Intel CEO inaugurates region's first Finance Competency Center at AUB

The Center was established through a partnership between Intel, HP and Microsoft to create a state of the art technology venue where live demonstrations, research, development and training will be undertaken to serve three main sectors: financial services institutions, software developers, and the academic community.

The Center will bring the latest in Intel® based computing solutions and knowledge to the Middle East's financial services industry, which has a long-standing tradition in Lebanon; it will also allow for joint development of programs with AUB, which is recognized as one of the premier institutes of higher learning in the Arab world.

The Center will showcase the latest in end-to-end technologies, from the high-performance 64-bit Intel® Itanium® Processor-based HP Integrity rx5670 server, to the innovative Intel Centrino Mobile Technology-based HP Compaq Business Notebook nx7000 series. All equipment will run on Microsoft® Windows® Server 2003 enterprise edition and Microsoft® Windows® XP Professional.

These are needed to address topical solution focus areas in Financial Services such as branch automation and electronic payments. Global and Regional software houses developing these types of solutions will use the facilities to develop, test, tune, and optimize their applications on the latest Intel platforms listed above.

'A healthy, technologically advanced banking and financial infrastructure is an absolute must for any market to develop and compete in the new economy', said Dr. Barrett. 'We believe that the Finance Competency Center at AUB constitutes a key platform for the transfer of knowledge and the development of applications that serve the specific needs of the region's banks and financial institutions. Intel has created other such centers in the Middle East, such as the Energy Competency Center in Abu Dhabi; where we cooperated with the government and the private sector to serve key industry sectors including oil and gas, telecommunications, automotive, and manufacturing, and make an impact in enabling technological advancement in this area'.

Another important mission for the Finance Competency Center is to constitute a training venue for banking, finance, and engineering students. Joint programs will be organized by the AUB, where Intel, HP, Microsoft and other IT companies will be invited to conduct training sessions to familiarize students with the latest and most efficient applications that are used in the business world. Students will also be able to use the Finance Competency Center for class assignments, and employers can use the facility as a venue to meet well trained and educated individuals.

'As a major institution of higher education in the Middle East, the AUB considers that it has a duty to provide working forums where the academic and business worlds interact to carry out research and build the solutions that are necessary for economic and social development,' said Dr. John Waterbury, president of the AUB. 'It is gratifying for us to cooperate with world technology leaders such as Intel, HP and Microsoft, on the creation of this landmark facility at AUB'.

The Center is expected to bring cost-effective benefits to more than 400 banks in the Arab world, and 2,500 students from the various faculties of AUB.