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Experts: the future of the banking sector in the region is heading for a quantum leap thanks to the


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Experts: the future of the banking sector in the region is heading for a quantum leap thanks to the

Post by rocky on Wed 18 Sep 2013, 3:41 pm

Experts: the future of the banking sector in the region is heading for a quantum leap thanks to the latest technology code

September 17, 2013

Experts agreed and executives on the future of banks in the region is tied to modern techniques كالحوسبة cloud computing الذاكرية and mobile solutions, at the time predicted the recent study of the company "سيلينت" be up spending banks on information technology this year to about $ 180 billion. The experts added that the cloud-based services-mail does not currently only accounts for a small fraction of this spending, some estimates suggest that spending is expected from financial services companies on cloud solutions, whether public or private, or hybrid, will reach $ 26 billion in 2015.

Has supported this idea exploratory study other modern prepared "PricewaterhouseCoopers" and targeted executives in the financial services sector, he said 71 percent of them said they would increase their investments in cloud computing this year, after it was 18 percent only of the respondents in the study of the past year 2012 has said the same thing. In addition, he said, half of the participants in the study said they are planning to invest in private cloud technologies.

The Ross Wainwright, global head of the financial services sector to "feed ABN", a giant business software world, that banks in the region need to recognize the enormous potential offered by innovative technologies, noting that the uncertainty that damage the transactions and oversight, and the lack of flexibility, and points of failure multiple and complex infrastructures, as well as a large maintenance costs and experience, things that can not be ignored.

The statement came Wainwright at a time when the Middle East and North Africa take cloud computing technologies into account more than ever. And expects "Gartner" that the region is facing one of the highest global growth rates of public cloud services, with an annual increase between 2012 and 2013, an increase of 24.5 percent, to reach $ 462.3 million. It is likely that the UAE market is particularly remarkable activity in this regard, in the light of the expectations of the company "IDC" to investigate the UAE compound annual growth rate of 43.7 percent until the year 2016.

He spoke today and Wainwright in an interview during the "Saibus," which began its activities yesterday Monday, September 16 in Dubai, along with a number of major financial institutions such as Emirates NBD and Abu Dhabi Commercial Bank, Bank of Tokyo - Mitsubishi UFJ, Bank of America Merrill Lynch, Citi Deutsche, explaining that the demand for more innovation in the financial services sector pay a boost creation of a network "feed ABN" for financial services, linking institutional clients with financial services providers in the cloud, and that one of the challenges facing the coffers of Finance is banking relationships. He also noted that the network "feed ABN" fully managed financial services on existing computing Almakria the solutions on the platform of "Hannah" feed AB.

He said Wainwright: "needs a critical feature Treasury in companies and institutions to roads faster and simpler to connect them with their partners from the banking sector, which allows them to see a comprehensive and expanded on the financial situation of their institutions, and permeable always to all their information bank, and this is achieved it easily through the adoption of banks Technologies cloud computing. "

Finally, Wainwright said: "Can one service of this kind to achieve communication desired between officials of the Treasury in the institutions and banks that work with them. This service allows great potential, including post-specific data that the system of payments, the status of payments, bank statements, in addition to أتمتتة collections, and financial adjustments, and update the system of premiums, and financial reporting., as well as a number of financial operations of the other major on a common platform., and most of all that this service could pose the same time platform can be built upon many of the analytical applications that harness all those data and information in the preparation of reports. "

The long tended companies, so far, to deal with its banks over specific points, a situation that creates multiple silos to save the information is difficult to obtain a single vision of the financial positions of those companies and the extent of liquidity enjoyed by all banking institutions.

The network "feed ABN" for financial services, hosted by "S ABN" as an on-demand product, service link between the company and the bank in the form of a network across parties can achieve a clear and continues to. Customers can companies issuing bills payments and inquire about their accounts using analytical tools immediately, while not stop using banks have when submitting reports in a timely manner, but also extends to include, according to the company "feed ABN", provide additional services whenever discovered opportunities for through Analysis of transactions conducted by customers.

The network also aims to facilitate the management of the underlying transactions between banks, companies and financial treasury services providers. The field is available, as part of the development of the network, in front of banks and companies that make a sustained contribution to the expertise and resources in order to develop a road map real help to achieve integration, connectivity and service in the financial sector among all the parties a full investigation.

, Said Samer Alkharrat, Executive Director of the company "feed ABN" The Middle East and North Africa that the banking business is subject to turning a huge and fast, stressing that the future of the Middle East and North Africa will be heavily influenced by the strong technical and Sinkad, and added: "We will see market forces and customer demands pay banks increasingly to include its technology related to each of the cloud, and mobile systems, systems analysis, applications, and databases, institutions that want to lead and innovate and maintain its customers and open up to them new opportunities can not stand idly by, especially at the background big development plans in the region. " Kharrat considered to be inevitable steps of change in this sector, and expressed his pride in the pioneering role played by the "S ABN" in achieving all of that.

It is expected to be enhanced to accept the sector solutions revolutionary such as the "S-ABN" financial services thanks to the strong position and profile of the company in the financial services sector in the Middle East and North Africa, a fact confirmed today by Emirates NBD and Abu Dhabi Commercial Bank on the sidelines "Saibus."

For his part, Emirates NBD how transformation techniques to "feed ABN" When I was making strenuous efforts to deal with the impact of rapid growth in its operations on its ability to collect customer data and transactions and analysis.

The focus of the Bank's efforts to apply the software database is able to cope with the complexities arising from the significant growth in the size of the Bank's operations, and to enable those responsible for data analysis to avoid any delay in the receipt of reports, in addition to reducing expenses data storage, which have become longer a problem where grown database sizes up to 14 terabytes. Following the application software "Sybase IQ" of "as ABC", could Emirates NBD to reduce the time required to conduct a survey اجتيازي of data collected over five years to just two minutes, also benefited Bank of algorithm pressure which is characterized by software "PSA me "to compress data size of 14 terabytes to 4 terabytes only, and reduce the number of servers from four servers to only one server.

Said Fouad Mohammed, vice president of applications and the development of Emirates NBD Group: "provided us with software" Sybase IQ "of" as ABC "more time availability in addition to speed and efficiency in the decision-making process."

Mohammed said: "helped us this command in an increased focus on how best to meet the needs of our customers, rather than make the effort on technical data management, and we are now improve the utilization of the functions of business information and spend less time waiting for the results of inquiries complex, Fbermjiat" Sybase IQ " means faster data processing and lower administrative expenses., and for us this is a complete success in terms of the total cost of ownership. "

In turn, the keenness of Abu Dhabi Commercial Bank are also on display outlines of his successful with "S ABN", has implemented the bank a range of solutions from the company "Arriba", a subsidiary of "feed ABN" is working to host the software working on the web in the cloud to connect suppliers and buyers online. The Bank currently manages procurement processes within the solution based on "programming as a service" provided by the company "Arriba", a solution that can deal with the majority of expenditures through negotiation over the Internet, including complex categories such as legal services. The bank says this has led to savings of millions of dirhams.

The Bank also manages the procurement and payment within a solution based on "programming as a service" from "Arriba", helped him to stay flexible and to ensure control and compliance among vendors, contracts and regulations, buyers and financial institutions. This solution means that resources can be extended to suppliers and operations management, budgets and approvals and payments management of vital active on a global basis.

Maher said raisins, Head of Procurement at Abu Dhabi Commercial Bank: "achieved" feed ABN "make a big difference in our ability to run critical tasks in the cloud, we were able to achieve significant savings in time and costs so far, in addition to higher levels of efficiency and productivity."

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Re: Experts: the future of the banking sector in the region is heading for a quantum leap thanks to the

Post by Neno on Wed 18 Sep 2013, 4:31 pm

By following the money (Banks) and many are ready for Iraq, I say we in the right place just never have known the timing... ;)

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