Bank AlBilad licenses Sterci's financial messaging software
Sterci, the Geneva based software provider of STP solutions, today announced that Bank AlBilad in Riyadh has signed for Stelink financial messaging solution.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Bank AlBilad is a new Islamic commercial bank, the Kingdom's 11th, who comes from the merging activities of eight money exchangers. The bank got the Saudi government license in November 2004 and will start operation in the coming months. The bank will provide its customers with all banking products and services in compliance with the Sharia i.e. Islamic principle; these products and services will be delivered though the bank branches kingdom wide.
Stelink will be integrated with the Temenos core banking system to process payments over SWIFTNet, SARIE (Saudi Arabian Local EFT) and Telex networks.
Mr. Azzam Abaalkhail CEO of Bank AlBilad says: "We have selected Stelink for its capabilities to connect to multiple networks and its local support in the Saudi Arabia. Additionally, Sterci has facilitated to us the administrative process to join SWIFT as a new member."
Etienne Savatier, director marketing and international sales at Sterci says: "We are happy to partner with Bank AlBilad launching activities. This new project reinforce our leadership position in financial messaging solutions in the Middle-East."