Aspidex Technologies establishes operation as the Middle East's leading e-banking application servic

Aspidex Technologies - founded by Rasmala, the prestigous private equity investment group - has established operations in the Middle East to provide turnkey e-finance solutions and business consultancy to both banks and financial institutions throughout the region.

"With the growing use of the Internet as an essential business tool worldwide and with increasing focus on deregulation policies in the financial sector, the implementation of reliable e-banking solutions is becoming a top priority for the financial industry throughout the Middle East," said Izzat Dajani, CEO of Aspidex Technologies.

"Today, out of the top 100 banks in the Middle East, only 18 have online transactional capabilities. To retain competitive advantage, therefore, banks and financial institutions in the region need advanced Internet banking solutions that not only automate internal work processes and sustain long-term relationships with their clients, but also enable them to grow their customer base with a minimal total cost of ownership," added Dajani.

"Best-of-breed" Internet and e-Banking Solutions
In order to provide advanced e-banking solutions to the Middle East's financial sector, Aspidex Technologies has entered an exclusive relationship and equity partnership with Corillian International, the global provider of eFinance enabling software, to offer Corillian's Voyager ASP Internet banking platform. Aspidex is also able to offer Corillian Voyager (The Operating System for eFinance™) as an on-premise solution to banks requiring that option.

Aspidex's service provides the region's financial institutions with a host of benefits that include: real-time access to client accounts, enhanced bill payment and presentment capabilities, customized storing and tracking options, and the interoperability of statement data systems with other financial management software platforms, such as Microsoft Money.

Aspidex offers a unique ASP business model in running its operation. The company actually "leases" its offering to client banks without compromising the banks' data confidentiality and security.

This model enables Aspidex's customers to focus at their core competency - banking - and leave IT considerations to Aspidex's expertise.

"Banks will still retain all their data within their own infrastructure," said Ibrahim Metwally, Head of Marketing at Aspidex Technologies. "The entire front-end Internet banking applications are supported and maintained by Aspidex's hosting centre, which provides services to multiple client banks," added Metwally.

In addition, Aspidex's solutions enjoy a 'speed-to-market' feature that allows banks to commence their online banking operations within a period of 10 to 12 weeks after the initial agreement.

"Aspidex's offerings are custom-designed to meet the specific e-banking needs of financial institutions in the Middle East," said Dajani. "We are confident that the solutions Aspidex provides for the banking industry in the region will further advance their productivity and profitability while enhancing their customer relations," continued Dajani.