Petra Financial announce significant partnership with EastNets, the largest Middle East SWIFT service Bureau

18 September 2008

Petra Financial today announced that EastNets headquartered in Dubai has signed an agreement to integrate Vortex into their en.finmex portal that offers business and transaction solutions for the financial, corporate and government sectors in the Middle East and North Africa.

“Online financial messaging has become an important tool for the financial services community. Our new portal assures users of secure and reliable solutions to suit their unique organizational needs, and Vortex adds significant benefits to ensuring accuracy, validity and enrichment for the payments messages our customers generate”, said Hazem Mulhim, CEO of EastNets.

“Our agreement delivers to customers a compelling combination of Petra Financials Vortex Software as a Service (SaaS) payments software, together with the effective applications that EastNets en.finmex portal offers to the banking and corporate market sectors. This combination provides efficient simplicity that delivers a real customer benefit. We are truly delighted to have partnered with such a major provider as EastNets, who are both a global company and the market leader in the Middle East”, David Sinclair CEO of Petra Financial added.

“en.finmeX will serve as a one-stop-show which will ensure that only the right products are delivered to the right customers at the right time and price. We value Petra Financial’s domain expertise and rigorous focus on making the user experience simple and easy”, Mulhim further commented.

Vortex is Petra Financial’s online and SaaS delivered application that enables banks and institutions to check, validate, and enrich SWIFT payments messages and part of the Petra Financial suite of products that deliver increased STP and reduced costs to financial services markets.

”EastNets is one of the most respected and innovative SWIFT service bureaus in the world, and have grown through understanding what customers need supported by great service. We share EastNets’ values and see significant benefit to the customers through combining the delivery channels and applications that EastNets provide together with our focus on the customer experience and data accuracy. Payments that are generated will be more accurate; more easy to create; and more simple to send, and integrate with customers’ own systems”, John Burton, Marketing Director of Petra Financial further commented.

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