Emaar signs HP to supply IT infrastructure for new Bank

The contract was signed following a competitive bidding process involving several global IT majors.

HP, as the Systems Integrator for the new Bank, has inducted Kindle Banking Systems to provide advanced banking application solutions. The two IT companies have a strategic worldwide partnership to supply software and customer services to financial institutions.

Mr Ahmed Bin Brek, CEO of the new Bank, said: "We intend to use cutting-edge technology to drive the business and develop exceptional new customer-centric banking products and services. With HP as the Systems Integrator and Kindle's innovative banking application software we will have a solid backbone through which we can develop and deliver these services. We have a clear advantage in that we have no legacy systems or processes to consider when creating this new infrastructure."

HP's Regional Director for the Financial Sector, Patrick Hayati, said: "I am excited to be involved in such a ground-breaking regional banking project. HP will work closely with the new Bank to provide it with the latest banking technology solutions, which will ensure the Bank stays way ahead of the field in terms of service provision."

The Bank is currently working closely with strategic consultants to create the infrastructure, processes and products for the new financial entity. The Bank will be involved in all aspects of the banking business and offer products and services for both individual consumers and corporations through a number of different delivery vehicles.
The long-term vision for the new Bank is to become a catalyst for growth and innovation within the UAE and regional banking and business sectors. The Bank will play an important role in positioning Dubai as a centre for banking and technological excellence, as well as a bridge between financial services in the Middle East and the rest of the world.