Members News

The Jordan Payments and Clearing Company “JoPACC” announced the launch of its first ever Incubation Program, through its newly inaugurated JOIN Fincubator. The Incubation Program, which officially began its first session on July 2nd, aims to enable qualified fintech startups to develop their initial business models by providing them with an array of support services that will ultimately enable them to launch their solutions in local and global markets.

It is worth noting that a prerequisite Bootcamp Program was held prior to the start of the Incubation Program, where the thirty participating teams were equipped with basic knowledge about the financial sector. The Bootcamp Program enabled the teams to prepare their initial business model canvases and verify that their fintech ideas are aligned with market needs. Out of the thirty participating teams, sixteen teams qualified for the Incubation Program, whose fintech ideas served different industries including real estate, e-commerce, finance and banking, and included topics such as credit scoring, and financial management.

JOIN’s Incubation Program comprises three main phases, firstly, the “Validation Phase” focuses on validating the participant’s proposed fintech solutions and ensuring that these solutions are products or services that solve real problems. This phase, which spans four weeks, includes workshops on applying “Lean Startup” methodologies, getting accustomed to startup legislations, conducting market research and analysis, and getting feedback from mentors.

The second phase, or the “Shaping Phase,” extends over eight weeks, during which the startups define their target customers, identify their needs, and develop the best strategies to attract them. This phase additionally sees participants trained on different topics, including effective leadership and negotiation skills, customer acquisition and retention, branding, marketing, communications, business development, and sales.

The third phase, the “Building and Developing Phase,” extends over eight weeks and features the actual process of building and developing prototypes or Most Viable Products “MVPs” that meet and serve market needs. This final phase ends with a “Demo Day,” where startups present their MVPs and pitch their solutions to potential investors and financial institutions, providing them with access to funding and finance. This year’s “Demo Day” is expected to take place between November and December in JOIN Fincubator’s Yearly Summit, which will celebrate JOIN’s most notable milestones and accomplishments throughout the year.

JOIN Fincubator is considered to be a launching platform for innovators and startups that enables them to test and develop their fintech solutions. Moreover, JOIN provides its participants with a range of resources, including access to a sandbox, infrastructure, expertise, and training, and partnerships. JOIN further facilitates access to different markets, and funding opportunities, allowing startups to passport their innovations to regional and international markets.

Al-Busairi Bank for Microfinance, a newly-established bank in Yemen, has successfully gone-live in record time on the fully fledged Shari’a compliant ICS BANKS® Islamic Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.

Al-Busairi Bank for Microfinance was registered and granted all necessary licenses by the Central Bank of Yemen, and will be delivering comprehensive Shari’a-compliant Microfinancing products and services to the Yemeni market, and will be implementing ICS BANKS® Islamic Core, Credit Facilities & Risk Groups, Remittances, and ICS BANKS® Digital Banking, in addition to a wide range of Islamic banking products.

Mr. Abdullah Mohammed Al-Busairi, Deputy Chairman of the Board at Al Busairi Microfinance Ban

“Having worked with ICSFS’s team during the implementation phase, I’ve grown more confident in my choice of their Innovative Banking Platforms, they demonstrated real knowledge and professionalism, and offered valuable insights along the way which enriched our staff’s experience and command over their respective positions within the bank. The unified Financing solution delivered by ICS BANKS® has proven to have significant advantages with its easy-to-integrate modules and innovative features, which will be extremely helpful to our inauguration into the Yemeni market and quickly placing us amongst the market leaders.”

Al-Busairi Bank has set their sights to deliver various Shari’a-compliant products that are supported with a wide range of digital touchpoints in pursuit of extending financial inclusion for Yemeni SME’s and individuals and making financing products more accessible to the Yemeni market. All of which is made possible via the ICS BANKS® comprehensive open banking platform.

This implementation at Al-Busairi Bank, which was completed in a record time of 1 month, contributes to realizing the banks vision to offer true success opportunities to their customers and get ahead much faster in the market.

Mr. Wael Malkawi, Executive Director of ICSFS

“We are proud of yet another successful go-live in Yemen, marking not only our growth as a financial systems developer, but more importantly another milestone towards a stable and thriving economy in Yemen where Microfinance inclusion is expanding exponentially thanks to patriotic establishment like Al-Busairi Bank. Once again, we confirm our commitment towards providing excellent support and cutting-edge financing technologies as a part of our role in the success of our partners. Our robust ICS BANKS® Islamic Banking Solution comes with a promise of providing a stable, expandable, and cost-effective system that is continually updated to ensure the utmost compliance with Islamic Shari’a regulations locally and internationally.

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.

From TjDeeD Technology participation in the Jordanian-Iraqi Finance & Business Forum

We had engaging discussions with leaders from different industries and an amazing opportunity to showcase our solutions at the exhibition.

Announcing the launch of cooperation on multiple projects at the level of Iraq to develop cyber security systems and infrastructure in various sectors.

Green Circle, in alliance with its international and local allies (Princess Sumaya University for Technology, Cloudsec, motion technology), has launched advanced projects that reflect on the development of digital services and secure digital transformation, also in partnership with motion technology, will launch services soon.