VERMEG OPENS OFFICE IN SPAIN WITHIN THE FRAMEWORK OF EXPANSION STRATEGY
Madrid, 27 November 2018 — Vermeg, a reference undertaking on the software solutions market intended for the finance and insurance sectors, is reinforcing its presence in Europe through the creation of a subsidiary in Spain.
The opening of the Spanish office is the outcome of the company’s solid commercial relations with major members of the financial industry in Spain and Latin America, with the object of reinforcing the company’s position in terms of sustainable growth, expanding activity and assured organic growth.
The Vermeg Group maintains subsidiaries in France, Belgium, Luxembourg, Britain, Tunisia, the United States and Asia. The company’s first subsidiary in Spain will enable the company to maintain closer contact with its present clients while strengthening its position as a supplier of software solutions for financial and insurance companies on the Spanish-speaking market.
Vermeg has been active in partnership with top level Spanish companies in the movable securities-related services sector for 20 years. With its “Megara” software solution, the company now covers all facets of post-contracting processing (payments and deliveries, securities transactions, management of real guarantees, securities lending, etc.).
This solid base gives Vermeg major prospects on the Spanish market. On the one hand, it intends to continue the deployment of Megara© with regards to new clients while expanding its activities with the other software solutions already successfully implemented in Europe. These solutions include Solife© for the management of life insurance contracts; Soliam© for assets management; eReporter© for the production of regulatory bank reports; and Palmyra© for the development of transactional web solutions based on an efficient technical platform and the assembly of pre-existing office components.
Vermeg’s Spanish office is intended to serve as the base of operations within the framework of the company’s expansion strategy on the South American markets, since it is already active in Brazil, Colombia, Mexico and Argentina.
Vermeg’s transactions in Spain are constantly expanding, based on the implementation of tightly integrated local management within the managerial structures of the Vermeg Group, as well as in the continued contracting of local highly qualified resources in the application of service technologies within the framework of client businesses.
Lastly, the new office is intended to reinforce Vermeg’s position in Europe while contributing to the company’s continued growth over the coming years.
“Our objective is two-fold: to attract new clients through innovation and to improve the quality of our services for companies already working with us, while maintaining a strong presence in Spain”, indicates Badreddine Ouali, Chairman and CEO of Vermeg. “The Spanish and South American financial markets are dynamic, with growing software requirements. The new office therefore represents a very important opportunity for the Group.”
WHAT IS VERMEG?
Vermeg is a developer of software specializing in the three principal segments of the financial services market: banking, fund management and insurance. Our business solutions are designed for the management of the new challenges arising in connection with the digital transformation of the financial services industry. As architects of information services, we provide our clients with an assurance of reduced costs and enhanced control of implementation times relating to the modernisation of their information systems.
We also offer standardised solutions permitting the integration of digitalisation requirements. Vermeg provides made-to-measure solutions based on our own tools, projects and experience.
Vermeg has 1,100 employees and maintains an active presence in Australia, Belgium, China, the United Kingdom, France, Germany, Japan, Hong Kong, Luxembourg, Holland, Singapore, South Africa, Spain, Tunisia and the United States. The company supports over 500 clients in 40 countries.
VERMEG “SOFTWARE EXCELLENCE FOR LEADERS IN FINANCE”