java-based, Apache 2.0-licensed software client, it is perfectly situated to satisfy the stringent technical, business, and legal requirements of enterprises and governments. Ongoing conversations and sessions with customers and industry working groups that are part of the Enterprise Ethereum Alliance (EEA) have yielded insight into the features required for enterprise-grade production: faster and more secure networks using the licences and languages enterprise developers are most familiar with. This is the first step in enabling large, decentralized networks for many industries. PegaSys’ core mission and long term goals are to enable private networks to work interoperably with public chains, Ethereum mainnet and others. 

“Over the past four years we’ve worked with customers around the world, and whether central banks, industry consortiums, or Enterprise Ethereum Alliance (EEA) working groups, we’ve been attentive to incorporating their feedback to create a truly enterprise-ready Ethereum client: Pantheon. Ethereum automates trust and enables automated agreements between actors on a shared IT infrastructure, yet many industries require greater transaction throughput, privacy, and specialized validation features beyond what the Ethereum 1.0 base layer can presently offer. This is the most accessible client to date, which will help enterprises reduce the cost of trust with external parties and create more collaborative infrastructure and cooperative business models going forward,” said Joseph Lubin, Founder of ConsenSys.

Enterprise-grade features

Node whitelisting, account whitelisting, and permissioning APIs enable actors to control which nodes are running, and which accounts can send and receive transactions  — features necessary for securing existing financial and network infrastructures. PegaSys’ goal is to create permissioning controls that comport with enterprise IT best practices.

A faster consensus mechanism, Istanbul Byzantine Fault Tolerance (IBFT) 2.0, ensures a single, agreed-upon ordering for transactions in the private blockchain and also faster settlement finality compared to Proof-of-Work. It can ensure both high data integrity and fault tolerance, as IBFT 2.0 uses a group of validators to ensure the integrity of each block being proposed. A super-majority (~66%) of these validators are required to sign the block prior to insertion to the chain, making block forgery very difficult. The “leadership” of the group also rotates over time — ensuring a faulty node cannot exert long term influence over the chain.

As part of the launch, PegaSys is also announcing a partnership with DrumG Technologies to deliver enterprise-grade distributed applications for financial services using Pantheon 1.1 as the blockchain protocol. "The privacy features and design of Pantheon enable a number of use cases where confidentiality is required in the banking sector, and we're excited to work with the PegaSys team on Enterprise Ethereum," noted DrumG Chief Architect, Marc Sparrow.

A full-range of customer support offerings

PegaSys is committed to Pantheon being open-source, vendor-supported, and enabling the developer community to contribute to its Ethereum client. For this reason, PegaSys will now be offering customer support models to meet individual and consortium-wide needs. From online customer support to dedicated full-time support engineers, different pricing models are available for networks of all sizes.  

“Enterprise support will give our customers the confidence and assurance they need to run Pantheon and Enterprise Ethereum, and also help us roll out better features that enterprises need to get to production,” said Daniel Heyman, Program Director, PegaSys.

Pantheon 1.0 is also available in Azure Marketplace (or direct via Azure Portal) through partnership with Microsoft. 

Compatible with your favorite Ethereum tools

Pantheon works with the most common Ethereum tools and infrastructure, such as Truffle, Remix, web3j, Nethereum, Kaleido and Epirus. Alethio’sEthStats, an advanced block explorer and analytics platform, provides full and accessible transparency into real-time and historical network activity. Alethio's open source version of its explorer is directly integrated with the Pantheon client. Pantheon nodes are also supported by Infura, which bridges hundreds of dApps to the Ethereum mainnet. Financial management of on-chain digital assets can be tracked by a suitably configured implementation of Balanc3. (Tell us what other tools you’d like to use on our Gitter!)

Future Roadmap

The long-term value of enterprise Ethereum is interoperability with the public mainnet, which offers global reach, time-tested resilience, and high integrity. PegaSys is working on practical integrations for enterprises as well as innovative R&D approaches for scaling the public Ethereum Network. The next release of Pantheon 1.1 will offer new transaction privacy features.

State Street Corporation, (State Street), NYSE:STT today announced that its board of directors has appointed Lou Maiuri, previously head of State Street’s Global Markets and Exchange businesses, to the role of Chief Operating Officer.  In this capacity, he will have overarching responsibility for State Street’s IT, Global Delivery, Global Exchange, Charles River Development and Product teams. Maiuri will continue to serve on State Street’s Management Committee and report to President and CEO Ron O’Hanley. 

Last year, State Street brought together all of its client facing activities including service, relationship management and sales under the leadership of Management Committee member Andrew Erickson to enable a more seamless client experience and consistent touchpoints across the globe.  This organization includes the newly formed Global Clients Division led by Donna Milrod. 

“Bringing together the resources that drive our operating infrastructure, technology strategy and innovation under one leader complements the moves we have made with our client-facing activities to make State Street more seamless.  This will also accelerate our ability to deliver our front-to-back investment servicing platform and become a true technology-driven scale provider,” said O’Hanley.  “These priorities reflect our commitment to solving our clients’ greatest challenges while driving shareholder value.  Lou will work in partnership with Andrew to deliver better outcomes for our clients and the people they serve.”

Since rejoining State Street in 2013, Maiuri has held leadership roles with increasing responsibility and was instrumental in the Company’s recent acquisition of Charles River Development as part of its front-to-back investment servicing platform strategy.  Prior to State Street, Maiuri held various roles at BNY Mellon including deputy chief executive officer of asset servicing, head of the global financial institutions group within the asset servicing business and also as a member of the Operating Committee. Earlier in his career, Maiuri held the roles of chief operating officer and chief executive officer of Eagle Investment Systems LLC and worked at Fidelity Investments in both the fixed income and equity investments divisions. More than two decades ago he served as a vice president in technology at State Street. Maiuri chairs State Street’s Professional Women’s Network, the company’s largest Employee Resource Group.

“I am excited to take on this new role and lead the most transformative parts of our company,” said Maiuri.  “Focusing our resources and our financial and human capital on a common set of priorities and towards a common vision will accelerate our ability to succeed and strengthen our performance and position in the marketplace.  Keys to our success will be driving greater automation, setting industry standards and enabling continuous innovation.”

Liz Nolan, currently CEO for State Street in EMEA, will assume responsibility for Global Delivery, managing the company’s global operations and infrastructure that supports clients in 26 countries and more than 100 markets worldwide. Nolan follows Jeff Conway in this role, who is leaving State Street after a more than 30-year career. Nolan will retain her EMEA CEO and UK responsibilities until a successor is appointed. Karen Keenan, Chief Administrative Officer, has expanded her responsibilities to include oversight for State Street’s Global Markets business, having led the group earlier in her career.  She will continue to report to Ron O’Hanley.

“An early focus of mine as CEO has been to match our leadership talent against our desire to be a high performing organization and the areas that will create the greatest capacity and advantage for us as a firm.  These new appointments reflect this focus,” said O’Hanley.  “I want to thank Jeff Conway for what has been a remarkable career at State Street spanning more than three decades.” 

GoldenSource today announced that it has been selected by Apex Group Ltd. (“Apex”), the world’s fifth largest fund administrator, to deliver its centralised pricing and reference data service. 

GoldenSource’s EDM SaaS solution delivers improved operating and cost efficiencies through the standardisation of data management across multiple business functions. Apex plans to leverage the platform to support its ongoing impressive growth trajectory with the smooth integration of systems and applications.

The Apex Group delivers a broad range of services to asset managers globally, from fund administration and corporate services to middle office, banking and depositary solutions. The group’s total asset under administration (“AUM”) is now $600bn with offices in 40+ locations worldwide. GoldenSource’s centralised pricing and reference data service will support operations as the business continues to scale, providing uniform operational data management and a data store to deliver the highest standards of data quality and lineage across the global business.

Apex plans to leverage the GoldenSource platform and application services to support the smooth on boarding ability of other data types, such as reference and transaction data, to provide a harmonised view of the Group’s data assets. This will enable the on-boarding of further acquisitions to the centralised data repository and make reporting available across the group. 

Chris Mulhern, Global Head of Operational Strategy at Apex: “It’s no simple task when integrating the data infrastructure of separate businesses. We’re looking to standardise, streamline and reduce point-to-point integrations, duplication and the need for reconciliations. A centralised data infrastructure is the best way forward for us, so with GoldenSource we can continue along our current growth trajectory with even greater ease.” 

Jon Hallam, Global Head of OnDemand Services at GoldenSource: “During the selection process it quickly became clear that our track record, long term stability and experience were the right fit to underpin Apex’s long-term plans. We will track and monitor all processing real-time, helping to operate and make changes at a higher frequency, making sure the needs of Apex’s clients can always be met to the highest standards.” 

Paragon Software Group, a global industry leader in embedded and desktop file system drivers, and Visuality Systems, a global leader in commercial SMB (Server Message Block) software stacks, announce their partnership and cooperation in merging SMB server/client and file systems to deliver the best cross-platform SMB solutions for OEMs. Paragon Software Group’s File System Link (FSL) delivers the industry’s best cross-platform tools. NQE™ is a portable client and server solution that can be integrated into any embedded device with any OS, a CPU or compiler. 

With the new partnership, Visuality Systems’ NQE series will be integrated into Paragon’s file system drivers enabling device OEMs active in industry verticals such as automotive, Storage industry, Consumer Devices, Aerospace and Defense, Medical, Industrial Automation, Smart Devices, to deliver secure cross-platform file sharing solution to their end customers. The integrated file sharing solution features secure SMB3 encryption, substantially smaller footprint and memory usage compared to open source stacks, benchmark leading data transfer speeds and unprecedented reliability.

Since its inception in 1998, Visuality Systems has pioneered the SMB protocol for commercial deployment developing the non-GPL licensed NQ™ products – a commercial replacement for open-source SAMBA. The NQ series are utilized in all possible areas from storage, consumer devices, aerospace and defense, medical, industrial automation, smart devices and more.  The partnership with Paragon will provide Visuality Systems the ability to sell the Visuality Systems NQ product line to many more parts of the world and enter into further market sectors. 

Sam Widerman, CEO  of Visuality Systems, said “Visuality Systems is very proud to announce the partnership with Paragon. Both Visuality Systems and Paragon are industry experts with worldwide leading and certified technologies that are utilized in millions of devices around the globe. At the end it is all about customer requirements. Together Visuality Systems and Paragon can provide customers with solutions that are dependable, very well tested and reliable, plus introductions to more market sectors that will benefit both companies.”

Paragon’s strong engineering team that stands behind the Paragon product range is now an extra asset for Visuality Systems to extend not only growth, but assist in keeping Visuality Systems being the de facto SMB worldwide standard with SMB solutions for all SMB market sections – Embedded SMB server and client, JAVA SMB client and an Enterprise SMB server for the Storage market.

Konstantin Komarov, CEO of Paragon Software, commented: “Our collaboration with Visuality Systems addresses the market demand for the performance-optimized file system drivers. NQE carries tremendous flexibility and being integrated into Paragon’s drivers, it brings secure cross-platform file-sharing capabilities to the next generation of devices.”

NQE runs in millions of embedded devices, such as scanners, printers, home routers, mobile devices, automotive devices X-ray machines, automation devices, aerospace and defense, and virtually any device that is required to perform full file sharing functions in a Microsoft Windows networking environment.

Nivaura, a regulated FinTech company focused on automating the issuance and administration processes for financial instruments, has closed a strategic funding round, raising $20m in seed and seed extension capital from a number of prominent partners.

Founded three years ago, Nivaura’s focus is on the deployment of digital investment banking platforms for banks, exchanges and other financial institutions, to connect and automate fragmented and manual processes involved in the issuance and administration of instruments such as any form of debt, equity and structured products. For certain transaction types, this can reduce time to market by as much as 60-80 per cent, cutting cost by orders of magnitude, and ensuring consistent compliance.

This $20m investment, led by London Stock Exchange Group, will allow Nivaura to rapidly expand its leadership, business development and technical teams in order to accelerate growth. Technical market professional hires will enable Nivaura to move faster to complete product development and to ramp up expertise across machine learning and natural language processing, in line with clients’ increasingly complex automation needs. The company also plans to enter new jurisdictions and to cover new asset classes.

As an early example of the senior hires to be joining Nivaura, Richard Cohen, a senior Debt Capital Markets lawyer, is moving from Allen & Overy as Nivaura’s General Counsel and Head of Strategy. Nivaura also welcomes two new board members. Investment banking veteran Spencer Lake, formerly Head of Global Markets and Vice Chairman of HSBC’s Banking and Markets Division joins as a board member, investor and commercial advisor on business development to the team. Nikhil Rathi, CEO of London Stock Exchange plc and Director of International Development, London Stock Exchange Group, who are partnering with Nivaura to drive innovation across capital markets, also becomes a board member.

Nivaura has already successfully proven the platform for structuring, distributing, executing and settling financial instruments both traditionally by enabling settlement through existing clearing infrastructure, and as tokenized instruments that are registered and settled on public blockchains. One such success was the world’s first automated cryptocurrency denominated bond issuance supported by leading capital markets law firm Allen & Overy.

Nivaura’s CEO, Dr. Avtar Sehra, commented: “Our focus for 2019 is on conducting a series of high profile, large-scale projects with high calibre partners to demonstrate our platform as a valuable solution across the full spectrum of capital markets primary issuance activities. Working with such partners with their wealth of experience will underpin our next phase of growth.”

By working with major law firms such as Allen & Overy and Linklaters, in addition to participating in all of the first four FCA regulatory sandboxes, where it gained its MiFID and CASS regulatory approvals, Nivaura has made regulatory and legal rigour core to the platform. This compliance mindset is further reinforced by Linklaters and Orrick becoming investors in the latest seed round extension and Allen & Overy continuing with its support.

Dr. Sehra added: “We’re seeing growing appetite from major financial institutions for practical innovation that goes beyond buzzwords and conceptual PoCs in ‘digital investment banking’. Boards are saying: go forth and innovate. But doing so in the highly regulated and complex world of capital markets is immensely difficult. With our now proven approach and compliance credentials, we are able to finally help our industry take practical steps to innovate and improve their economics.”

Leading the industry with solutions supporting digital financial services offerings, NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, was selected by Circle, a leading global crypto finance company, to implement its market surveillance and protections strategy. Through the usage of NICE Actimize’s Cloud Markets Surveillance (MS)solution, Circle will augment key infrastructure to guard against market manipulation across its exchange and trading products, which currently see more than $3 billion in monthly trading volume.

The NICE Actimize Markets Surveillance (MS) solution enables firms to quickly and cost effectively detect sophisticated forms of market manipulation including pump and dump, layering and insider trading – all significant threats to crypto trading. Also important, NICE Actimize MS’s configurable rules engines reduce false positives and costs by enabling firms to tailor alert thresholds to their customers’ trading activity.

“As a leading crypto finance company, it was important that we work with a leading financial crime solutions provider like NICE Actimize which provides industry-leading solutions for the rapidly changing financial crime, risk and compliance landscape,” said Robert Bench, Head Regulatory Counsel and Chief Compliance Officer, Circle. “Circle has adopted a strong position on policy and crypto-related regulatory issues that focuses on the safety of our customers and investors. Adapting innovative technology solutions, such as the financial markets compliance solutions from NICE Actimize, to meeting the potential needs of regulators and protecting our assets brings this commitment full circle.”

Added Bench, “There are a number of markets surveillance vendors that address traditional asset classes, but we needed a partner that could adapt their traditional market expertise to the unique elements of the crypto market. NICE Actimize was chosen as the partner which could offer that adaptability.”  

“As we lead the digital financial services industry with breakthroughs in artificial intelligence and advanced analytics, NICE Actimize will continue to innovate on behalf of the newest financial product categories, including cryptocurrencies, digital wallets, and more,” said Craig Costigan. CEO, NICE Actimize. “We recognize that Circle is a category leader committed to the highest standards of customer safeguards and are excited to be one of the industry’s first financial crime solutions providers to tackle the exciting new cryptocurrency category with secure and cost-effective protections.”  

Leveraging NICE Actimize’s experience with OTC instruments, the MS solution provides a comprehensive package of surveillance models that enables global regulatory compliance across products and markets. The solution’s proven analytic capabilities offer fully automated surveillance and end-to-end workflow management, investigation, audit, and reporting/dashboard capabilities. The MS solution also utilizes ActOne, the market’s first AI-enabled financial crime investigation management platform that serves as the next generation alert and case management platform.

For additional information on NICE Actimize Market Surveillance solutions, please click here.

Temenos, the banking software company, today announced that Al Rajhi Bank, Saudi Arabia’s second largest bank and the world’s largest Islamic bank with total assets of over $97bn, has chosen Temenos to power its digital transformation journey and enhance its Islamic lending and financing product capabilities. The bank has opted for a complete renovation using Temenos T24 Transact as well as a host of additional digital solutions including Temenos Infinity and Temenos Loan Origination product. 

The signing ceremony, which took place in Riyadh on February 26, was attended by Mr. Waleed Al Mogbel, Deputy CEO at Al Rajhi, Colin Jarrett, Head of Global Development at Temenos and Jean-Paul Mergeai, Managing Director Middle East & Africa at Temenos.

Headquartered in Riyadh, Saudi Arabia, and with a network over more than 570 branches, Al Rajhi Bank chose Temenos to replace its lending systems after a rigorous competitive evaluation. Implementing Temenos software will enable the bank to introduce new lending products to the market and servicing its growing number of customers more quickly and efficiently. The new solution will also support Al Rajhi Bank’s growth ambitions and its vision to bridge the gap between modern financial demands and intrinsic Islamic values, whilst spearheading numerous industry standards and development. The bank, one of the most progressive banks in the Kingdom of Saudi Arabia with a strong focus on customer-centricity, will also be able to offer market-leading products and services to its customers through enhanced digital channels.

The award winning Temenos Islamic Banking Suite, coupled with its Saudi Model Bank application which includes global best practices and pre-configured local functions, will enable Al Rajhi Bank to cater for the specific Saudi regulatory requirements with a very short time and less efforts.

The bank operates in more than 570 branches across Saudi Arabia as well as in Kuwait, Jordan and Malaysia. The bank will leverage Temenos' global expertise and 25 years of experience in providing integrated, scalable packaged software, as well as Temenos' continuous investment in R&D, which is 20 percent of revenues – the highest in the industry.

Mr. Waleed Al Mogbel, DCEO, Al Rajhi Bank, said: “We are delighted to appoint Temenos as our strategic technology partner for our digital transformation. Temenos digital banking platform will enable us to transform faster, drive out complexity and lower our overall total cost of ownership. Temenos has a worldwide reputation for robust, innovative banking software and an extensive presence and commitment in the Saudi Arabia. With Temenos we will be able to introduce new and innovative products more quickly and help reduce operational costs, as well as offer a cutting-edge digital experiences to our customers."

Jean-Paul Mergeai, Managing Director Middle East & Africa at Temenos, said: "We are proud to announce Al Rajhi Bank as our latest signing in Saudi Arabia. Temenos has a strong footprint in Saudi Arabia with 19 clients and this new signing further cements our presence in the country where we have been operating since the late nineties.  Our agreement with Al Rajhi Bank demonstrates our commitment to working with the region’s leading banks to power innovation, growth and success through our market leading technology. Our business partnership with the world’s leading Islamic bank also demonstrates the excellence of our leading and multi award winning Islamic Banking Suite solution and our focus on delivering operational value and efficiency through digital technology to Islamic Finance.

We look forward to working with Al Rajhi Bank as it continues to excel by caring for its customers through the delivery of quality products and services."