As Bahrain forges ahead with its transformation into a
digital economy, another leading UK-based technology company Innervate has
chosen the kingdom to open for FinTech business.
At an official launch event held at the British Embassy in Manama,
Zayed R. Alzayani, Minister of Industry, Commerce and Tourism, and senior
management from the Bahrain Economic Development Board (EDB) joined ambassador
Simon Martin, Innervate CEO Andy Startin, representatives from the Department
of UK Trade & Industry, Bahrain Fintech Bay and Microsoft, together with
members of the local business community, to welcome the opening of Innervate
Technology’s first regional office servicing the financial sector.
Innervate specialises in developing customer relationship
management technology across different sectors, where finance is its core area
of expertise. Innervate’s main clients in the region include the Saudi British
Bank, Mitsubishi Bank, Aspen Insurance and Carnival Cruise.
With an initial investment of almost $1m, (around BD376,000)
Innervate plans to recruit employees across various skill-sets ranging from
system integrators, data scientists, business analysts and system architects.
As a result, Innervate has become the first Microsoft Dynamics 365 Gold partner
in Bahrain that mainly focuses on the financial services sector.
John Kilmartin, the EDB’s executive director – business
development, said: “We’re delighted that Innervate has chosen Bahrain to
establish a permanent office in Bahrain that will service clients across the
region.
“This is indicative of their confidence in Bahrain’s
rapidly-moving strategy to develop as a regional ICT hub and highlights
Bahrain’s attractive environment where companies can experience some of the
lowest costs of doing business in the Gulf.”
Innervate’s decision followed its attendance of the Gateway
Gulf Investor Forum held in Bahrain last year, where companies from around the
world were invited to learn more about Bahrain’s business incentives, economic
policy and to drive reform and diversification.
Its CEO Andy Startin said: “The EDB, Fintech Bay, Microsoft
and the Department of UK Trade & Industry have truly been inspirational
partners to help get our venture off the ground in Bahrain.”
Innervate’s business development director Arun Murria also
felt inspired by members of Team Bahrain over recent months which he believes
gave the company confidence to choose the kingdom.
“They have warmly welcomed and actively supported us in our
plans across the region, and I have no doubt we will see success in bringing
Innervate’s British and international financial services expertise to customers
and prospective clients across the Middle East market,” he added.