Following the opening of its €7 million state-of-the-art office building last September, RS2 Software has completed another milestone in its history with the inauguration of its subsidiary, RS2 Smart Processing Ltd.  The new subsidiary was inaugurated by the Prime Minister, Dr Joseph Muscat in the presence of Dr Edward Zammit Lewis, Parliamentary Secretary for Competitiveness and Economic Growth, the Company’s Chairman, Mario Schembri and Chief Executive Officer, Radi El Haj.

Addressing the guests, Mr Schembri said that “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 Mr El Haj said that “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.”

Mr El Haj added that, “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 macro economic 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. RS2 Smart Processing Ltd is ideally placed to benefit from this significant opportunity for growth in addition to responding to market changes and client demand. The managed services division will support our customers in growing their businesses, entering new markets, decreasing time to market and improving their customer retention rates, at a lower capital expenditure outlay at a time when many banks and financial institutions are coming under increasing pressure to improve their balance sheets.”

Following the inauguration the Prime Minister and his delegation toured the RS2 offices and met the employees at their place of work.