The CEO of ITS, Mr.Esam Alkheshnam speaking at the Opening Ceremony of the Sixth e-Government Forum (EGOV6)!
The global Islamic banking and finance industry continues to go from strength to strength and is expected to experience further growth in the coming years. The Global Islamic Finance Report 2018 expects the global size of the industry to reach US$3 trillion by 2020. ISFIRE had the opportunity to speak with Esam Alkheshnam, CEO of International Turnkey Systems Group (ITS), about the new age in Islamic banking, and ITS's role in supporting the industry's progression.How is fintech shaping up the islamic banking and finance industry? Fintech is revolutionising the banking landscape the same way Uber disrupted the taxi industry and Airbnb shook up the hospitality sector. In the past few years, fintech has emerged as one of the primary challengers and disruptors of the once-traditional banking industry. Within the Islamic banking and finance industry, fintech is undoubtedly the most significant driver of change in the new Islamic banking era, one that will have considerable social and economic impact across the globe. Fintech encourages financial inclusion, substantially elevate customer banking experience, and improves organisational efficiency. In the area of social development for instance, fintech has ushered in a new paradigm in the design and implementation strategies of financial inclusion. Smartphones for mobile banking and investing services are technologies that are making financial services much more accessible to the general public.
ETHIX World-Class Product Range Acclaimed at Islamic Retail Banking AwardsAlkheshnam: “This award is a testimony to our continued success in delivering on the commitment and to continue empowering banks and financial institutions to succeed in today’s digital banking age”.Kuwait, November 2018: International Turnkey Systems Group (ITS) is a key player in the provision of advanced financial technology solutions (FinTech) and services that are designed to transform banks and financial institutions (Islamic & conventional) to the new digital age. The Company was named the winner of the Critics’ Choice Best Digital Banking Solution 2018 for its innovative ‘ETHIX’ product range at the 4th Islamic Retail Banking Awards (IRBA).
The innovative "ETHIX Finance" solution delivers numerous advantages to financial institutions.International Turnkey Systems (ITS) is a key player in the provision of advanced technology solutions and products that are designed specifically for traditional and Sharia-compliant banks and financial institutions. Aligned with its development strategy, the Group has recently expanded into new markets, particularly in Africa, through the signing of several key agreements with a number of banks and financial institutions where ITS has leveraged its in-depth experience and long track record of success, differentiated products, as well as expert human capital to gain competitive advantage.Group CEO, Essam Ibrahim Alkheshnam said: "Since my appointment as ITS CEO, I have reviewed and reevaluated the Company strategy, considering economic changes in the region as well as in other emerging markets, and assessing ITS global market share compared to our competitors. Our strategic focus is on three main themes. Firstly, to continue to provide the best products and services to our customers; Secondly to invest in the development of new, innovative products in order to maintain our market leading position, keep abreast of global technological innovations, and meet customer needs, and Thirdly; to enter new and promising markets. In relation to the latter, the Group has, despite fierce competition, succeeded in obtaining several contracts, in these potentially lucrative markets. despite the fierce competition in these markets.He also mentioned that the strategy of investing in the development of new products has seen the company win a number of international awards whilst offering its lauded digital technology solution, "ETHIX Digital Suite", to more than 9 companies over the last 2 years.
Alkheshnam: “ITS is delighted to win this highly prestigious award underscoring our continued position as a market leader recognized for delivering world class products and services”.October 2018: International Turnkey Systems Group (ITS), the market leading provider of comprehensive Shariah-compliant financial solutions, was recently awarded the "Best Islamic Finance Technology Provider 2018" at the prestigious Global Islamic Finance Awards ceremonies held in Sarajevo, Bosnia and Herzegovina.