Kanbay and Kabira Form Strategic Alliance to Support Advanced Card and Payment Services
SAN FRANCISCO, Calif. - Sept. 3, 2003 - Kanbay Incorporated, a premier global consulting and managed solutions firm specializing in the financial services industry, and Kabira Technologies Inc., provider of the Infrastructure Switch software for high-volume, real-time transactions, today announced that the two companies have entered into a global strategic alliance. Kanbay will serve as a preferred integrator and key domain expert for Kabira's Infrastructure Switch software and Model-Driven Framework Solutions. This alliance will focus on supporting the development and deployment of advanced payment services for leading financial institutions around the world. Such services include: credit and debit card services, risk/fraud management and real-time micro-payments, in addition to custom value added service offerings. The combination of Kanbay's broad experience in card services with Kabira's software offers financial institutions proven, up-to-date and cost-effective solutions for the next generation of services.
Card issuers are embarking on multi-year programs to increase card usage and replace cash purchases with card and other related payment services. This requires a combination of new services directed outwards towards card customers and inward towards merchants. Customer-directed services include: enhanced security systems, rapid payment systems for fast-food and convenience purchases, affinity reward programs, association of cards with multiple accounts, special-condition Internet purchases, wireless and email notification of credit events, spending caps for teen cards, payroll cards and many other services. New merchant services will include: increased security systems and fraud prevention, ability to provide real-time value added marketing at the point-of-sale, support for increasing transaction volumes with lower cost-per-transaction, and low-overhead communications systems for rapid response.
"Our customers are at a critical juncture due to increased transaction volumes, complexity and security requirements that go beyond the limits of current technology," said Anand Ramakrishnan, Vice President of Card Services for Kanbay. "With increased usage of cards, the technology deployed by financial institutions and transaction processors has reached its limit. Kabira's platform provides Kanbay the ability to offer clients a solution that can address their current and future technology needs."
"Financial institutions need advanced card and payment services to differentiate themselves from competitors," said David Marshall, Vice President Corporate Development for Kabira. "Kanbay has a large team of software professionals with Kabira platform expertise. This expertise, along with Kanbay's payments industry domain knowledge, uniquely equips Kanbay to successfully deliver these new services. Kanbay's delivery model, industry reputation and technical skills in combination with Kabira's state-of-the-art software for high-volume transactions give customers a best-of-breed solution set for their new card and payment offerings."
About Kanbay
Kanbay is a global integration and managed solutions company with a rich heritage in serving the financial services industry. The company's solutions help customers achieve sustainable business success and predictable value via a customer-centric approach to deploying industry innovation, process excellence and information technology solutions. Kanbay's solutions are a combination of bundled and specialized solution sets, industry advancements, process excellence and information technology enablement delivered via a flexible global delivery model at the right cost.
Founded in 1989, Kanbay is headquartered in Rosemont, Illinois. Kanbay also has U.S. offices in Los Angeles and New York; a European office in Cambridge; Australian offices in Melbourne, Sydney, Brisbane and Perth; offices in Hong Kong, Japan, Singapore and Canada; plus the Kanbay e-Solutions Center in Pune, India. http://www.kanbay.com email: kanbay@kanbay.com
About Kabira Technologies Inc.
Kabira makes the software Infrastructure Switch and solution frameworks for providers of high-speed, high-volume, Real-Time Enterprise services. Our software products for wireless, Card and Payment Processing, OSA/Parlay Gateway, Mobile Message Gateway, Service Delivery Platform, telecom and financial services are built on the world's most advanced infrastructure software - delivering solutions of unparalleled Speed, Flexibility and Scalability. With customers in more than 30 countries, Kabira's solutions are proven to scale to tens-of-millions of users and are designed for continuous modification directly from high-level models and frameworks.
Kabira has delivered Real-Time Enterprise solutions for customers and partners such as: Alcatel, Accenture, Ameris, Cable and Wireless, Cap Gemini E/Y, E*Trade Securities, Enertel, France Telecom, Hutchison, Lucent Technologies, Motorola, SFR, TAL and VISA. Phone +1 415-446-5000 (USA); +44 (0) 1753 787 200 (International); http://www.kabira.com email: info@kabira.com.
