ICS remains privately owned. Its police automation business is narrowly its largest market segment, but it has a reasonable and growing presence in the financial services sector, albeit with a fair amount of competition in its region. While it hasn’t benefited from the rise in Islamic banking to the same extent as Path Solutions, it does have a clutch of Islamic banks as users. Its system seems to span a wide range of activities and appears to have a clear cost advantage over much of the competition. With the exception of one or two banks, all of the users appear to have more or less the full breadth of functionality. Deals over the last few years have taken Banks into new territories and it has ambitions to build on its African inroads. In Europe,
its Greek taker is no longer a user but was able to boast GTBank in the UK. It looked as though this international experience might also reinforce its position in its traditional markets, especially within larger banks which were starting to seek greater sophistication in their banking applications. Its users appear to be mostly happy (as reflected in the Nigerian decisions post-consolidation and multiple sales into some banking groups) and the system does not seem to have had problems being implemented, although there have been one or two replacements of late. Overall, the supplier has a solid base but fairly limited profile outside of its geographical areas of strength.
