Following the opening of its €7 million state-of-the-art office building last September, RS2 Software yesterday completed another milestone in its history with the inauguration of its subsidiary, RS2 Smart Processing Ltd. The new subsidiary was inaugurated by Prime Minister Joseph Muscat.
RS2 Software plc provides services to the global financial industry and is a leading supplier of transaction processing, and card issuing capability through its product BankWORKS.
Addressing the guests, RS2 chairman Mario Schembri said: “I am proud to be inaugurating another milestone in our strategic long-term growth plan. The inauguration of RS2 Smart Processing Ltd forms part of our commitment to provide innovative solutions and services in the cards and payment market. This is in line with our plans for diversification of our revenue streams, growth in our product and continued business performance.”
In his address chief executive officer Radi El Haj remarked: “RS2 Smart Processing Ltd will provide managed services to our increasing customer base. Managed services will allow customers to perform their business in a fast and efficient manner and at the same time reduce costs by minimising the investment in hardware and software.”
He added: “These services will help to increase the value of the product we offer to our customers as well as provide them with systems solutions at a time when the macroeconomic climate in which they operate remains challenging. New banking capitalisation requirements coming into force, combined with the downgrading of many banks credit ratings means that banks will shift their focus from the purchase of large systems and software into managed services.”
Following the inauguration the Prime Minister and his delegation toured the RS2 offices and met the employees at their place of work.
RS2 plc was floated on the Malta Stock Exchange in 2008 and has been based in Malta since 1993. The company currently employs over 100 employees in their new offices in Mosta and over 150 worldwide at their offices in the Philippines, US, Germany and Jordan.
Last year RS2 Software invested over €7 million in the construction of the new premises, primarily driven by the need to provide a cost-effective office environment, which is resilient to meet the company’s long-term requirements.