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HP wins $25 million worth of core banking contracts

21 August 2002  |  3456 views  |  0 HP

HP has announced five new core banking technology agreements valued at more than $25 million over the next two years with Taiwan's Taishin International Bank, National Commercial Bank of Saudi Arabia, China Everbright Bank, National Bank of Kazakhstan, and Dubai Bank.

The five banks have signed contracts to implement HP Superdome servers to support real-time, online core banking, as well as provide interfaces to 24x7 telephone banking, Internet banking, ATM transactions and future services.

Dubai Bank, one of the United Arab Emirates newest banks, has selected HP to provide a solution ranging from business services consulting and design to infrastructure execution. The offering will support Dubai Bank's core banking system, branch automation system, ATM switch, call center, CRM and Internet banking offerings.

"We intend to use technology to drive our business and develop exceptional new customer-centric banking products and services," says Ahmed bin Brek, chief executive officer, Dubai Bank. "With HP as the prime contractor, we have a solid backbone through which we can deliver these services."

According to analyst reports, core banking is one of the fastest growing segments in the finance industry. HP says it intends to be the leading open systems core banking solution provider, offering its solutions as a preferred alternative to legacy mainframe-based systems.

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