December 27th
Haydrian continuing its product portfolio by adding a solution to satisfy a growing demand in a new banking sector: Islamic Banking Beirut, Lebanon– December 27, 2006: Path Solutions, a proven leader in the provision of Islamic and Investment software solutions to banks and financial institutions, and Haydrian Corporation, a global provider of Anti-Money Laundering (AML) analytics, risk management and reporting technologies, announced earlier this month their decision to form a partnership for the provision of mutual services and products. Haydrian will broaden its product portfolio by reselling Path’s famed iMAL, an integrated suite of services reflecting an extensive range of Islamic business practices, and Path will resell Haydrian’s AML solution XM3, as well as the integration of XM3’s AML detection model into their Core Banking solution. This new partnership with a forward thinking company like Path Solutions is key for Haydrian; “By expanding our product portfolio, we are now able to offer more first tier products to our customers and meet the growing demand for compliance and banking solutions in the Middle East, Gulf and North-African Markets. Partnering with Path is the perfect opportunity to grow another important alliance in the region. Together we can offer banks and financial institutions a one-stop shopping when it comes to their banking and compliance needs,” said Johnny Harb, General Chairman for Haydrian MENA. Haydrian’s XM3 is a world-class, first tier AML monitoring and compliance solution designed by subject matter experts in the areas of AML detection, risk management, human behavior modeling, pattern recognition and information technology. Haydrian XM3 is designed to deliver a comprehensive and robust AML solution that integrates seamlessly with financial institutions’ operational systems and provides both batch and real time AML monitoring, proactive detection, and user-friendly reporting capabilities across a full spectrum of financial activities. XM3 is designed to be fast, reliable, secure, easy to deploy and reusable on any platform. Path Solutions next-generation enterprise technology, iMAL, is a high-performance, high-speed, high-bandwidth, point-to-point solution. It provides a flexible, scalable modular architecture for all applications. iMAL is being designed from scratch to enable a powerful and service-oriented banking infrastructure without restrictions and with minimum disruption to banking operations. It is an Islamic competitive advantage-providing a large portfolio of products and services to support all functions within an organization. “As a part of Path Solutions, we can expand our reach and capabilities to the financial marketplace with a much broader set of solutions,” said Naji Moukadam, Path Solutions President. “Banks searching for an end-to-end solution that can deliver large-scale operations and in specific Business Intelligence performances will need to look no further. The combination of Path Solutions deep expertise with Haydrian’s Compliance is a powerful union that can give clients a deeper pool of resources for both prevention and risk management.” About Path Solution
Established in 1992, Path Solutions (www.path-solutions.com) is the leader in the delivery of integrated solutions and services to the financial marketplace. Path Solutions offers a comprehensive range of software products, outsourcing and consulting services that address the whole spectrum of the global financial industry and in specific the Islamic Financial industry. Path offering consists of integrated solutions for the following major business segments: Investment Banking and Funds Management, Consumer Financing companies, Islamic Commercial Banking, Islamic Investment Banking and Fund Management and Islamic Retail Consumer Finance companies. Path Solutions retains its commitment to providing exacting service, support and contribution to the empowerment of the Islamic banking and finance industry in the New Economy, through its head office in Kuwait and full service offices in Beirut and Bahrain. About Haydrian
Haydrian Corporation (www.haydrian.com) provides Risk Management Solutions for financial institutions (banks, brokerage, insurance and money service businesses) around the world. Haydrian XM3 is a premier detection, prevention and risk management platform for financial institutions; which delivers a combination of the highest levels of regulatory compliance at the minimum total cost of ownership. Haydrian is led by a team of experienced senior executives with a successful track record in international banking, compliance monitoring, consulting, financial services, credit analysis and risk management. In addition to corporate offices in the United States, Haydrian International also has locations in Lebanon, UAE, Egypt, Pakistan, Indonesia, Spain, Mexico, Panama, Colombia and Brazil. |