February 2024

Mega Overhaul Accomplished in Record Time with the Second Largest Bank in Palestine

Mega Overhaul Accomplished in Record Time with the Second Largest Bank in Palestine

Amman, Jordan

February 2024

The National Bank (TNB), the second largest bank in Palestine in terms of capital and one of its most trusted providers for individual and corporate financial services, has successfully gone live in record time of only 8 months. This was on the award-winning ICS BANKS® future-proof banking solution from ICS Financial Systems Ltd. (ICSFS), the global software and services provider for banks and financial institutions.

Further to their thorough due diligence, TNB decided to undergo a major transformation overhaul to their existing Core Banking Software and replacing it with ICSFS’s comprehensive ICS BANKS® Universal Banking and ICS BANKS® Digital Banking Solutions at their Head office and 36 branches and offices across the country.

The National Bank (TNB)

The implementation process of ICS BANKS®, which was selected by TNB on March of 2023, has resulted in a successful go-live of ICS BANKS® Universal and Digital Banking Solutions on a “Big-Bang” approach in early February 2024.

This major systems renovation is driven by TNB’s relentless pursuit to deliver stability and global best practices. They maintain their position as Palestine’s most pioneering, innovative, and robust bank. This is for corporates and individuals seeking reliable and world-class financial services.

Mr. Salameh Khalil, CEO; The National Bank

Our first and foremost goal at TNB is to be the leaders in providing innovative solutions and financial products. This is to meet our clients’ needs and expectations to the best of what modern technology can offer.

Our decision to switch to the ICS BANKS® Digital and Universal Banking Suites from ICSFS, is entirely based on our mission and strategic objectives of being the go-to provider of modern and superior financial services; all of which can be attained when making full-use of the solution’s long list of features, including its flexible and integratable infrastructure, and of course, the premium support offered by ICSFS. We are enthusiastic about this system overhaul and the smooth go-live on ICS BANKS® Suite, and we are certain that this is only the first step in a long and prosperous journey ahead.

Mr. Salameh Khalil, CEO - The National Bank

With collaborative efforts, TNB has successfully implemented the system with a record time of eight months, through the Bank’s unwavering support and provision of essential resources, timely information, and dedicated expertise. This accomplishment stands as a testament to TNB’s dedication to innovation and their shared vision of delivering exceptional services to their customers.

Robert Hazboun, Managing Director of ICSFS

It is our pleasure to welcome The National Bank as a valued customer and a part of the ICS BANKS® Banking Solutions community. By deploying our award-winning ICS BANKS® Universal and Digital Banking Solutions, TNB will primarily benefit from the full capabilities it can offer, including seamless user experience, advanced functionalities, and the complete array of digital touchpoints built-into the ICS BANKS® Digital Banking Suite; offering TNB’s customers extended access and control over their financial instruments at anytime and anywhere.

Being a crucial market with tremendous potential for quick expansion, and the shift in demand it has demonstrated in recent years, the Palestinian Banking and Financial Services industry has long been amongst our priorities. This stems from our adamant belief that Banking and Financial institutions must choose their Banking Solutions holistically. This is aimed at to promote innovation, develop new possibilities, and gain a market edge over their competitors.

Mr. Robert Hazboun, Managing Director - ICS Financial Systems Ltd.

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.

The National Bank, listed on the Palestine Securities Exchange, under ticker symbol “TNB”, is the second largest Palestinian bank in terms of capital and one of the country’s most trusted providers of comprehensive financial services for the corporate, retail, investment, and microfinance sectors. With a paid-up capital of $113.1 million, The National Bank has executed several successful M&A transactions in the Palestinian banking sector; in 2015, and in a ground-breaking transaction, The National Bank acquired Bank al Etihad’s operations in Palestine to become the first Palestinian bank on record to acquire a Jordanian bank. 

In 2018, The National Bank led a consortium acquiring a stake in the Palestine Islamic Bank (PIB) in the largest transaction in the history of Palestine Stock Exchange at that time. Also, in 2020, The National Bank acquired the operations of Jordan Commercial Bank (JCB) in Palestine. The National Bank operates through 36 branches and offices throughout the West Bank and Jerusalem, and champions progressive digital offerings including e-banking, mobile banking, the digital service center, and a well-positioned network of ATMs. www.tnb.ps

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. www.icsfs.com

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