Ajman Bank announces new partnership with Network International

Following the opening of the Bank's flagship branch, Network International, the leading card solutions provider in the region, will effectively manage all card related services from transactions and personalisation to switching and clearing.

Work between the two entities was put into action in 2008, with the inauguration of Ajman Bank first flagship branch, the bank is currently in the process of expanding its ATM network to provide more choices and reach to a wide range of network including all other ATM within the switch whereby Ajman Bank is offering a very competitive advantage by exempting their customers from payments of the switch usage fees. This makes Ajman Bank customers in a distinguished position to use any ATM in the market for free.

Network International will now manage Ajman Bank's ATM network which will involve acquiring ATM and POS transactions for the Bank and transactions settlement. In terms of system and functional support services, Network International will also manage the essential credit as well as the debit card system which will be interfaced with the Bank's core banking platform. Finally, Network will offer full MIS reporting and risk management across the full Ajman Bank card portfolio, all in compliance with Sharia'a principles.

Acting CEO of Ajman Bank, Ali Essa Al Shaqoosh Al Mueen commented: "The decision on behalf of Ajman Bank to outsource its card processing and management services is not only a cost effective move, but one which allows the Bank to focus its time and resources on key strategic & core activities. This is always our strategic focus to maximise opportunities in favour of our ultimate goal of serving our customers in a distinguished manner, while use and maximise available technology in the most efficient way to control cost as well. In the final analysis, it is about delivering what our customers want, when they want it this will continue to be our strategic focus to build the powerful brand of Ajman Bank."

Maruf Ahmed, Head of Retail at Ajman Bank made the following comment:

"With their exceptional experience in the industry, Network International was the obvious choice. Our strategic intent is to focus on & leverage our proficiencies in managing core business. Outsourcing arrangements like we have with Network International will enable us to offer quality services to our customers in a cost effective manner. By using the services of Network International we will not only create efficiencies, but we will free resources to concentrate on areas where we have expertise such as customer service, financial advisory, risk management and business development."

Commenting on the tie-up, Abdulla Qassem, Chairman, Network International said "Network International has, over the years, amply proved its ability to nurture and grow relationships with its partners by offering best-in-class technology platforms and a customer-focused approach. The end-to-end cards management solution that Ajman Bank has requested is our forte and we are confidant that our teams will together be able to develop synergies that will benefit both entities."

Mr. Ram Chari, CEO, Network International, added: "Our total cards solutions offering is robust and tested - allowing partners such as Ajman Bank to focus on their areas of expertise, which is banking. Our teams and technology, employing world-class best practices, ensure that we become an integrated arm of our partners, providing security, speed and continuity across all our business relationships."