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Interblocks’ iSwitch goes live at Alliance Housing Bank, Sultanate of Oman

iSwitch enables ATM transactions across regional networks

Colombo, February 22nd, 2007. Interblocks announced today that its iSwitch – ATM Switching & Monitoring System is live and operational at Alliance Housing Bank in the Sultanate of Oman (AHB).

The project marks Interblocks’ entry into the Middle East and highlights their eminence in the “Transaction Processing” software market.

AHB was founded in 2001 and has since been distinguished by its customer centric approach which has led to a continued growth in demand for its services.

In its efforts to further expand services, the bank was seeking a partner who could facilitate its growth plans by providing flexibility and innovation. After a stringent evaluation process, including site visits to existing customers, AHB selected Interblocks as the right partner to implement this project.

The iSwitch solution connects to the banks Phoenix Core Banking system and has been fully “Arabised” to meet AHB’s requirements. The system also connects the bank to the regional Al Watani switch, enabling AHB to link to the entire Gulf Cooperation Council (GCC) network, connecting over 760 ATM’s across the region.

In addition to marking Interblocks’ entrance into the Middle East, this project symbolizes an even more significant milestone – this is the first IFX compliant ATM Switch installation in the entire Middle East.

The IFX standard, which has been used by Interblocks in designing their products since 1991, is an XML based message set that has been developed to aid the management of expanding complex corporate banking needs. Developed “by bankers, for bankers” this is possibly the most comprehensive framework for managing financial transactions on the market today. The framework allows Interblocks to offer customers a greater degree of flexibility while maintaining the integrity and security of transactions.

“Interblocks views the Middle East and Africa as key emerging markets for our ‘Transaction Management’ Solutions, therefore this project is an important step towards capitalizing on this rapid growth. Our continued success in these competitive markets is a testament to what our technology and our team has to offer’ said Suren Kohombange, Director Software for Interblocks Limited. 

This project marks another remarkable achievement for Interblocks, as it continues to stamp its position in the global market for providing innovative and robust solutions, to meet the needs of Financial Institutions in a highly competitive environment.

For more information on IFX visit www.ifxforum.org