Demica announces private cloud deployment for SABB in Saudi Arabia
Demica, one of the largest independent providers of working capital solutions, today announced that it has deployed its platform into the Kingdom of Saudi Arabia through a private cloud deployment onto a Microsoft Azure Stack. In partnership with Saudi British Bank (SABB), Microsoft and Edarat Group Demica deployed a primary and DR solution, migrating the solution from its European data centres to ensure compliance with local data processing regulations.
In conjunction with its partners, Demica procured, delivered, installed and configured the Azure Stack within two data centres in Riyadh and Jeddah, effectively deploying the first production Azure stack solution in the Kingdom. The private cloud Azure Stack is now available to all clients with a strict requirement for the hosting of cloud-based trade finance solutions within the Kingdom of Saudi Arabia.
Demica initially partnered with SABB in 2018, providing its market leading supply chain finance solution to the largest trade finance bank in KSA.
Demica’s chief technology officer, Kishore Patel, said, “We are delighted to support SABB in their objective to combine full compliance with local data processing regulations with all the advantages offered by the Demica platform. I would also like to recognise our partners, Microsoft and Edarat who enabled this complex deployment to be completed within six weeks at a time when most of our teams were operating under lockdown conditions”.
Microsoft Arabia’s One Commercial Partner (OCP) lead, Wael Elsenoussi, said ‘’Organisations in Saudi Arabia are undergoing massive digital transformation fueled mainly by cloud and artificial intelligence. These technologies are helping businesses and society reach new heights and achieve more. Together with Demica and Edarat Group, we are working towards the same goals: innovate and deliver new solutions that can help customers capitalize on digital transformation to grow their businesses. The expertise of Edarat Group in providing Microsoft’s Azure Stack services, along with the business relevance of Demica’s trade financing solution helps us deliver true value for our customers. “We are proud of our partnership with Demica and Edarat Group, in leveraging Microsoft’s technology to bring a cloud-ready trade financing solution for Saudi British Bank (SABB) hosted within the Kingdom” he added.
SABB’s deputy managing director of Corporate and institutional Banking, Majed Najm stated, “SABB is happy to join one of the market leaders in supply chain finance to bring a cutting edge digital platform to the Saudi Arabian market. This platform supports Vision 2030’s initiative of injecting liquidity into the SME sector by availing financing based on the strength of the buyer’s credit. Delivering a ground breaking project to be first to locally host a cloud based digital platform despite Covid-19 is a testament to the strength of both SABB and Demica. This also maintains our position at SABB as a leading trade solutions provider in the Kingdom of Saudi Arabia, digitally innovative and in tune with our clients’ needs.”
