Aconite has experienced growth in this region since establishing its offices in Dubai in October last year. Aconite will be well supported by Eastern Networks through its established presence in the Middle East and will assist in providing immediate coverage in this area through existing relationships, distribution channels and local support. The partnership combines Aconite's extensive knowledge and expertise of EMV solutions with Eastern Networks knowledge of the markets, banks and financial institutions across the region and its EMV migration suite of products and solutions.
Bev Stevens, director, Aconite Middle East, stated: "The migration to EMV- enabled smart cards is a slow and complex one and there are a large number of banks and financial institutions facing this challenge. Both banks and retailers need to make fundamental business, technical and organisational changes to accommodate the new standard in time to meet migration deadlines planned for implementation across the Middle East in early 2006."
"With distinct variances in the stages of development achieved in the difference countries in this region, the role of regional technology partners becomes crucial to meet the growing demands and challenges. Our alliance with Eastern Networks is central to our strategy in the Middle East," he continued.
Hazem Mulhim, CEO, Eastern Network, commented: "With strong economic growth and an EMV ready environment, there is a wealth of opportunities for Aconite and Eastern Networks to provide a full portfolio of MEV migration and smart card solutions to the banking and financial community across the Middle East. We are confident that through our strategic partnership with Aconite we can leverage the success we have achieved in this part of the world, and help financial institutions across the region meet EMV mandates with ease."
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