System development


ICS continues to work on its offering. An asset management module was launched in 2008, the first taker for which was United Gulf Bank in Bahrain. A data warehouse solution was taken for the first time by an existing customer, Lebanese Canadian Bank. Other areas of advance were an e-brokerage platform and business intelligence tools. The vendor’s plan for the future was to try to expand its


presence in Africa, particularly Francophone areas, and to increase its footprint in the Islamic banking sphere – potential here was demonstrated by a win at Palestine Islamic Bank. ICS continues to have a dormant office in Delhi. This has not been used for some years, but ICS believes it may be of use in future. It has reportedly received interest from countries such as Bangladesh and Sri Lanka, but has so far been too busy to respond.


ICS signed eight new customers for Banks in 2009, and


also picked up additional work from Guaranty Trust Bank, taking the system for Liberia. ICS picked up business from non-bank institutions in its home market of Jordan, with Ahli Financial Leasing and Comprehensive Leasing Company, with non-bank deals seemingly an increasingly important part of the market for vendors in the Middle East. In French-speaking Africa, Sofibanque became ICS’s second customer in the Democratic Republic of Congo mid-way through the year, choosing Banks ahead of Oracle FSS and Delta Informatique. According to Wail Malkawi, ICS’s VP of business development, this win was due to the completion of customising the system for Francophone countries. Sofibanque, a start-up institution, was to implement most of the Banks system, and would offer both corporate and retail banking. However, the bank did not appear to have launched by late 2011. A Nigerian bank, Suntrust, chose Banks ahead of Oracle FSS and Infosys with a view to launching in 2010. The bank named a lower cost, a preferable front-end, good presentation of information and ICS’s track-record as reasons for its choice. The Banks system seems to span a wide range of


activities and would appear to have a cost advantage over most competitors, offering upgrades to all customers free of charge. In addition, the users seem to be happy and the system appears to have trouble-free implementations. A couple more go-lives in 2010 appeared to bear this out: Arab Jordan Investment Bank (AJIB) went live on Banks in early


2010. Its subsidiaries in Qatar and Cyprus were to follow in a second phase. Cyprus was successfully live by early 2011 and Qatar was due to follow by May that year. AJIB became one of the main reference sites for the supplier. ‘The implementation of the new core banking system was a major success. It was completed within the allocated budget and timeframe and the system is operating smoothly,’ said Wael Al-Qadi, assistant general manager at the bank.


Meanwhile, ICS continued to pick up business from


existing customers, this time in Palestine due to Palestine Islamic Bank’s merger with Al-Aqsa Bank. The latter, a user of the Banxware core system from another Jordanian vendor, Future Applied Computer Technology (FACT), decided to standardise its systems with the former, and move onto Banks. The conversion of the first two branches, in which FACT resources were involved, was completed at the end of May 2010.


New wins were harder to come by in the geographies


where ICS operates in 2010, though the vendor claimed five overall, down three on the previous year. Two of these were in Iraq, which were the subsidiary of Turkey-based Vakifbank and Iraqi Islamic Bank. Bank of Baghdad signed in Lebanon, and Yemen Kuwait Bank for Trade and Investment signed in Yemen. A leasing firm in Libya was also claimed by the vendor. In 2011, ICS again gained five wins overall, four of which were in the Middle East and two of which were Islamic. ICS gained two of the three deals on offer in its home


market of Jordan, picking up Military Credit Fund and Jordanian Kuwaiti Financial Leasing (JKFL). JKFL was a start- up leasing subsidiary of Jordan Kuwait Bank. ‘Already the majority of companies which specialise in leasing in Jordan use this application,’ said Haethum Buttikhi, chairman of the company. ICS then added another Turkish bank moving into Iraq, one of only three new signings on offer in this country in 2011. This was Al Baraka Turk Participation Bank (ABTPB), part of Al Baraka Banking Group. Established in 1984 to offer Islamic banking in Turkey, it had grown to over 100 domestic branches. The branch in Iraq, in the northern city of Erbil, was ABTPB’s first international outlet. The bank was looking for a system that was established in the country; its use by other Turkish banks here was also influential. Another 2011 win came from Jammal Trust Bank, a Lebanese private bank with 22 branches in the country and plans to expand into Africa.


Back Office Systems & Suppliers (BOSS) | www.ibsintelligence.com 339


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