ITS partners with Software AG: Islamic banking digitization

KUWAIT: International Turnkey Systems Group (ITS), the leading provider of next generation technology solutions to the Islamic financial services industry, has announced a strategic partnership with Software AG, a global technology firm, to accelerate its digital transformation efforts in the field of Islamic banking and finance.

The agreement was signed by Esam Alkheshnam, CEO, ITS and Rami Kichli, Vice President, Levant and Gulf Region, Software AG. The partnership, which will further cement ITS’s position as the leading provider of digitized financial services by leveraging Software AG’s Application Program Interface (API) technologies, webMethods and Universal Messaging and OEM finance solution, under its flagship award winning, next generation core banking solution, ETHIX NG.

Commenting on the partnership, Alkheshnam said: “We are pleased to collaborate with Software AG in order to introduce new technologies to the region and provide our customers with competitive advantage. Digitization is vital today and ITS is bringing together the worlds’ latest technologies designed to enhance operational efficiency and deliver elevated customer experiences. The new ETHIX NG is set to redefine the industry. It leverages Artificial Intelligence, Machine learning and Big Data to instantly modernize business processes, allow seamless collaboration between financial institutions and FinTech’s, and deliver a complete retail and corporate banking solution.”

Rami Kichli, Vice President, Levant and Gulf Region, Software AG added: “With the industry under constant disruption and even more with the present business changes witnessed by organizations across the world, it is vital for technology providers to calibrate solutions based on market realities. Integration is key to organizations transitioning into the digital transformation journey and webMethods’ agility will act as a robust platform to deliver a 100% digitized system in support of real-time integration that delivers seamless customer experiences. We extend a warm welcome to ITS into the Software AG family.”

Alkheshnam added: “ITS partnership with Software AG will deliver exceptional technology solutions to our clients that enable them to provide their customers with better products and services and bring their own innovative services to market faster.” “Our elevated ETHIX NG core banking solution will optimize and automate business processes to improve customer responsiveness and fast track their digital transformation, so that they gain competitive advantage and are empowered to take advantage of the new business opportunities that today’s highly connected business environment brings,” he concluded.