Universal Payment & Money Transfer Solutions
ICS BANKS® Remittances
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Universal Payment & Money Transfer Solutions
The rapidly changing payments industry requires businesses to stay alert, react quicker, and perform better. With new banking technologies continue to surge ahead, banks around the world are pushed to invest heavily into implementing new ways in which they can manage their operations, connect with customers, promote their services and stay ahead of the competition. ICS BANKS Remittances is a universal payment and money transfers solution provided to meet ongoing information processing innovation and management challenges facing the banking and payment industry today.
ICS BANKS Remittances system embraces business agility as a primary core driver in providing a high-end customer experience with:
The ICS BANKS Remittances system offers a variety of functionalities and features, such as powerful customisation and personalisation tools, flexible and innovative Business Process Management (BPM), Document Management System (DMS), and cutting-edge technologies, to indulge its customers with the opportunity to transfer money automatically in real-time, with the ability to track and confirm the payment through its STP processes and online settlement functions. ICS BANKS Remittances provides complete automation of SWIFT messages and RTGS processing, advice and voucher generation.
SWIFT announced that by the end of 2020, it will be mandatory for all financial institutions receiving payments (MT 103 messages) to confirm when a payment has been credited to the account of the beneficiary. ICS BANKS Remittances is ready and complies with the Universal Confirmations rulebook. ICS BANKS Remittances simplified the process to its customers by formatting and building MT199 automatic confirmation messages, and sending them directly after crediting the beneficiary or rejecting the payment.
ICS BANKS Remittances provides its customers with two options of confirmation; Mandatory and Optional confirmations. The system automatically sends the status for each payment received via SWIFT MT 103 “customer transfer”
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.
Digital transformation is underway in wealth management, as it is elsewhere. Clients demand instant gratification. Digital transformation is changing the customers’ expectations. It is also making it easier for banks to meet – and beat – those expectations.
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.
Tech is disrupting the conventional banking sector from back office core banking to customer-facing processes. Islamic banking is no different. Wael Malkawi, executive director at ICS Financial Systems (ICSFS), spoke with IBS Intelligence about how technology has disrupted Islamic banks in recent years.
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.
ICS Financial Systems (ICSFS), is a leading provider of modular, core banking systems. Robin Amlôt discusses how banks should come to grips with artificial intelligence (AI) with the company’s Managing Director, Robert Hazboun.
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.
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.
ICS Financial Systems is recognised worldwide for its digital innovation and its Shariah-compliant software is extending both its customer and client base. Highly agile and equipped to manage complex regulations, the software suite is breaking new ground in a pandemic-remodelled world.
Digital banking, understood as the digitalisation of traditional banking activities through the application of technologies that ensure end-to-end processing of financial transactions…
Running ICS BANKS from ICSFS on Oracle hardware is packaged as one complete solution with best-of-breed technologies, to provide banking solutions that address today’s industry challenges and demands in the most cost-effective way, while offering the agility to respond to the business and technology opportunities of tomorrow.
Banks have been chasing digital transformation ever since the creation of FinTech, when tech giants started imposing changes and creating new platforms for doing business.
The wealth management industry has had to rapidly evolve as customers demand the latest digital solutions. The challenges this presents must be overcome if firms want to future-proof their businesses.
IDC conducted interviews with ICSFS’ Executive Director; Mr. Wael Malkawi and Chief Technology & Innovation Officer; Mr. Ghassan I. Sarsak discussing ICSFS’ cloud journey experience in their latest eBook: Cloud Partner Success Guide 2018
“Our digital banking platform is embedded in the DNA of our universal banking applications (ICS BANKS and ICS BANKS ISLAMIC). Therefore, agility is seamlessly reflected in all the universal banking applications’ products across all touchpoints, without the need for complexity or interfaces.”
Agile fintech players offering a range of services have built tremendous customer bases, taking business from the traditional banking network.
ICS Financial Systems came through the pandemic and supply chain crisis not just in rude health but with reinvigorated energy and ideas.
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.
Artificial Intelligence (AI) has already become an everyday part of our lives. We use it at work and at home – often without even realizing it.
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
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.
As financial institutions look to enhance their customers’ online banking experience, a number of them are looking are blockchain technology as a way to accelerate the payment process and cross-border transfers. IDC forecasts that “applications surrounding complex, multi-party transactions or intermediaries demonstrate the largest benefits of implementing a blockchain solution.”
With consumers shifting to online banking, the strength and agility of a bank’s digital systems has never been more important. Through its innovative solutions, ICS Financial Systems equips banks for the digital age.
During Oracle OpenWorld 2018, Ghassan Sarsak, Chief Technology & Innovation Officer, ICS Financial Systems Limited took to the stage to discuss blockchain in the banking industry.
Recently, one of ICSFS’ Senior Product Managers; Heba Rasheed, has been selected by Intaj as one of their SheTech Role Models.
Al Busairi Bank for Microfinance, a newly established bank in Yemen, has selected ICS BANKS® Islamic Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.
Hadhramout Commercial Bank (HCB) has successfully gone live on ICS BANKS® Awards-winning, Innovative Core banking, Digital Banking, and Islamic Banking solutions from ICS Financial Systems, (ICSFS), the global software and services provider for banks and financial institutions.
Hadhramout Commercial Bank (HCB), a newly-established bank in the Republic of Yemen, has selected ICS BANKS Universal Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.
After carefully evaluating alternative systems, Al Kawthar recognized ICS BANKS Finance Leasing to be the most reliable, cutting-edge software solution to deploy for their operation; based on its innovative and fully integrable technology covering the full leasing cycle
TrustBank PJSB, One of the Banking Industry leaders in Uzbekistan, has selected ICS BANKS Islamic Banking software suite from ICS Financial Systems – ICSFS, the global software and services provider for banks and financial institutions, to implement into their newly established Financial Institute: Trast Muamalat LLC.
World Finance, awarded ICSFS’ Group CEO & Managing Director; Robert Hazboun, in its World Finance Summer 2022 edition, under the World Finance – Islamic Finance Awards 2022, for his Lifetime Achievement in Financial Technology Innovation.
Baghdad, Iraq:
Al-Ataa Islamic Bank for Investment and Finance; a newly-established bank in Iraq, has selected ICS BANKS Islamic Platform from ICSFS.
London, United Kingdom:
World Finance magazine has confirmed ICSFS as Best Islamic Banking & Finance Software Provider as part of its 2022 Islamic Finance Awards.
Baghdad, Iraq:
Al Sanam Islamic bank, a newly-established Islamic bank in Iraq, has selected ICS BANKS Islamic Banking software solution from ICSFS.
Baghdad, Iraq: ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, today announced the success of its Iraq User Group Summit: “Accelerating Digitalisation and Innovation in Iraq”. ICSFS showcased its holistic awards-winning banking software application; ICS BANKS.
Riyadh, KSA: The First Neo Financial Institution in KSA; Loan Financing Company (LFC), a newly-established microfinance company in the Kingdom of Saudi Arabia, has selected ICS BANKS Digital Platform from CSFS.
Amman, Jordan:
Al Rajhi Bank – Jordan, one of Al Rajhi Bank’s international branches, has selected ICS BANKS Islamic and ICS BANKS Digital Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.