Strategic alliance delivers flexible next-generation banking solutions to Middle Eastern clients

London, 12 June 2003 - Financial Objects, a leading supplier of advanced
technology banking software and services, has formed a strategic partnership
with IT consultancy and service provider Esquire Systems, to market, service
and support activebank² in the Middle East.

Esquire Systems was founded in Dubai four years ago and has since seen tremendous growth to over 120 professionals focused on the financial services sector. Esquire Systems has a strong track record of delivering IT and business solutions to banks across the region, including Standard Chartered Bank, RAK Bank, Emirates Bank International, and Dubai Islamic Bank.

Leveraging Esquire Systems' IT services expertise and local knowledge of the
region, the partnership brings Financial Objects' activebank² solution to the Middle Eastern marketplace. The two companies will work together to expand Financial Objects' presence in the Middle East, as well as providing services to existing and prospective clients.

activebank²'s flexible, component-based architecture enables banks to respond to changing customer trends in products and delivery channels. It also ensures rapid return on investment - critical in today's uncertain markets. activebank² recently enjoyed success in The Banker Technology Awards, being selected from among 15 competitors as best core banking system, investment and wholesale category. This confirms its position as one of the most innovative and flexible solutions in the financial software marketplace.

Karim Peermohammed, executive director, global sales, Financial Objects, states: "Banks in the Middle East, as elsewhere, face market pressure to provide advanced services to their customers whilst having to search for cost-effective solutions. Financial Objects has always had a strong commitment to designing and developing systems according to specific geographical needs. Esquire Systems, with its impressive track record of servicing large financial services projects in the Middle East, is the perfect partner to help us deliver these benefits to Middle Eastern clients."

Anil Kumar, Director, Esquire Systems, says: "activebank² is the answer to the need for banks that are looking for a modern, functionally rich, and quick to deploy solution. activebank² provides a uniquely componentised architecture giving scalability on demand coupled with low deployment cost. We look forward to introducing prospective clients in the Middle East to activebank² to ensure that they make the most of its extensive capabilities."

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