Temenos and Saudi Business Machines Join Forces for Banking Solutions
Saudi Business Machines (SBM) has become a systems integrator partner of Temenos. SBM staff, trained by Temenos, will be in a position to implement Temenos T24 core banking software and provide post-live services to customers in Saudi Arabia. There is a strong growth in the financial services sector across the GCC and broader Middle East and North Africa (MENA) region with subsequent increases in IT investments and spending which totalled $1bn in 2003 by the financial services industry, or approximately 12.5 per cent of total regional information technology spending. (Source: Middle East North Africa Financial Network, Inc. 2004). Thomas Tattis, SBM country manager, professional services, comments: “We are proud to partner with Temenos. Combining our regional experience in system implementation, integration and support services for the Temenos T24 banking solution to customers in Saudi Arabia, gives us a leading edge in the financial industry.” SBM was established in 1981 and has over 500 employees.