To: Sunday, November 09, 2014 05:00 PM
Intercom in cooperation with Smart Stream showcase new banking solutions at 3rd Annual Banking Technology Summit
Intercom Enterprises, leading system integrator and banks’ solution provider in Egypt and SmartStream, the pioneer in providing Transaction Lifecycle Management (TLM®) solutions, today launched the latest version of SmartStream’s Corona solution and three new products that deliver operational control and excellence to banks and financial institutions at the 3rd Annual Banking Technology Summit, which is held between 9 – 12 November.
During the event, the two companies will showcase unique products that offer financial institutions new solutions to enable them to retrieve inbound and outbound payments across their back-office systems everywhere. In addition to automating charge-backs; reconciliation process for high volume cards; new fraud preventions features; and finally automating and verifying interchange calculations, which currently account for up to 30% of overbilling.
“With nearly 35% of executives worldwide intending to adopt operational control system by 2016, we are seeing a strong desire from the banking sector in Egypt. Decision makers are budgeting for automated solutions, driven by the need to centralize and automate the operational and financial control processes for risk reduction, regulatory compliance, and process improvement”, said Waleed Sultan, Managing Director for Intercom Enterprises.
“We are very excited about the valuable savings and operational excellence that Intercom and SmartStream’s Corona can bring to the industry. Our sponsorship for the Banking Technology Summit is part of our increased investment in the Egyptian market, and our commitment to bring Operational Excellence to the Banking Sector is aligned with the positive economic indicators Egypt is witnessing”, continued Sultan.
Specialists from both SmartStream and Intercom will also explain and demonstrate these solutions, which are used by over 60 MENA banks, including Banque MISR and United Bank Limited in Egypt.
“Today’s highly regulated business environment demands real-time operational and financial control. COO’s & CFO’s need to have the ability to understand the end-to-end transaction flowing through their organization via interactive dashboards. They should be proactively alerted if internal benchmarks are breached. Our drive for innovation gives our customers a genuine edge over their competition”, said Pritesh B. Kotecha, Vice President Middle East, Africa & South Asia at SmartStream.
“World-class technology combined with local expertise gives our customers low risk and high success. Intercom is an Egyptian Centre of Excellence for SmartStream’s leading Operational and Financial Control solutions”, concluded Kotecha.
Intercom Enterprises and SmartStream have been in partnership since 2011 and are increasing investment to bring world-class solutions and services to the Egyptian Financial Services, Telecoms, and Government markets.
The 3rd Annual Banking Technology Summit aims to highlight industry innovations and stimulate strategic dialogue around the most pressing topics in the banking sector to drive progress and improvements for Egyptian Banks.