Hammurabi Commercial Bank, a bank established by the Central Bank of Iraq, has selected ICS Banks Universal Banking Software Suite, by banking tech firm ICS Financial Systems (ICSFS), to support is banking infrastructure.
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CEO of Hammurabi Commercial Bank, Dr. Majed Al-Souri states: “We have chosen ICS Banks Universal Banking application from ICSFS for its long, proven track record and trusted credentials in providing bespoke banking technology services in Iraq.”
ICS Banks has been in production and live in Iraq for over 15 years, with over 25 banks in the country using it.
Wael Malkawi, executive director of ICSFS, says the implementation is a result of its objectives to grow its business, identify profitable opportunities, increase its return on investment (ROI), and reduce costs.
Despite this success in the country, the firm has lost some contracts to Path Solutions, another core banking giant in the region.
In other news, ICSFS recently completed the implementation of a blockchain proof of concept (PoC) at Arab Jordan Investment Bank (AJIB).
