Home News & events Press Releases 2009 Warka Bank, Iraq, completes processing centre migration to the TranzWare platform

 

Warka Bank-LogoWarka Bank, Iraq, has successfully completed the migration of its processing center to the TranzWare platform and as a result, has launched a wide portfolio of MasterCard products in record time.

Warka Bank’s previous legacy system prevented the bank from growing its business successfully due to the lack of advanced card management functionality, inadequate product support and customer-vendor relations. Following the detailed evaluation and selection of the TranzWare platform by the team led by Mr. Saad Sadoon Al-Bunnia (CEO), and thanks to the partnership with Compass Plus and the migration to TranzWare, business is booming.

Warka Bank chose to implement TranzWare Online, TranzWare CMS, TranzWare Interchange, TranzWare Fraud Analyzer and TranzWare Card Factory from the Tranzware product suite with the intention of launching telebanking and SMS services in the near future. Warka Bank has also been implementing a strategy to roll-out 1300 POS terminals as of 1st Oct 2009.

After the completion of training by Warka Bank, the implementation project gathered momentum which resulted in the fastest certification of a platform with MasterCard in the MENA region. Compass Plus certainly met all of the bank’s expectations in terms of product functionality, responsiveness, support and product delivery.

The launch date for the MasterCard project was celebrated in Erbil on 1st November and in Sulaymaniyah on 4th November, with substantial media presence.

Of the collaboration between the two companies Hassan Hussein M.C.C / Deputy General Manager of Warka Bank said: “Iraq is a very up-and-coming country within the financial sector. As a key part of the Iraqi Banking Sector, Warka Bank are working hard to be the number one financial institution in all fields of the industry, especially within the e-services hub, which is the future of the business. Our experience with Compass Plus commenced when we decided to become a MasterCard member, they provided us with excellent support in migrating our existing card base and terminal network to the TranzWare system. Their professional team, who completed MasterCard certification in a new record time for the MENA region, worked with us as partners in achieving our goals using their TranzWare products, which cover all expectations any bank or processor may have. I think this is what makes the difference, giving Compass Plus customers a competitive edge.”

Warka Bank for Investment and Finance is one of the largest financial institutions in Iraq with a network of 140 branches (with an additional branch in Lebanon) and 300 ATMs (190 online) located all over Iraq offering strong and constantly growing banking services. The bank was established in 1999 and now it is considered by the central bank of Iraq and all other financial organizations as the first private bank in Iraq.
www.warka-bank.com