• Product Reviews
• 26.09.2022 06:04 pm

Growing awareness of Islamic banking products and their benefits have increased the demand for innovative Islamic banking products and solutions. Banks require innovative solutions to not only deliver these options to customers, but also address the numerous challenges in today’s increasingly complex business environment such as keeping up with emerging technologies, ensuring compliance with changing regulations, and customer demand for more personalized and customized experiences. ETHIX NG is the next generation core banking system by ITS designed to address the challenges of a transforming financial services industry and empower banks to meet customer needs while succeeding in the Digital Economy.

Flexible & intuitive interfaces

ETHIX-NG is equipped with an Intelligent Factoring and Invoice Financing Automation Engine designed to handle the full factoring business needs of banks and financial institutions while minimizing human error. With flexible end-to-end operations combined with unmatched scalability, ETHIX-NG transforms complex factoring and invoice financing processes into flexible and intuitive interfaces with dedicated workspaces for different employee types and for the in-store borrower.

Reduces risk

ETHIX-NG Factoring Engine reduces credit risk, empowering banks with the tools to make the right decisions that ensure effective loan approvals, and with rule-based credit decisioning, ETHIX-NG reduces the risk of non-repayment. Credit decisions takes seconds and ensure you’re working with the right borrowers on the right terms.

Fully digital experience

ETHIX-NG is an easy-to-use system with a fully digital experience making the financing process quick and easy for organizations, borrowers, and employees. ETHIX-NG fully automates the debt collection process for the factoring operation of any scale. Thanks to the intuitive built-in functionality and integrations with payment providers, you can customize the collection process, report on collected instalments, and receive money straight to your account.

Batch Processing

ETHIX NG Batch Processing Module provides financial institutions with the capability to conduct efficient and effective batch processing of transactions. The Module allows for the definition of a set of recurring and / or nonrecurring batches of work, facilitating the designation of balanced groups of transactions that are to be processed throughout the day which can be based on a defined frequency.

Unlimited & Customized

ETHIX NG Batch processing enables financial institutions to setup, Batch Transfer files, which can contain transactions between two accounts or more, Placing Holds, Releasing Holds or Collecting Charges. The dynamic system provides an unlimited number of templates and formats of Batches, either in text or excel, that are available to be defined by the institution based on their specific business needs and taking into consideration all validation and security requirements, such as hash total validation, user limits and access validation, auto-retries handling and more.

Compliant customer onboarding

ETHIX-NG Customer Management interface is a multi-channel customer on-boarding solution that is intuitive, interactive, and user-friendly. The interface provides online customer opening forms that can be accessed at any time and from any device while remaining fully compliant with regulatory standards such as Blacklist, FATCA, CRS, AML, Risk Rating and Credit Rating.

 Intuitive & agile

Designed with a three-decade-long understanding of customer onboarding related challenges, the ETHIX NG Customer Management interface is smart, comprehensive, and simple. Users have the flexibility to complete online applications in one session or save intermittently and come back later for completion. The flexibility of ETHIX NG Customer Management’s Configurability provides a future-proof solution that helps banks and financial institutions adapt to a dynamic market and changing customer needs.

Customer satisfaction guaranteed

With improved turnaround times and enhanced services, higher risk tolerance level and de-risking of business processes, ETHIX NG guarantees higher levels of customer satisfaction.

Simple and fast

ETHIX-NG easily captures customer data from external sources with automatic data population making the customer onboarding experience faster and easier. The Card Reader can be used with identification documents including CIVIL ID cards, with data auto fetched and pre-filled into the application form reducing the need for additional typing or validation steps. ETHIX-NG also supports multiple biometrics for verification throughout the customer on-boarding journey in addition to allowing digital signature handling to support organisations aiming for a paperless workplace.

Controlling credit risk

ETHIX NG supports banks and financial institutions in managing and controlling credit risk, providing the banks and financial institution with a flexible end-to-end functionality combined with unmatched scalability to reduce risks and minimize human errors. ETHIX-NG’s Intelligent Credit Analysis and Facility Granting module, allows banks and financial institutions to control credit risk at all levels. This includes at the point of origination, upon individual account review, at the portfolio level, and also to control operational risk using ETHIX-NG standardized workflow to enforce credit management policies.

Accurate analysis

Financial statement analysis is a key process in Corporate Financing and ETHIX-NG Financial Analyzer provides unmatched flexibility in the ability to define financial spreading ratios and calculations. On the retail side, ETHIX-NG provides a template-based retail credit analysis, and according to the financial institution’s needs, a credit analysis template can be designed with the ability to create score cards for different products, define the factors inside the score cards and evaluate the customer automatically.

Robust Collateral Management

ETHIX NG delivers a robust Collateral Management Engine that enables banks and financial institutions to define collateral categories, such as Vehicle, Commodity, Property, Shares, Portfolio, etc. and design the needed input data by collateral category.

Eliminating guess work

ETHIX-NG’s Rule Based technology automates processes, including application approvals to create an effortless user experience. Using Industry-leading scoring technologies, ETHIX NG eliminates the guesswork in Financing and credit decisions, even with high-risk clients. Its sophisticated self-learning algorithm supports the credit management operation in making faster and more accurate decisions, while its rule-based credit decisioning reduces the risk of non-repayment. With ETHIX NG automatic or semi-automatic decision making that is made in seconds can ensure the banks and financial institution is working with the right borrowers on the right terms.

Simplifying & automating the credit decision process

Banks and financial institutions are faced with increasingly complex credit scenarios with the need to incorporate a variety of risk-related information about their customers. ETHIX-NG provides an integrated and easy-to-use solution built around the unique needs of the credit decision process. ETHIX-NG improves productivity throughout the entire credit lifecycle by centralizing information from many sources and by automating routine tasks. This also substantially reduces paper usage by providing a convenient electronic credit file.

Flexible & Automated

The Collateral Management Engine allows banks and financial institutions to create collateral pools and attach the finance/deposit/limits to the collateral pool or attach individually to multiple collaterals with different lending values, supporting the attaching of both cash and non-cash collaterals to the accounts with multi-currency capability. ETHIX NG Collateral Management Engine facilitates the processing and automatic revaluation of collaterals affecting customers’ financial statements and position.

Streamlining Financing

ETHIX-NG provides a complete end-to-end Financing management operations solution that brings origination, analysis, underwriting, documentation, and executive reporting together in a collaborative, streamlined way. ETHIX-NG addresses the workflow management needs for the entire Financing operations through a unified, relationship-centric view of the customer’s financial data, supporting documents and portfolio management capability.

Dynamic Workflow

ETHIX NG Finance Origination & Operation Engine is completely managed by a dynamic workflow configured by the banks and financial institution. The Engine provides the User with the facility to define properties of the cash flow plan which will be used in each transaction, in addition to defining the business model that the banks and financial institution can apply. This is mapped at the end to Fixed Native Applications related to the Banking and Financial Industry including Finance, Leasing, Trading, Investment & Treasury and Reverse Financing.

Dynamic Finance Management

ETHIX NG Finance Management Engine automates the lending operations of Islamic banks and financial institutions, supporting all types of lending products such as Personal Finance, Syndicated Loans, Murabaha, Istisnaa and others. The Engine provides a variety of finance profit calculation methods, a flexible rates mechanism, and a dynamic repayment schedule generation engine that can support an unlimited number of payment schedules.

Comprehensive Agility

The Finance Management Engine delivers optimal flexibility to banks and financial institutions. The Engine facilitates skipping a payment, early payment or finance payoff, in addition to the offering of flexible charges and commissions capabilities that provide the banks and financial institution with the ability to define their own charge matrix and apply this charge within the finance life cycle while including VAT and other Tax schemas.

Intuitive Automation

ETHIX NG Finance Management Engine allows the facility for auto collection of instalments from customer account on the due date, with multi-settlement capabilities and the definition of a coverage account in case insufficient balance available in the main settling account. The intuitive Engine Automatically applies a hold on the account for the past due instalment in order to retry collecting the amount once the funds are available.

About ITS

International Turnkey Systems (ITS Group) provides advanced technology solutions for banks, government, and other private sector organizations across a wide array of industry, with demonstrated technology competencies and high-end skill capabilities that support client’s critical business functions Headquartered in the State of Kuwait, with R&D facilities in Kuwait and Cairo and a presence throughout the Middle East, Africa, the Americas, the Caribbean and the Russian Commonwealth (CIS), ITS Global Business Solutions Development Center (GBS) in Cairo delivers Managed Services globally, bringing expertise to all stages of the software development process, and providing the support companies need to transition from legacy systems to new technologies. Our award-winning flagship solutions package, ETHIX, supports the digital transformation of financial institutions and is trusted by leading banks worldwide.