LONDON – The latest edition of World Finance magazine is out now and has confirmed ICS Financial Systems (ICSFS) as Best Islamic Banking & Finance Technology Provider as part of its Islamic Finance Awards. The Islamic banking sector has been growing rapidly in recent times and it is certainly an area of the market that ICSFS has been supporting through its Shari’a compliant solutions.

One of the products that particularly caught the eye of the World Finance judges was ICS BANKS, a fully integrated banking application developed by ICSFS that enables banks to automate and streamline their services. ICS BANKS comes with a bespoke Islamic service that has helped financial institutions to achieve a competitive edge by offering a comprehensive suite of Islamic banking solutions. In an interview with World Finance, Robert Hazboun, Managing Director of ICSFS, explained why the platform is making such a difference to customers.

“ICS BANKS helps banks stay at the cutting-edge of technology through applications like cloud banking, APIs, open banking and blockchain,” Hazboun explained. “ICS BANKS’ customers can also enjoy a clear flow of information online using the platform’s reporting tools. This enables them to easily understand and analyse their status at any time, which can help inform their decisions regarding mergers and acquisitions. Lastly, ICS BANKS’ innovative technological tools future-proof banks and transform them into pioneers in their industry.”

Although the popularity of Islamic banking has grown significantly in recent times, the products and services available to customers often remain underdeveloped. The work being undertaken by ICSFS demonstrates that this is unlikely to remain the case for much longer.