Pennant’s association and its role is rightly acknowledged by Commercial Bank of Qatar in its recent case study published in IBS Intelligence Lending Supplement…
July 14, 2015 Hyderabad – :Pennant Technologies, a leading banking software products services company announced today that its association in a IT transformation initiative at its long standing customer, Commercial Bank, Qatar has been highlighted as a featured case study in the current lending supplement edition of proudly independent banking journal, IBS Intelligence.
The case study titled “Old Core New Rules” provides fascinating insights for banking technology professionals in building a business case on the journey towards achieving the SOA based architecture by developing the business services and service requests adopting IFX and BIAN around core banking application in a phased manner so as to meet the ever changing business requirements while aligning with the long-term IT strategy of the bank.
pennApps Unified Processing platform played critical role in the transformation journey by offering the required modularity, high-level of flexibility, enhanced transactional control framework for various business services that are being added to this platform and integrating with the existing core banking application leveraging IFX and BIAN standards.
“This first project with Pennant went well, with the work being good quality and with deadlines met, says Margaritis”.
Pennant positioning its unified processing platform to enable banks to achieve process automation in unified manner with comprehensive enterprise wide control framework to overcome the operational challenges due to the heterogeneous mix of applications with varied processing and control capabilities that are more so common in any typical application landscape of the bank. The powerful processing capability of the platform enables banks to add bank specific business services that are part of the disparate systems to one single platform so as to achieve operational efficiency effectively leveraging rule based enterprise class workflow capabilities.
Pennant started working with Commercial Bank for many years and played pivotal role in this transformation initiative right from the beginning which was acknowledged rightly in the case study. Pennant attributed its success to the years of association with leading banks across the Middle East that enabled Pennant to acquire the market dynamics and especially the intricacies that are typical to bank’s IT application landscape.
Pennant ensured the all the right ingredients in its product suite to address such challenges cost effectively and in phased manner. pennApps Unified Processing Factory comes with all the standard features including functional product factories, rule engine, BPMN2.0 compliant process editor, rule based enterprise class workflow thus enabling the banks to quickly add business services and accelerating the time-to-market.
“We are pleased to be part of this major transformation initiative at Commercial Bank, Qatar and we are extremely honoured to have this Case Study featured in the Lending Supplement of the IBS Journal known for its global and independent perspective on financial technology”, said Rama Krishna Raju Eepuri, CEO and Director of Pennant. “Our continued engagement with long standing customers like Commercial Bank, Qatar stands true testimony for our commitment in delivering the right fit solutions and we thank Commercial Bank for their open contribution to this case study. We believe the insights provided in this case study would benefit many other banks in the region and also around the world Banks as it provides the concrete insights on what a bank can achieve with right planning and approach without all of the lengthy and complicated initiatives of replacing core banking systems.”
The case study can be download clicking here
Pennant Technologies, dynamic and innovative software solutions and services company offers comprehensive suite of end-to-end business driven technology services and next generation software products covering all the functional areas of BFSI vertical. Pennant offers the right-fit and next generation products that address the unique requirements of banking. The suite of offerings includes Islamic Finance Factory, Cross Sell, Interactive Communication Manager, Enterprise Social Media Management, Notification Manager, Lending Factory, Direct Debit, Host Integrator, Utility Bill Pay and Business Continuity.
Pennant’s suite of solutions and services encompasses Enterprise Application Integration Services, Application Services comprising Application design, development, maintenance services and Consulting services comprising IT consulting and Business Continuity Management services.
Pennant empowers its customers to effectively address their business challenges with its deep domain expertise backed with excellent insights of local market dynamics and leveraging the latest technology advancements.