Wednesday 08, October 2014 by Jeremy Brown

Open source middleware a platform for financial institutions in the Middle East

Banks in the Middle East are not only performing strongly in regional markets, they are now looking to expanding overseas and growth their footprints across the globe. According to Deloitte's latest report, ‘rising world trade flows, increased gross domestic product (GDP), a growing middle class and new technologies are expected to help banks based in emerging markets expand into developed markets in the coming year’. The growing ambitions of the region's banking sector are driving up demand for effective IT. However, most (if not all) banks and financial institutions these days have cost reduction programmes in place.