SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that it has expanded its global operations with the opening of a new office in Riyadh WTC.
Through the centralisation of its Middle East operations in Dubai, SmartStream has experienced unparalleled growth necessitating the launch of this newest office. Demonstrating a continued commitment to the region the Riyadh office, to be managed by Pritesh Kotecha, Senior Vice President for Middle East, Turkey, South Asia and Africa, will provide SmartStream a new base of operations affording it the ability to meet regional customers’ needs more quickly and proactively.
Commenting on the increased market presence, Mr. Kotecha said: “As one of the key markets in the Middle East, a local presence in Saudi Arabia was a logical next step for SmartStream’s expansion. The new office is an important phase in our development and demonstrates our intention to continue investing in this region.”
Kotecha added: “Like much of the world, financial institutions within the Kingdom are facing increasing client and regulatory demands. To deal with these demands, they are continuously looking for better ways to achieve greater efficiency and control, reducing cost and risk from their middle and back office. Currently, SmartStream is working with 40 of the top regional banks in the GCC providing a variety of enterprise-wide solutions delivering unparalled savings, cost reduction and greater information transparency. There are currently over 100 resources across seven SmartStream offices within the region who are working on some very exciting projects in the areas of operational risk, alternative payments risk, liquidity risk and, enterprise fees and billing.”