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FinArch opens new office in Dubai

Dubai-UAE/Ghent - 22 April, 2009 . Dubai Internet City (DIC), a member of TECOM Investments, today announced Financial Architects (FinArch), an international provider of a Finance Resource Planning (FRP) platform, has opened a new branch in Dubai.

Headquartered in Belgium, FinArch has offices in the US, the UK, Luxembourg, Spain, and Singapore. FinArch’s new office in Dubai will focus on the business development, sales and marketing of its risk and financial management software.

Malek Al Malek, Executive Director, Dubai Internet City, said: “It is our prime objective to affiliate with pioneers in various segments of the ICT sector that will contribute to expanding the range of business partners within our community. The presence of FinArch in Dubai will immensely benefit regional companies that seek expertise in Finance Resource Planning (FRP). We will continue to focus on partnering with companies that provide niche products and solutions. The cluster’s state-of-the-art infrastructure and the community of industry peers have strongly worked in favour of Dubai Internet City despite the current global economic situation. We, therefore, feel extremely confident about setting new milestones in DIC’s development.”

FinArch has implemented solutions worldwide for more than twelve years, and has experienced a dramatic increase in demand for its Financial Studio solution. To meet this ever increasing demand for its solutions and to serve its existing customers more closely, FinArch already recently expanded its Business Development team in APAC, Europe and in the United States. With the opening of this new office in Dubai now, FinArch wants to better serve its strong network of customers in the Middle East, and wishes to increase its local presence in this area.

FinArch’s Dubai office is led by Mounir Baccouche. Prior to FinArch, Mounir Baccouche was General Manager for EastNets and Ejada, two regional solution distributors and systems integrators. Other experiences include management positions with several Middle East banks.

Nigel Lee, Chief Commercial Officer for FinArch, said: “I am very excited by the challenges and opportunities for FinArch in the Middle East. Opening our new office in Dubai is the logical thing to do in terms of supporting our clients in the region and meeting the ongoing increase in demand for our solutions.” Lee added: “Our solutions are perfectly positioned to enable Middle Eastern banks to exploit the current economic situation. Basel II along with a host of strategic Risk and Capital Management functionality will better position our clients to increase return on capital and risk adjust performance measures to accurately assess the day to day success of their business. With an increase in regulatory control in the region and early adoption of new standards and reporting obligations, FinArch’s FRP based solution will provide our customers tremendous economies of scale in choosing 1 platform to serve multiple functional needs.”

“Financial Transformation is the key to creating a more efficient and more effective financial institution. FinArch’s market leading Sub-ledger solution will give banks in the region an opportunity to gain greater clarity and greater efficiency in their accounting and Financial MIS activities.” Mounir Baccouche, Vice President for Regional Development, FinArch ME states. “I am proud to open FinArch’s first office in the region. I believe we have the perfect combination of solutions, skills and experience to be a valuable strategic partner to banks in the Middle East and to strengthen our commitment to our existing customers.” Baccouche reflects.

During the first quarter of 2009, DIC welcomed 32 new entities to its FirstSteps@DIC Business Center, complementing the 128 companies that joined the cluster in 2008. Hosting most of the 1,300 specialised global industry leaders including many of the Fortune 500 companies, Dubai Internet City has emerged a global ICT hub, while catering to the region's increasing focus on creating knowledge-economies.

For more details, please contact:

Salam Kitmitto
Associate Account Manager
Mounir Baccouche
VP Business Development

JIWIN Public Relations
Al Thuraya Tower 1
Dubai Media City

FinArch ME,
a branch of Financial Architects nv
Building 14 Office 115
Dubai Internet City

tel: +97144332547
email: tel: +971507788526

About Dubai Internet City

Dubai Internet City (DIC), a member of TECOM Investments, was established in 2000. It is currently regarded the Middle East's largest information and communications technology (ICT) cluster. Built as a strategic base for companies targeting emerging markets in several neighbouring regions, DIC’s core focus area extends from the Middle East to the Indian Subcontinent, and from Africa to the Commonwealth of Independent States (CIS), covering nearly three billion people with a GDP of over US$10 trillion. As a knowledge-oriented business model, DIC has created a dynamic international community of IT companies hosting business partners that include most of the Fortune 500 brands, as well as a number of small and medium enterprises and ventures. In 2008, 140 new companies joined the DIC cluster.

About Financial Architects

FinArch (Financial Architects nv), with offices in the major financial centres worldwide, is a global value leader in providing a new generation of financial management software. The concept of the platform and the integrated approach of the different modules enable innovative financial institutions to quickly implement tactical solutions meeting the overall strategic objectives in financial reporting. FinArch provides a unique blend of domain expertise, operational services, and technology solutions that accelerate and facilitate financial institutions’ ambition to implement a cost effective and reliable financial management platform.

FinArch's flagship Financial Studio is the first fully integrated finance resource planning (FRP) solution for banking and financial institutions. Financial Studio solves the specific needs of the finance sector and addresses all the factors involved in the convergence of risk management and accounting practices across all banking and financial disciplines.

Publisher Contact Information:

Financial Architects (FinArch)

Company profile of FinArch (acquired by Wolters Kluwer Financial Services)
Past press releases of FinArch (acquired by Wolters Kluwer Financial Services).


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