Path Solutions, the leading Islamic financial software company, has been recognised as ‘Core Banking System Provider of the Year - Islamic Finance’, while its cutting-edge iSHRAQ*Microfinance was selected as ‘Sharia-Compliant Microfinance Solution of the Year’ for the third year running, at the recently concluded ACQ5 Global Awards 2017. 

ACQ5 is a leading corporate news magazine that has been serving the financial sector since 2003. The magazine provides a global audience of over 163,000+ subscribers with the information behind the headlines. ACQ Global Awards recognise organisations and individuals who have sustained outstanding innovation performance throughout the year, with a relentless focus on dominating their niche markets.

The industry’s favourite awards have witnessed another record breaking number of votes this year. The total number of nominations received stood at an amazing 83,121 - their highest ever. Having assessed the votes that have been cast by industry peers, Path Solutions was announced an ACQ5 Global Awards 2017 multiple category winner.

The win reflects another strong year for Path Solutions, with new deals concluded in both Morocco and Suriname, the launch of standalone applications, followed by important go lives and system upgrades.

Mohammed Kateeb, Group Chairman & Chief Executive Officer of Path Solutions commented, “Being recognized three years in a row as ‘Core Banking System Provider of the Year - Islamic Finance’ is proof positive that our focus and investments in empowering our clients with technology-led innovations are paying off. Path Solutions helps its clients address the challenges of digitalization and regulations, bring ethical products to market faster, and allow them to adapt to new demands, resulting in improved customer experience. On the other hand, our winning iSHRAQ*Microfinance solution allows microfinance institutions to quickly build profitability by being productive from day one. It also has a full suite of reporting and monitoring tools and provides clarity and accuracy of information”.

“Financial institutions are challenged to adapt and thrive in a dynamic, increasingly unpredictable and complex business environment. Technology is emerging as the single most important differentiator for those geared to succeed. As an industry-driving provider of next-generation software systems, Path Solutions stood out as a thought leader that can effectively tackle market challenges and align its comprehensive suite with clients’ business goals”, said Jake Robson, ACQ5 Editor.

Path Solutions has cemented itself as a leading provider of front-to-back Sharia-based software solutions for the Islamic financial services industry, winning key deals in new geographies and ousting competitors in major Islamic banks. Lately, the company has also been named ‘Islamic Banking Solution Provider of the Year’ at Beacon of ICT Awards 2017.

The full list of category winners in 2017 will be promoted on the following mediums: TIME, BLOOMBERG BUSINESS, CNN, BBC, THE SUNDAY TIMES, and will also appear in a special issue of ACQ5.