January 30, 2009

SmartStream Technologies (London), providers of financial Transaction Lifecycle Management solutions, has added four new customers and has established two partnerships in the Middle East since the firm established direct operations in the region in April 2008.

New customers include Finance House (Abu Dhabi), National Bank of Kuwait (Kuwait City), Bank Muscat (Muscat, Oman) and Commercial Bank of Kuwait (Kuwait City). In addition, Bahwan CyberTek and AMFCO have become partners for SmartStream's TLM solutions.

After opening its office at The Gate in the Dubai International Financial Centre (DIFC) in April 2008, SmartStream has signed contracts with Finance House (Abu Dhabi), National Bank of Kuwait (Kuwait City), Bank Muscat (Muscat, Oman) and Commercial Bank of Kuwait (Kuwait City).

To further expand its operations in the region, SmartStream has also appointed two new distribution partners, AMFCO International (Karachi) and Bahwan CyberTek (Muscat, Oman), which will work closely with the Dubai office. AMFCO, an established company with more than 90 percent of the Pakistani market as customers, will allow SmartStream to expand its footprint within the regional markets. AMFCO will offer full sales, services and support, for SmartStream's reconciliations solutions.