ITS inks deal with Al-Akdhar Bank
KUWAIT: International Turnkey Systems Group (ITS), the region’s pioneer provider of comprehensive Islamic banking solutions, announced that it has signed a deal with Moroccan based Al-Akdhar Bank, (a participation between Credit Agricole bank and Islamic Corporation for the Development of the Private Sector-ICD subsidiary of IDB), where the bank selected the ITS ETHIX Islamic Finance suite, to be their core solution, and support the launch of the Bank’s retail and corporate product services in the Moroccan market.
Commenting on the deal, International Turnkey Systems (ITS) CEO, Esam Alkheshnam, said: “I am very pleased to join hands with Al Akdhar Bank. As a new market entrant, Al-Akdhar is equipping itself with best financial technology in order to gain competitive advantage in today’s aggressive banking business landscape - a move that bodes well for its future success. Finalizing the ICBS (Islamic Core Banking Solution) implementation with the Bank further underscores the success of ITS’s robust and unique ETHIX product suite, and its widespread adoption internationally.
The ITS Ethix Islamic Banking Solution Suite, which is designed to provide Banks and financial institutions with competitive advantage by offering pioneering financial technologies and transforming the customer experience, includes a comprehensive range of synergistic products such as ETHIX-Core, ETHIX-Finance, ETHIX-Branch, Ethix-Net, EthixMobile and many more.
CEO of Al-Akdhar Bank, Fouad Harraz enthused: “We are pleased to begin our digital journey with International Turnkey Systems (ITS). The award winning Ethix suite by ITS will support the Bank in offering innovative Banking products and services, and provide an outstanding customer experience to both our valued corporate and retail customers. This is aligned with positioning Al-Akdhar as a strong position in the Moroccan market.”
‘ETHIX’ is a modular banking system covering branch, international and back office activities. It includes Retail, Wholesale, Corporate, Trade Finance and other functions. It runs in more than 70 international banks in Middle East, North African, and East Asian regions, as well as the Caribbean. ETHIX is an open system that consists of multiple modules; Core Module, Central Module, Branch Module, and International Module. It is known for being secure, flexible, parameterized, multilingual, multi-branch, Real on line support for branches, and modules can be installed on a standalone mode. ETHIX represents the best process for the best performance of the customer’s journey inside the branches.
“The Islamic banking market is witnessing strong growth in Africa, and this deal is aligned with ITS plans of international growth and expansion,” Alkheshnam added.