GEC NEWS WIREQIIB has chosen Misys FusionBanking Essence Islamic. The bank is implementing the new solution in conjunction with Misys FusionBanking Party Management, to accelerate modern Sharia-compliant banking and build client loyalty through an enriched customer experience.
“The Islamic finance sector is highly challenging as a result of multiple players and strict regulations. In order for us to differentiate ourselves and grow, we must put the clients’ needs front and centre, providing them with superior customer service,” said Nasser Hasan Mahmoud, Head of IT at QIIB.
FusionBanking Essence Islamic is a new component of the broader Essence suite. It enables banks to rapidly transform architecture without the need to rip and replace. This agile building-block concept offers rapid construction of new finance processes at a granular level, driving down the high cost-to-income ratio of Islamic banks.
“We are committed to helping banks excel in the increasingly in-demand area of Islamic finance,” said Nadeem Syed, CEO, Misys. “QIIB will benefit from our cutting edge technology, optimising Islamic banking processes so that it can drive growth, performance and compliance. Having worked with the bank for many years, we are keen to continue supporting its transformation journey.”
