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Saudi Arabia 'top digital banking market in Mena'
July 16, 2018

Saudi Arabia has emerged as the top digital banking market in the Middle East and North Africa (Mena) region, with more than three-quarters of banking customers in the kingdom using online or mobile apps, said leading industry experts.

A recent survey of regional banking customers by research firm ArabNet found that 76 per cent of Saudi banking customers use digital platforms, and 60 per cent use online and mobile apps, both ranking highest in the region....

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Bank of America Reports Second-Quarter 2018 Financial Results
July 16, 2018

(AETOS Wire)-- Bank of America reported its second-quarter 2018 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

Saudi Banking Sector Exceeds Basel I Requirements
July 7, 2018

A Saudi official has said that Saudi banks capital adequacy in the first quarter of this year exceeded 20.4 percent, surpassing the Basel I committee’s requirements of capital adequacy by two and half times.

Secretary General of the Committee on Information and Awareness Raising in Saudi Banks Talaat Hafez told Asharq Al-Awsat that liquid assets reached in the current year 20.6 percent, a high rate of financial efficiency in terms of liquidity"...

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Kuwait National Exchange Rebrands as Unimoni
July 5, 2018

Kuwait National Exchange WLL, a leading money transfer and foreign currency exchange provider and a member of the UAE Exchange Group, announced its rebranding as “Unimoni”. This makes Kuwait the second country in the Group’s global network to adopt the Unimoni brand. Unimoni, short for “Universal Money”, will drive the agenda of providing a broad spectrum of innovative financial services across geographies, currencies and channels, enabling"...

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Jumhouria Bank of Libya Selects SmartStream to Deliver Real-Time Operational Control
July 4, 2018

(AETOS Wire) -- SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced Jumhouria Bank, the largest bank and branch network in Libya, has signed a deal for SmartStream’s Corona solution for the delivery of intra-day reconciliations management across cash, cards, branch, central bank and payment transactions.


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DirectFN supporting HSBC Saudi Arabia to be first electronic custodian in KSA
June 30, 2018

HSBC Saudi Arabia, one of the largest custodians in the Kingdom of Saudi Arabia, has succeeded in becoming the first company to establish the first electronic link for a custodian with the Saudi market through the ICMS Central Custodian System offered by DirectFN.

The connection between HSBC Saudi Arabia and the EDAA ICM Central Depository System based on the central Custody system (ICMS) provides a variety of services through which to conduct operations"...

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Deutsche Bank Moves Reconciliation Services to SmartStream to Further Improve Processing and Reduce Costs
June 20, 2018

(AETOS Wire) -- As part of its transformation strategy, Deutsche Bank has selected SmartStream Technologies’ Centre of Excellence (CoE) to provide an off-site operations platform - including three services which will allow the bank to streamline, simplify and reduce the costs of its reconciliations environment. With the growth in volume of reconciliations, the processing of large quantities of data has become complex. Many financial institutions are exploring utilities to ensure accuracy and cost savings. With the addition of the CoE to Deutsche Bank, SmartStream will provide the bank with three distinct managed services: Reconciliations On-Boarding, Production Support and Operational Reconciliation Services. The new services will improve processing of reconciliations by making it faster and more cost-effective. The integration of the overall service will be done in a phased approach, where Deutsche Bank will increase productivity and reduce costs through......

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