Toronto-based 724 Solutions is reporting three mobile banking wins in the Middle East and has contracted with local firm International Turnkey Systems (ITS) for implementation.
The two companies are working together to integrate 724 Solutions' wireless Internet platform into the banks' existing electronic banking infrastructures. The platform consists of adaptors, gateways, core engine services and an application framework for powering highly scalable, secure mobile transactions on different devices, networks and protocols.
Qatar Islamic Bank first launched the technology in the State of Qatar in January. The Bank of Kuwait & Middle East and Doha Bank-Qatar plan to launch by summer 2001.
According to a new study released by The Strategis Group, cellular and third generation (3G) technology subscribers in the Middle East and Africa will increase from 15 million in 1999 to 65 million in 2007.