May 2023

ICS BANKS® Open Day Summit: Disruption through Agility, A New Banking Era in Iraq

ICS BANKS® Open Day Summit Baghdad Iraq 2023

Baghdad, Iraq

ICS Financial Systems Ltd (ICSFS), the globally renowned provider of premium banking software solutions for banks and financial institutions, held a successful open day summit in Baghdad entitled: “Disruption through Agility: A New Banking Era in Iraq”, during which ICSFS showcased its state-of-the-art banking software solution, ICS BANKS®, highlighting its latest technologies and innovations.

The ICS BANKS® Summit, which was held in partnership with Oracle on May 21, 2023, at the Babylon Rotana Baghdad, brought together key decision-makers, industry experts, and banking professionals from various banks and financial institutions across Iraq; with an aim at highlighting the key transformative features that comes as part of the ICS BANKS® Solution infrastructure, and emphasized on the importance of banking agility and expanding digital touchpoints to improve financial inclusion and customer reach in Iraq, as well as the numerous areas where banks can achieve disruptive growth, deliver better value to their clients, and join the global march towards digital transformation.

During the Summit, Expert speakers from ICSFS and Oracle delivered insightful talks on topics such as digital transformation, regulatory compliance, and the future of banking in Iraq, the attendees has also had the opportunity to explore the advanced capabilities of ICS BANKS® through live demonstrations, interactive presentations, and networking sessions.

ICSFS has established a strong presence in Iraq, effectively catering to the needs of the Iraqi market for more than two decades. ICSFS is the preferred and most trusted technology partner in Iraq, with over 30 active customers who have chosen IC BANKS® for its continuous technology innovation, high security and reliability and holistic products and services offerings.

The conference was attended by over 90 guests representing most of the banks and financial institutions in Iraq, who explored current and future opportunities on:

  • Digital Disruption in Banking: Significance, Drivers, Impact, and Trends.
  • The Rise of Neo Banks
  • Bussiness Continuity – High Availability and Disaster Recovery
  • Security
  • Integration
  • Oracle Exadata
Mr. Alaa Faek, Head of Credit Facilities at Ashur International Bank for Investment, took a few minutes to speak about their experience with ICS Financial Systems Ltd and stated:

In 2007, we embarked on what turned out to be an exceptionally successful journey with ICSFS, and throughout the years, ICSFS has always exceeded our expectations and fulfilled our requirements with their completely integratable solutions and comprehensive knowledge.

He then proceeded to speak about their experience with the latest implementation carried out by ICSFS, the ICS BANKS® IFRS9 Standards Compliance System:

“The ICS BANKS® solution not only provides all the necessary data, calculations, and reports mentioned in the contracts and scope of work, but also surpassed the expected results and significantly delivered better outcomes, going beyond the original expectations set forth. We express our deepest gratitude to ICSFS and their team for their outstanding cooperation during every phase of implementing the IFRS9, and the support they provided whenever required.

From his side, Mr. Wael Malkawi, Executive Director of ICSFS stated:

We are happy to have organized the ICS BANKS® Open Day Summit in Baghdad and extend our gratitude to all the participants who made this event a resounding success. We aimed to foster an environment of collaboration, knowledge-sharing, and innovation within the banking community in Iraq. We firmly believe that ICS BANKS® will empower and enable banks & financial institutions to embrace disruption, enhance their agility, and usher in a new banking era in the country.

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, hybrid, or cloud.

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, hybrid, or 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 experiences.

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