December 2016 73 www.bahrainthismonth.com As the year nears its close, this payment technology company looks back on 2016 and the expectations it has for 2017. NEC Payments was formed in 2014 and is licensed by the Central Bank of Bahrain to provide technology solutions and outsourced services to financial institutions in the Kingdom and internationally. Since formation, it has built a strong and compliant organisation structure, and much of 2016 has been spent working through a research and development cycle to create and refine its technology, product and service offering. The company has taken a different path to other businesses that serve this sector by developing its own technology platform rather than licensing software from an external vendor. “The strategy since we formed NEC Payments has been to differentiate ourselves from the competition in two ways: to design a platform that enables products to address underserved opportunities in the market; and to use the latest technologies to make our platform more flexible, more secure and more scalable than legacy systems,” says chief executive officer Andrew Sims. The company’s focus on innovative technologies is certainly paying off as it has entered into a partnership with global software giant, Microsoft, to build and deploy its products on the Microsoft Azure cloud. Andrew is optimistic about the outlook for 2017 and beyond, saying: “We are working with our banking partners, MasterCard and Microsoft, to bring game-changing products to the market in Bahrain and across the wider Middle East and Africa region. These include products for consumer and business travellers that give them a more secure, cost efficient and convenient way of managing foreign currency when away from home; and also new and highly-effective ways for businesses to manage payments to domestic and international suppliers.” Call 17 203-000. Digital Transformation of the Payment Industry NEC PAYMENTS Andrew Sims NEC Payments B.S.C (c) T: +973 1720 3000 E: [email protected] Licensed and Regulated by Central Bank of Bahrain. Contact us to learn more www.necpayments.com Ground-breaking payment technologies on Microsoft Azure Flexible, secure and scalable payment solutions Multi-currency travel money Online virtual payments
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