SmartStream creates greater presence in strategically important global financial market to serve clients across the Middle East, New investment strengthens and complements existing presence through distribution partner
SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that it has expanded its global operations with a new office in Dubai based at the Dubai International Financial Centre (DIFC), the world's fastest growing financial centre.
Recognising the importance of one of the world's fastest growing and dynamic financial centres, SmartStream has opened its Dubai office to serve the large and diverse financial community in the Middle East.
Ken Archer, CEO of SmartStream commented: "Establishing an office in the heart of such a strategically important market was always a central part of SmartStream's expansion plans. The Middle East is emerging as an important processing hub in financial markets and is home to some of the fastest growing and most innovative financial organisations, which is driving demand in IT innovation. With a local presence we can build on our previous success in the region and support these institutions' plans to deliver scalable and flexible transaction processing environments."
The Dubai office is a significant step in SmartStream's ongoing direct investment in the region. SmartStream will be offering its range of market leading Transaction Lifecycle Management (TLM) solutions, already used by more than 75 of the world's top 100 banks, direct to the Middle Eastern market. The company's flexible software design ensures it can rapidly deliver solutions that can create more efficient, customer-focused, cost-effective, compliant operations for the region's financial institutions.
SmartStream's office is based within the landmark building The Gate, home of the Dubai International Financial Centre (DIFC). This location, at the heart of a globally important and rapidly expanding financial centre will enable SmartStream to quickly gain momentum in the market, accessing potential customers and partners as well as opinion leaders from day one.
Nasser Al Shaali, CEO, DIFC Authority, commented: "With the ever expanding concentration of financial firms in Dubai and across the region the demand for industry-proven processing software is increasing. As a leading provider of software to the financial services community, SmartStream has a great deal to offer the institutions in the Middle East. We are pleased to welcome SmartStream to the world's fastest growing international financial centre and also look forward to working with them on developing the next generation of hosted information and trade processing services."
To launch SmartStream's new Middle Eastern operations, the office will be hosting a series of client-focused events over the coming months. This will include an official reception in April at The Gate, with CEO Ken Archer and DIFC representatives outlining the company's expansion plans in the region. The following month will see a SmartStream Solutions Day providing prospects with an in-depth review of the company's TLM technology and how it can benefit their organisations.
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About SmartStream TechnologiesSmartStream Technologies provides industry-leading Transaction Lifecycle Management (TLM®) solutions that deliver automation to previously manual and error-prone processes within banks, asset managers, broker dealers, custodians, insurers and corporations.
1,000 clients, including more than 75 of the world's top 100 banks, rely on SmartStream's highly robust, scalable TLM solutions to control complex and disparate processes, comply with regulatory demands and address customer service, while reducing operational risk and cost.
For more information about SmartStream, our products and solutions visit: www.smartstream-stp.com
About the DIFC
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just three years, over 550 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
For further information please contact:
Alastair McGill
Marketing Director
SmartStream Technologies
Tel: +44 (0)20 7898 0605
email: alastair.mcgill@smartstream-stp.com
website: www.smartstream-stp.com
Belinda Morris
College Hill
Tel: +44 (0) 207 457 2059
email:belinda.morris@collegehill.com
Amira Abdulla
Dubai International Financial Centre
Tel: +971 4 362 2433
E-mail: amira.abdulla@difc.ae
Shaima Al Zarouni
Dubai International Financial Centre
Tel: +971 4 362 2432
E-mail: shaima.alzarouni@difc.ae
© Press Release 2008
