Tunis International Bank (TIB), the first bank established in Tunisia under the non-resident banking regulations and a member of Burgan Banking Group, the regional banking arm of Kuwait Projects Co. (KIPCO), went live on ICS BANKS® from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions.
Tunis International Bank (TIB) has implemented the fully comprehensive solution ICS BANKS® in 3 Branches in addition to the Head Office. The bank experienced a smooth implementation started in on 31 July, 2013 and completed on 1 November, 2014.
TIB replaced the legacy system, as the main requirements for the bank were a fully-fledged bank -in- a- box solution that provides a full range of modules and incorporates a flexible group model.
Managing Director of TIB; Mr. Mohamad Fekih stated,
“We are delighted that TIB has successfully gone live with ICS BANKS®. The solution will enable the bank to serve its rapidly-growing customer base in Tunis with a state-of-the-art core banking system. TIB has implemented ICSFS’ solution to offer modern products through the use of the newly applied suite of applications that cover Core Banking, Remittances, Credit Facilities & Risk Groups, Lending, Trade Finance, and Treasury & Investment systems, in addition to giving our customers the possibility of securely interacting with the new system through the internet. ”
Managing Director of ICSFS; Mr. Robert Hazboun commented,
“ICSFS is expanding its footprint across North Africa, where it already exists in Algeria, Egypt, Libya and Tunisia. Our solution is currently licensed to more than 80 banks and financial institutions, demonstrating its reliability and suitability globally. We are delighted that TIB has entered into live production with ICS BANKS® and we look forward to support the bank through all future phases of growth.”
As a proof of ICSFS highlighting its footprints in the African ICT Market, ICSFS has won recently “Best Core Banking Systems Technology Provider” in Africa and globally for its ICS BANKS® solution at the prestigious World Finance Technology Awards that was organized by World Finance magazine. It is also worth mentioning that ICSFS flagship solution, ICS BANKS® was named the winner of “Banking Software of the Year 2010, 2011, 2012, 2013” from the Beacon of ICT (BoICT) Awards that are instituted by Communication Week Media Limited, publishers of Nigeria Communications Week. Furthermore, Global Banking and Finance Review, one of the worlds’ leading global banking and finance online publications has recognised ICSFS as the “Best Banking Technology Software Provider 2014”. And recently, ICSFS has been awarded “Best Core Banking Solutions Provider - Middle East” by International Finance Magazine on November 2014.
Mr. Wael Malkawi; Executive Director for Business Development of ICSFS said,
“We believe that our implementation at TIB is highly significant as it extends our share in the African market. ICSFS’ customer base is expanding in many African countries such as Nigeria, Ghana, Gambia, Sierra Leone, Liberia, Congo (RDC), Côte D’Ivoire, Djibouti, Kenya, Rwanda, Uganda, Tunis, Egypt, Algeria, Libya and Sudan.”
ICS BANKS® provides a complete suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS® has always been a pioneer in utilizing the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client, J2EE environment.
Distributed by APO (African Press Organization) on behalf of ICS Financial Systems Ltd. (ICSFS).