Path Solutions, the Islamic banking software company, today announced that it is a winner of the 2020 IBSI Global FinTech Innovation Awards for ‘Most Innovative Analytics Deployment’ of iMAL*BI at Al Baraka Bank Sudan, a subsidiary of the strategic Bahraini multinational banking corporation Al Baraka Banking Group.

Path Solutions won the award for delivering the all-in-one business intelligence suite iMAL*BI – part of the new Path Intelligence platform, designed to make data consumption as simple, personalized, and dynamic as possible. The solution’s flexible architecture and wide range of BI tools makes it ideal for financial institutions that are scaling quickly.

iMAL*BI was implemented at the winning Al Baraka Bank Sudan to help transform the bank’s business into becoming analytically focused and customer-centric, using enterprise-class analytics and executive dashboards.

“Data is playing an ever-crucial role in shaping the world around us,” commented Mohammed Kateeb, Group Chairman & CEO of Path Solutions. “Last year, Path Solutions was invited to rebuild Al Baraka Sudan’s BI landscape. The bank has since benefitted from every aspect of business intelligence, including data visualization and integration, data science and transformation and embedded analytics, to achieve superior business performance.”

He added: “We are particularly proud of this project and pleased to see our efforts get the external recognition they deserve from a renowned consulting firm. This recognition further underpins our commitment to help our clients keep pace with the evolving financial services landscape and delight them with superior services. With our innovative BI technology, we gave Al Baraka Bank Sudan the agility to make informed decisions and choices.”

iMAL*BI is a mature solution which scored very well across all of IBS’s evaluation criteria. As financial institutions increasingly seek actionable insight to better service their customers, the new iMAL*BI is well positioned to transform customer experience and drive growth at reduced costs.

Robin Amlôt, Managing Editor of IBS Intelligence, said: “We have all, corporately and individually, faced a challenging time in 2020. It is highly encouraging for us to be able to recognize and honour those companies that have risen successfully to these challenging times. It is particularly a pleasure to remark on the success achieved by Path Solutions in implementing its business intelligence solution at Al Baraka Bank Sudan, helping to ensure that the bank can improve its analytics and build its customer focus within its Islamic banking services.”

The awards programme, administered by IBS Intelligence and refereed by the firm’s prominent analysts and consultants, evaluates the top global providers of financial technology including new and established players. A stringent one-month long evaluation process determined the winners from across the globe who provided genuine, measurable, and future-enabling change to financial institutions globally.

The complete list of winners may be viewed at https://ibsintelligence.com/innovation-awards/.