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National Bank of Egypt (UK) Limited becomes 10th UK Equation Customer to implement DataStore from Hitec

Hitec Laboratories, the specialist Compliance, Risk & Performance, and Electronic Document Management & Delivery solutions developer have announced that the National Bank of Egypt (UK) Limited (NBEUK) have become the 10th Equation Customer in the UK to implement the DataStore® Electronic Document Management suite of solutions.

National Bank of Egypt in the UK is a wholly owned subsidiary of National Bank of Egypt, the largest and oldest bank in Egypt, with total assets of US $21Bn. It is also one of the largest banks in Africa and the Middle East and conducts international banking business worldwide.

Anthony Burr, Head of IT at NBEUK commented. “We evaluated a number of different systems, but it quickly became clear that DataStore was the e-document management system best suited to our requirements. Hitec have a very strong product, offered at a cost effective price, which is under continual development to keep it competitive in the market place. Furthermore, they have an established and satisfied user base in our business sector, with tried and tested interfaces to the systems that we currently use. The full implementation of the project will take most of the year to complete, but having completed the first phase; we are delighted with our choice.”

DataStore provides the Bank with a secure centralised Information Repository, addressing the requirements of all departments such as Documentary Credits, Credit, Finance, Audit, Front Office and Back Office. It will provide greater accessibility to End of Day Reports, Statements, Confirmations, Advices, Customer Documentation (KYC), Documentary and Credit Agreements, Cheques, Invoices and Project Files, whilst also enhancing Disaster Recovery capabilities.

Jeremy Crame, Hitec CEO said “I am delighted to welcome NBEUK to our growing base of almost 200 Customers in the Banking & Financial Services sector worldwide. Our success continues to be based on our domain experience gained over many years; and the investment we have made in interfacing DataStore with a wide range of banking applications”.