ICS BANKS® Nostro Reconciliation
Comprehensive Universal Banking Solutions to enhance your offering
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Performing Complex Automatic
Reconciliation Processes
ICS BANKS® Nostro Reconciliation System processes a comparison and matches figures of accounting records against those shown on a bank statement, as a result; any transactions in the accounting records not found on the bank statement or vice-versa are marked as outstanding transactions. The system is capable of performing complex automatic reconciliation processes between all types of accounts, following a set of matching rules that are dynamically defined by the bank in accordance with their transaction matching policies, in addition to enabling manual reconciliation to take place whenever necessary or required.
ICS BANKS® Nostro Reconciliation System enables the reconciliation process to be carried out electronically, either automatically or manually, rather than comparing the printouts manually from the internal ledger and the received files or swift messages.
Reconciliation Types:
Automatic Reconciliation
- One to One matching transactions.
- Matching transactions will depend on the transaction amount, the DR/CR indicator and all defined matching rules which are created according to the bank’s policy.
All matched transactions with 100% matching rate will be automatically confirmed but other matched transactions will be shown to the user in order to give his approval on them.
Manual Reconciliation
- (Many to Many), (One to Many), (Many to One) and (One to One) matching transactions.
- Matching transactions will depend only on the transaction amount and the DR/CR indicator.
- Tolerance amount can be accepted in matching the transaction amounts.
The manual match can be done between one or more transactions for the first internal account and with one or more transactions for the second internal/external account according to one condition which is the total transactions amount for the first account must be equal to the total transactions amount for the second account with different sign.
Technology
Customer
Analytics
RegTech Solutions
Complete Cloud-Native & Cloud-Agnostic Platform
Delivering MoreTouchpoints
Future-Proofed DigitalBanking Products
Open BankingOpen APIs Architecture
Unification of all Digital Systems Omnichannel Experience
Business Agility to DriveProductivity & Efficiency
Profiling Customer Social Engagement
Automated Processes & Robotics, Hence Time & Money Savings with High Accuracy
Request a Demo
Technology
Customer
Analytics
RegTech Solutions
Complete Cloud-Native & Cloud-Agnostic Platform
Delivering MoreTouchpoints
Open BankingOpen APIs Architecture
Future-Proofed DigitalBanking Products
Unification of all Digital Systems Omnichannel Experience
Business Agility to DriveProductivity & Efficiency
Profiling Customer Social Engagement
Automated Processes & Robotics, Hence Time & Money Savings with High Accuracy
Request a Demo
ICSFS uses innovative technologies in the core of its products, develops first-class, dynamic, and future-proofed banking and financial products for new business trends.
ICS BANKS® products come with high security, scalability, and flexibility.
Core Competencies
Innovation as a Core Function
Improved Efficiency to Drive Business Agility
Increase Customer’s Confidence
Enriched Customer Service and Experience
Continuous Technological Advancement
High Security, Scalability, & Flexibility
Increase Profitability & Reduce Revenue Leakage
Concurrent Technological Advancements Deployment
Dynamic Product Building
Vast Business Coverage to assist the Full Cycle of any Banking Sector
Request a Call
Core Competencies
Increase Customer’s Confidence
Enriched Customer Service and Experience
Innovation as a Core Function
Improved Efficiency to Drive Business Agility
Increase Profitability & Reduce Revenue Leakage
Concurrent Technological Advancements Deployment
Continuous Technological Advancement
High Security, Scalability, & Flexibility
Dynamic Product Building
Vast Business Coverage to assist the Full Cycle of any Banking Sector
Request a Call
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Working with Disruption
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Learn how Software Companies Drive Success On Cloud (eBook)
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ICS Financial Systems and Digital Banking Revolution (PDF)
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Currently, the implementation of mission-critical applications and cloud-based platforms to improve financial systems is fundamental for delivering fast, secure and efficient services in real time and offering better customer service with a direct connection to clients.
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Wasting time means losing money. That is what digital era businesses cannot bear, and very soon the speed of traditional bankers and banking methods will be comparable to a steam train being placed next to a modern Transrapid i.e. the banking technology of the future.
Middle Eastern Promise
The Islamic (interest-free) model has encouraged innovation, both in terms of product offerings and business support. In a break from convention, Islamic banks aim to function as true financial partners for their clients, as opposed to taking on the old-fashioned role of bank as lender.
Bankable Software
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Transformations Through Technology
Nowadays, banks must yield their highest return on investment by transforming their business through implementing and investing in innovative technology solutions that will drive productivity, lower their costs and risks, and deliver user centricity – for customers and employees.
Hi-Tech Banking
World Finance recently spoke to Wael Malkawi, Executive Director of Business Development for ICSFS, provider of ‘ICS BANKS’ financial solutions that has over three decades of experience helping financial institutions manage their digital operations.
Leading and Preferred Banking Application for the MEA Region
ICSFS Managing Director Robert Hazboun spoke to Venture about his company’s operations in Jordan’s financial sector, which is easly now one of the cornerstones of the Kingdom’s economy.
Mega Overhaul Accomplished in Record Time with the Second Largest Bank in Palestine
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ICS Financial Systems Ltd, a leading provider of cutting-edge banking and financial software solutions, is thrilled to announce being named the recipient of the “Best Digital Banking & Finance Software Solutions Award” for the year 2023 by World Finance. This recognition highlights ICSFS’ unyielding efforts to delivering innovative and transformative software solutions that drive growth and efficiency for Banks and Financial Institutions around the globe.
ICSFS Named Best Islamic Banking Solutions Provider for the 4th Consecutive Year
For the fourth consecutive year, ICS Financial Systems Ltd. has been recognized by World Finance as the Best Islamic Banking Solutions Provider. This prestigious accolade and the consistent recognition by World Finance Magazine is a testament to the company’s steadfast commitment to excellence. For over two decades, ICS BANKS® Islamic Banking Solution has been setting the industry standard with its comprehensive Sharia’ compliance, scalability, integration capabilities, and flexible deployment options. As the global Islamic banking sector continues to grow, ICSFS remains at the forefront, empowering financial institutions to thrive in a rapidly evolving landscape while ensuring the delivery of exceptional services.
ICSFS Group CEO & MD, Robert Hazboun, Receives his Third Consecutive Lifetime Achievement in Financial Technology Innovation Award from World Finance
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