Intracom : INTRASOFT International Announces new Subsidiary in Kenya and Launches Banking Solution PROFITS® in East Africa

Luxembourg, 12 July 2016 - INTRASOFT International, a global ICT company, having successfully delivered complex solutions in the East African region over the past couple of years, is solidifying its presence in East Africa through the launch of its Kenya office at the heart of the nation's capital.

The establishment of INTRASOFT International EAST Africa Ltd follows a string of high profile contract awards and successful implementations such as in NSSF Kenya (2014, Pension Administration System), and in the KRA Data Warehouse and Business Intelligence project as a strategic subcontractor for the implementation of components of the solution and delivery of the Risk Analysis Module of its proprietary ESKORT Compliance Application Suite.

The announcement comes at a time when the Kenyan Government has set out to drive the country towards becoming a globally competitive digital economy. According to the Kenya National ICT Master Plan (2017), the Government aims to further promote digital capacity, innovation and enterprise in the country.

"Kenya's reputation as an African technology, trade and development hub confirms it as a strategically sound location for INTRASOFT to establish our regional headquarters. Our vision is to join Africa's ICT strength and provide solutions to current and future challenges in the Public and Enterprise sectors," said Alexandros Manos, Chief Executive Officer, INTRASOFT International.

The company further announced the official launch of its banking solution suite, PROFITS®, into the East African market. PROFITS® is a comprehensive suite of solutions that includes core banking, internet, mobile and agency banking, loans automation, Business Intelligence and MIS. Profits® proposes a new philosophy to the operation of financial institutions that focuses on strong evolution in operational efficiency while maintaining strict compliance to changing regulatory requirements. Housing Finance Bank (HF Group) in Kenya has deployed two of the PROFITS® subsystems. PROFITS® is also currently being implemented at Mwalimu Commercial Bank in Tanzania and Centenary Rural Development Bank in Uganda and promises to be a strong game changer in the banking sector in the region.

"INTRASOFT International has responded to our needs in an efficient and collaborative manner. The company's standards and strong skill set were important drivers in our implementation and we welcome them to Kenya's ICT market" said Frank Ireri, Group Managing Director, HF Group.

Other important banking projects in Africa include the Zambia Electronic Clearing House Limited (ZECHL) where Intrasoft International is implementing the National Payments Switch to provide an infrastructure that will promote interoperability of all retail bank-led and non-bank-led payment systems.

"We look forward to making our contribution by delivering solutions that will enhance efficiency in the public and private sectors in this era of unprecedented digital change. PROFITS® is the first of many innovative solutions we offer East Africa, that will empower banks, microfinance institutions and SACCOs to adapt quickly to change occasioned by global and regional trends including mobile money, big data, cloud, security and changing regulatory environment," said Wambui Mbesa, CEO and Regional Director of INTRASOFT International East Africa.

INTRASOFT International is fully committed to investing and developing local talent while collaborating with public and private sector stakeholders to bring innovative IT solutions to East Africa.

###

INTRASOFT International is a leading European IT solutions and services group with a strong international presence, offering innovative and added-value solutions of the highest quality to a wide range of international and national public and private organisations. The company employs more than 1,500 highly-skilled professionals, representing over 20 different nationalities and mastering more than 18 languages. With headquarters in Luxembourg, INTRASOFT International operates through its operational branches, subsidiaries and offices in 14 countries: Belgium, Bulgaria, Denmark, Cyprus, Greece, Jordan, Kenya, Moldova, Romania, Philippines, UK, UAE and USA. More than 500 organizations in over 70 countries worldwide (Institutions and Agencies of the European Union, National Government Organizations, Public Agencies, Financial Institutions, Telecommunication Organizations, and Private Enterprises) have chosen the company's services and solutions to fulfil their business needs. www.intrasoft-intl.com

PROFITS® gives operational stability and provides opportunities for growth to financial institutions. The system portability across almost all platforms and databases liberates our clients from up-scaling costs and the comprehensive suite of solutions include enhanced administrative functionalities which decrease overall development and testing efforts, and banking system maintenance. http://www.intrasoft-intl.com/banking

Lorraine Onduru lorraine.onduru@hkstrategies.co.ke