With the growth of business in the Gulf and the Middle Eastern region, there is an increased involvement of banks with new technology, says Albawaba.com.
Jumana Mashraqui, senior conference producer with Fleming Gulf and responsible for the Banking Technology Forum, says there is a need to keep pace with the rapidly changing business environment.
The conference is targeted at CIOs, CTOs and management teams of the Middle East Banking and Financial Services Industry to address the issues that are challenging the banking industry.
UBI to invest
United Bank of India has committed an investment of Rs 250 crore on IT for the next financial year, says Business Standard.
The investment will cover a massive roll-out of core banking solutions (CBS), online share trading facility, phone banking and cash management services among others.
The bank has already rolled out CBS in 201 branches covering 57% of its business. It plans to increase the number to 350 branches by the end of this fiscal and double that number by March, covering 90% of its total business.
Bank chooses Open Solutions
People's Federal Savings Bank announced it has selected Open Solutions' The Complete Banking Solution, says Fox Business.
The bank is migrating from Open Solutions' TotalPlus outsourced core data processing platform to The Complete Banking Solution, which the bank will operate in-house.
The Complete Banking Solution is built on a centralised Oracle relational database designed to be an open architecture application, creating the flexibility necessary for running a service-oriented financial institution.
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