ICS Financial Systems Ltd. (ICSFS), global provider of the award-winning Universal and Digital Banking software solution, ICS BANKS®, has announced the successful Go-live of ICS BANKS® Universal and Digital Banking Solutions at the African Bank of Oman (ABO), marking the first implementation of ICS BANKS® into the Angolan market and expanding the strategic footprint of ICSFS across the African continent.
African Bank of Oman (ABO) is a corporate and investments bank specialised in transaction banking and trade finance with a structured focus on supporting large cooperates engaged in trade between Angola, the GCC, and surrounding regions, with an aim to unlock economic growth and contribute to a stronger market and more sustainable resource utilisation. This will be achieved by leveraging the intelligent features and modular flexibility of ICS BANKS® alongside its future-ready, digital-first foundations, which supports the dynamic configuration and deployment of new products, real-time and seamless customer onboarding, and deliver a truly digital, customer-centric experience.
Mr. Antonio Dinis Mendes, CEO of African Bank of Oman, commented:
“Launching African Bank of Oman on ICS BANKS® marks a defining moment in our journey. From inception, our vision has been to build a forward-looking financial institution that not only delivers innovative banking services, but also contributes to shaping Angola’s economic future and strengthening the bridge between Africa and the Middle East.
We are committed to empowering businesses, unlocking opportunity, and supporting the development of key sectors aligned with Angola’s long-term growth ambitions. This required a resilient and scalable technology backbone capable of enabling progress, fostering investment, and delivering a seamless, customer-centric digital experience. With ICSFS as our technology partner, we are well-positioned to support sustainable growth, build solid client partnerships, and deliver banking that is reliable, forward-looking, and built on purpose.”
As part of its mission to bring innovative holistic banking services into the Angolan financial market, ABO selected a suite of advanced, integrated solutions from ICSFS, Including ICS BANKS® Global Transaction Banking (GTB), delivering real time digital corporate cash and liquidity management, as well as secure and efficient processing of domestic and international payments across multiple channels; ICS BANKS® Trade Finance enabling the structured processing and management of trade instruments such as LCs, LGs, and documentary collections to support cross border trade and mitigate associated risks; ICS BANKS® Credit Facilities & Risk Groups and ICS BANKS® IFRS 9 ECL with AI-powered PD Modelling to strengthen credit assessment, exposure monitoring, and regulatory compliance; as well as ICS BANKS® Investment Banking, supporting capital markets activities, deal structuring, and corporate finance operations; and ICS BANKS® Treasury, providing advanced capabilities for liquidity management, asset and liability management, and financial risk control.
Together, these modules establish an integrated technology ecosystem that enhances governance, strengthens enterprise-wide risk visibility, and enable seamless corporate and investment banking with a convenient digital experience.
Mr. Robert Hazboun, Executive Chairman of ICSFS, commented:
“We are pleased to welcome African Bank of Oman (ABO) to our growing community of financial institutions as they commence operations, marking the launch of a new banking entity driven by a clear vision to support economic growth and strengthen financial connectivity between Africa and the Middle East. We share in ABO’s commitment to innovation and availing every opportunity for progress and prosperity to the banking sector in Angola.
This successful go-live also represents a significant milestone for ICSFS as we debut into the Angolan market, which we view as a vital hub for digital transformation and financial inclusion in Africa. By establishing our presence in Angola, we are not only expanding our footprint but also aligning with a forward-thinking economy that is rapidly modernising its financial infrastructure.”
Bringing a new institution to life on a fully integrated, end-to-end platform requires clarity of vision and disciplined execution, and this achievement has demonstrated both. ICSFS is proud to provide ABO with a resilient digital foundation that ensures they deliver operational excellence and support sustainable growth from day one.
ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS® software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers journey experience, hence improving the trust and confidentiality between the customer and the bank. ICS BANKS® has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system can be deployed on-premises, hybrid, or cloud.