Members News

QUILL celebrated the company 1st Anniversary today, during the celebration Quill CEO Mr. Alaa Khalaileh made a welcome speech and int@j CEO Engineer Nidal Bitar made a keynote speech

for more details about Quill, click here 

CellQual Communications have been awarded ISO 9001:2015, ISO14001:2015, and ISO45001:2018 certifications, an internationally recognized standard that ensures that our products and services meet customers’ needs through an effective quality management system.

It also assures that CellQual has solid, clearly defined procedures in place in all our business areas, as well as a strong business continuity process.

To become ISO 9001:2015 certified, CellQual implemented its Quality System Management and successfully passed a full audit conducted by AQC Middle East LLC to assess our performance and compliance with the requirements. The evaluation process included a quality management system development, a management system documentation review, and interviews.

Likewise, CellQual has also received the ISO 14001:2015 related to Environmental Management and ISO 45001:2018 related to Health & Safety.

Jordan Payments & Clearing Company (JoPACC) just launched the IBAN Confirmation Service, which can be used for different payment systems that consider the IBAN a payment address.

This service will benefit systems such as CliQ, ACH (Automated Clearing House), and RTGS (Real Time Gross Settlement).

The IBAN Confirmation service aims to reduce the rejection rate of payments on different systems. In addition, it minimizes the chances of sending a transfer to the incorrect recipient, ensuring smoother transfers.

Learn more about the IBAN Confirmation Service https://bit.ly/3VWaiSD

CloudVests-Jordan organized AWS Architecture Best Practices Conference, with a carefully selected line-up of world-class keynote speakers from AWS, Little Thinking Minds and CloudVests.

During the conference the following topics were covered:

• AWS Well-Architected Pillars
  · Resources Optimization in Practice
  · DevSecOps – Integrate Automated Security Testing

The fruitful event increased market awareness and knowledge about the ROI of AWS Architecture Best Practices implementation.

Mahmoud Zamel

ProgressSoft’s Chief Solution Architect 

The examined fall of the Euro in the last quarter of 2022 and the potential fall of other universally recognized currencies is urging not only economists but the financial sector, to analyze the opportunities, risks, threats and trends in the upcoming period.

With that, there are 3 emerging trends that seem to be leading the financial sector in the first half of 2023. While those trends may not get fully realized within the same year, they are worth investigating by financial institutions, after all, no one can tell if we will be skating smoothly on the Alps or hopping the discrete trenches of the Himalayas!

1. Concept of Money Reformation

Since 2008, cryptocurrencies have been disrupting the financial sector, with the aftermath opening new doors for the adoption of blockchain and Distributed Ledger Technology (DLT) in financial solutions and services. This is evident first and foremost in the global transition towards central bank digital currencies, which is anticipated to fully reform the concept of money.

Whether central bank digital currency issuance is accelerated by central banks in 2023 or not, banks are anticipated to expand their research and development in potential solutions they can build to offer new blockchain-based or DLT-based technologies.

These technologies will be utilized by banks to find new opportunities to reform the concept of money within the M0-M2 money spectrum, this includes managing assets that require smart contracts, or implementing delivery-versus-payment and payment-versus-payment services over DLT networks.

2. Open Banking

Open banking is becoming not only a trend but also a de facto standard that is expected to rule the banking industry for the next two decades. The list of already licensed digital banks had exceeded 350 holding assets of over 200$Bn so far.

It is expected that the concepts of virtual and digital banks will become a norm and the number of operating digital banks will double or triple within 2023. It is also expected that new licensed institutions and subsidiaries operated virtually by banks will arise.

Open banking requires financial systems and services to consider remote registration utilizing new compliance tools including Electronic Know Your Customer (eKYC), federated identity management and authentication, and Public Key Infrastructure (PKI) based electronic signatures. It also impacts not only the nature of omnichannels, but core banking systems. And the move to a fully cloud-native solution will be a must-have.

Accordingly, Payments Hub is a necessary solution that offers a fully digital, cloud-native, and compliant solution with SWIFT, ISO, and ANSI standards. It is the recommended platform to offer a spectrum of open banking functionality and integrate with local and international payment and blockchain networks.

3. Banks-FinTech Collaboration

Banks already recognize the need to either keep up or join forces with fintechs, and the result of this type of collaboration is expected to be seen between 2023 – 2025. On the other hand, many fintechs will also remain hesitant to collaborate with banks, despite their rooted expertise in the domain and larger customer base.

Despite all this, all parties involved in the financial sector, including customers, and banks and fintechs themselves, will benefit from this collaborative trend for several reasons: fintechs will make use of lower startup costs and higher customer retention rates, whereas banks will accelerate their digital transformation initiatives. As for customers, they will benefit from lower transaction costs and a massively enhanced portfolio of services!

Zain Jordan and Zinc organized yesterday an awareness session titled “Understanding 5G what impact will it have on our lives? ” with the participation of the Chief Expert – Middle East Region – Business and Strategy – Huawei Technologies Co. Ltd Mr. Abhinav Purohit

AFAQ Group renowned event’s organizer, has announced their new event Jordan Web 3.0 Summit on March  12-13, 2023

The first-of-its-kind event in the Levant region will bring together government officials & regulators, Web 3.0 speakers, investors, blockchain developers, crypto traders, NFTs creators, early metaverse adopters, financial institutions, fintech startups, DeFi & Dapp projects, in a  highly interactive expo and conference

“While the world is quickly turning decentralized, studies show that the region is widely adopting Web 3.0-based technology and becoming a promising market as well as a central hub,” commented Khaldoun Nusair, AFAQ Group Chairman.” At this early stage, Afaq Group is thrilled to take the initiative of creating meaningful connections between governments, businesses, and communities toward better utilization of this evolution.”

With a carefully selected lineup of world-class keynote speakers, the conference will explore Web 3.0 initiatives, innovations of blockchain and crypto technology, NFTs and Metaverse trends, and the future of decentralized finance

It is worth mentioning that the event will feature Jordan Web 3.0 Awards, providing prestigious recognition in a variety of blockchain and decentralized web-related categories, all voted for by an esteemed jury of international experts

Visitors can learn more and get their free tickets at www.web3jo.net