ICSFS Recognised for its Core Banking Implementation by IBSI
January 10, 2020

Mumbai, India: IBS Intelligence recognised ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, for its Core Banking Implementation during its IBS Intelligence Global FinTech Innovation Awards 2019.


The IBS Intelligence Global FinTech Innovation Awards 2019 was held on 22nd November, at the Four Seasons Hotel in Mumbai. ICSFS submitted its Core Implementation for The People’s Bank of Zanzibar (PBZ), which is wholly owned by the Government of Zanzibar and is one of the oldest commercial banks in Tanzania. ICSFS chose PBZ Implementation’s success story because it is a fully-fledged commercial bank offering banking services in conventional and Islamic Banking for both, retail and corporate customers. Also, PBZ serves a wide range of business, corporate and institutional clients comprising Government and government agencies, all types of companies, societies, clubs, associations, NGOs, United Nations boards, Diplomatic Missions as well as individuals.

Along with its Headquarters, Nisir MFI has 5 branches in Addis Ababa, Ethiopia. Based on Nisir’s current and future expected growth, a microfinance solution is needed in order to automate the operations of the institution. Nisir MFI decided to procure a comprehensive and agile core banking system last year, the end of November 2018, where it published an RFP, and have shortlisted five global leading vendors. In conclusion, ICSFS was mainly chosen for the rich system features and capabilities that will support Nisir MFI in their future growth plans.

“We, at ICSFS believe that every bank should provide a leading, high quality and innovative products and service to its customers, to stay ahead of this ever-increasing competitive business environment. Our ICS BANKS Universal and ISLAMIC Banking software suites run on the latest technology and product innovation. We have been servicing the financial and banking industry for over 25 years, and have been providing our customers with a competitive advantage over their peers wherein they are benefiting from introducing new lines of businesses based on ICSFS’ accumulative experiences in both; Conventional and Islamic Finance.” Hazboun continued “This recognition is a testament to our commitment to our clients. I would like to share this with all our customers, as we wouldn’t have achieved this without their confidence and loyalty to ICSFS.”

- Robert Hazboun, Managing Director at ICSFS

ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers’ journey experience, hence improving the trust and confidentiality between the customer and the bank. ICS BANKS has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system can be deployed on-premises or in the cloud.

“In a hotly contested category, Best Core Banking Implementation, ICS Financial Systems was a very worthy for its work with People’s Bank of Zanzibar. Integrating more than 15 third party systems with the firm’s ICS BANKS and ICS BANKS Islamic with a particular focus on compliance and reporting showed the versatility of the products and the dedication of ICSFS’ team.”

- Robin Amlôt, IBS Intelligence Managing Editor

About IBS Intelligence – (IBSI)

IBS Intelligence has been keeping its finger firmly on the pulse of the global banking and financial services technology industry for over 25 years. IBSI cover what is really going on – the good, the bad, the lessons, the mistakes, and the masterstrokes. IBSI journalists regularly talk to banks and financial institutions about their projects, experiences, and strategies; IBSI drill down into the activities and plans of the suppliers; and IBSI ensures that their readers are kept fully informed on all the latest news, developments and trends across the fintech space worldwide. Every word is written by IBSI journalists, with no advertorial or marketing hype. 

www.ibsintelligence.com

About ICS Financial Systems Ltd. – (ICSFS):

A leading provider of modern banking and financial technology powered by a very solid, agile, and digital banking platform as part of its DNA, launching innovative products that are constructed on a secured and agile integration. Its ICS BANKS software is a fully integrated universal banking software with many suites servicing the financial industry that provide open products with international standards, real-time business processing and value-added capabilities of tailoring products, on-premises or in the cloud. ICS BANKS software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers’ journey experience.