Finance House partners with SunTec and becomes VAT compliant across UAE
Reinforces its commitment towards building a Digital Banking Architecture that is customer-centric
Abu Dhabi, United Arab Emirates, 12 February 2018 – Finance House PJSC, the UAE’s leading independent finance company, announced its partnership with SunTec, a provider of revenue management and customer experience orchestration software.Through this partnership, SunTec will facilitate computing of taxes under the new mandate and invoicing of the newly introduced Value Added Tax for Finance House.T.K Raman, Group Chief Financial Officer, said “We are happy to partner with SunTec and we are proud to be among the first companies in the UAE to become VAT compliant. It is crucial to us to be at the forefront of change and compliance to newer regulations is one of the ways we do that. I believe Xelerate will help us move forward with this vision.”Sudheer Padiyar, Regional Head, EMEA, Client Facing Group at SunTec, said: “We are proud to be the partner of choice for Finance House in their journey towards compliance. Xelerate for VAT has been designed specifically to ensure that our clients find it convenient to become VAT compliant with least amount of interference to their existing infrastructure and carry on with business as usual.”
Agility is the driving force of all digital transformation journeys and SunTec’s Xelerate has been built to deliver the best digital experience which banks can provide to its customers. With this partnership, SunTec will be able to work closer with BIAN and create a standard that will help banks overcome current business challenges around legacy modernization and work in a smarter way to
provide innovative services by putting the customer at the center to build solutions that are open, intelligent and connected.
About Finance House
Finance House PJSC is an Abu Dhabi-headquartered finance company that was established on 13 March 2004 and commenced its operations on 18 July 2004.The principal activities of the Company are commercial and retail financing, financial services and investments. The Company is licensed and regulated by the Central Bank of the UAE.The major shareholders of Finance House include, The National Investor (TNI), a number of prominent UAE businessmen, high net worth individuals and dignitaries.In a short span since inception, Finance House has introduced a number of innovative products and services for the consumer and commercial segments.Finance House is listed on the Abu Dhabi Exchange under the ticker symbol FH and is categorized as a “Grade One” company by the Emirates Securities & Commodities Authority (SCA).Finance House is rated BBB- long-term and A3 short-term, both with Stable Outlook by Capital Intelligence.
At SunTec, we help our clients increase the lifetime value of their customer relationships through effective revenue management and real-time customer experience orchestration. Our low risk digital transformation approach enables clients to own the customer experience by enhancing their value-based engagement. With 100+ clients in 45+ countries, SunTec is a trusted partner of leading organizations across Banking, Financial services, Insurance, Telecom and Travel industries. Headquartered in India, we have operations in USA, UK, Germany, UAE, Singapore and Australia. With a team of highly skilled folks and our highly innovative product development models, we help our clients to always remain at the cutting edge of technology. A stable, mature and flexible product suite, Xelerate is benchmarked regularly for optimum performance. Coupled with insights from our industry experts and a robust future-ready roadmap, Xelerate continues to develop along with the market. Able to seamlessly integrate with any ecosystem, it is one of the fastest products to implement.
For more information, please visit us at www.suntecgroup.com or email us at email@example.com
SunTec Press Contact: firstname.lastname@example.org
Finance House Press Contact: Wissam Farran- Group Head
Group Corporate Communications
Tel: +971 2 6194893
Fax: +971 2 6315806