Bankable Software

ICS Financial Systems Ltd. (ICSFS) provides business and technology solutions for financial institutions across the world. The Company’s success can be attributed to its turnkey offerings, including ICS BANKS® and ICS BANKS® ISLAMIC universal banking and financial software, which is a complete suite of banking business modules with varied functionalities and features addressing business needs and delivering a wide range of professional services to automate and streamline banking services.

The software has been the leading and preferred banking application for the MEA region, covering the entire financial services sector, from universal, retail, wholesale, corporate, commercial banking to investment, Islamic, finance lease and microfinance banking.

Managing Director of ICSFS, Robert Hazboun, comments: “Our Universal Banking Suite has been deployed in the Palestinian territory since 1994, and with our own regional office located in Ramallah, we cater for all our Palestinian customers’ needs and requirements.”

According to the number of banks listed by The Palestine Monetary Authority (PMA), ICS BANKS® banking users make 67 percent of the total Palestinian banking sector.

Hazboun continues: “One of our main references in Palestine is Bank of Palestine, which is the biggest Palestinian bank. It continues to be one of our most successful partnerships, stretching back to the 2000s. Since then, we have been a pioneer in utilising Bank of Palestine with the latest technologies to provide ICSFS’ utmost banking solutions, addressing their business requirements in one integrated and open system software, providing a 360 degree view of the customer’s exposure.

“In addition to our software embedded ServiceOriented-Architecture (SOA), we are proud to say that our banking system is cloud-ready and deployed in a multi-tiered setup that runs in a Thin-Client and best-in-class database solutions.”

ICSFS’ success is largely attributed to its market understanding, working closely with customers, advising them to adopt the international banking standards, while addressing their local requirements. The Company’s systems use the latest technologies which provide built-in disaster recovery, flexibility, data integrity and high performance. All modules are fully integrated, which streamlines data flow within the system, providing faster and easy-to-use software.

Hazboun concludes: “Today we are banking on a smart planet, where financial institutions and banks are obliged to connect with their customers anywhere and anytime. This is exerting pressure on them to open their infrastructure and push their services to banking and non-banking customers.

“This will, in turn, lead to challenges of scalability, performance, security and cost. Our banking application software ICS BANKS® helps banks to transform their operational procedures to meet current and future financial industry standards through applying best practices, innovative products and services and customer centricity,” Hazboun adds. “Within the near future, ICS BANKS® will announce the readiness of its first Digital Banking System.”