Optial announces expansion in Middle East and India through appointment of Intertec Systems LLC as strategic partner

8 September 2008

Optial, a leading developer of operational risk software solutions, announced today that it is expanding its geographic focus to include the Middle East and India through the appointment of Intertec Systems LLC (Intertec) as its representative.

Intertec Systems LLC will represent Optial’s operational risk and compliance management software solutions in the United Arab Emirates, Qatar, Oman, Bahrain, Kuwait and India. Headquartered in Dubai, Intertec was established to provide leading-edge IT solutions to organisations in a wide range of sectors. Intertec has an established track record of supplying Basel II credit and market risk and anti-money laundering solutions to the banking industry and as such, represents a natural partner to introduce Optial’s Operational Risk and Compliance Management solutions into the Middle East and India.

Commenting on the appointment, Chris O’Brien, CEO of Optial said: “When looking to expand our focus to the Middle East and India it was imperative for us to identify a partner that had a good reputation for delivering quality solutions and pro-active customer relationships, and with the energy and forward thinking required to introduce a new product to the market. In Intertec we are confident we have found all of these characteristics. With active proposals already submitted to a number of banking organisations, Intertec have already proved their ability to create opportunities for Optial.”

Naresh Kothari, Managing Director, president and founder of Intertec, said: “Subsequent to the introduction of credit and market risk practices and solutions in the region, there is a great deal of focus on the operational aspects of the Basel II accord making this the ideal time to provide the banking community with a tried and tested operational risk management platform. The availability of Optial’s SmartStart “out of the box” solution which enables rapid deployment of operational risk and compliance management, alongside the flexibility and scalability of Optial means that organisations can be up and running with a solution within 6 weeks, while ensuring their future growth and regulatory and compliance needs can also be met. The achievement of AMA status by one of Optial’s existing customers is further testament to Optial’s overall capability and specifically its extensive workflow functionality. Partnering with Optial will help us to become a leader in providing these enabling financial solutions.”

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