SunGard Financial Systems has opened a new Middle East headquarters at the Dubai International Financial Centre (DIFC) as it looks to expand its presence in the increasingly lucrative region.
The vendor says the move will help it extend its local support and implementation capabilities to a regional customer base of over 50 financial institutions as well as gain new business.
SunGard has targeted Islamic banks, offering a Shariah-compliant suite for deposits, loans, credit cards, trade finance and treasury. The vendor now says it will extend the number of systems and services it provides to the region.
In September, Wissam Khoury was appointed managing director of the SunGard Financial Systems Middle East operations. Khoury was previously regional manger for Misys Treasury & Capital Markets in the Middle East and Africa.
Says Khoury: "The finance sector in the Middle East has been growing in size and strength, and Dubai is now an important international finance hub. By expanding our operations in the region, and enhancing our solutions to meet specific regional requirements such as Shariah law, SunGard is helping the DIFC, its members and the region to sustain its growth."
In July the firm outlined plans to add 300 new hires to its Indian operations in Pune and Bangalore over six months. SunGard plans to raise its headcount in India to 2000 by early 2009, as it injects more resources into its substantial R&D and sales support operations on the sub-continent.