ITS Reinforces its Stance in the MEA Region through its Pioneering Role in the Retail Islamic Banking Industry. As a global pioneer in the vicinity of Islamic finance worldwide and as one of the key technology providers for the Islamic retail banking in the Middle East, ITS participated in the 4th Annual World Islamic Retail Banking Conference in Dubai as a Gold Sponsor with the objective of reinforcing its stance and pioneering leadership in the Middle East and Africa region through its deep understanding of the financial services environment and the specific needs of the financial institutions in retail banking.
With 30 years of experience in Islamic finance, ITS Group was a major contributor to the discussions held about the challenges facing the industry, the lack of visible product differentiation in Islamic Retail Banking and the failure of Islamic Investment Funds to capture retail customers. ITS participated in the attempt to find answers to some critical issues including the challenge of meeting customers’ expectations and reaching customer retention & loyalty in today’s demanding & ever-changing market.
IsmailAli – Director Marketing, Banking and Global Operations discussed currentprospects and challenges related to Islamic finance, Islamic finance trends,the competitive landscape and how technology as an enabler can help Islamicbanking to move forward, and how ETHIX total solution and its diversecomponents can act as technology enablers for Islamic financial institutions.Ismail elaborated on the case of the National bank of Egypt in Sudan that wassuccessfully established as a new Greenfield Islamic bank via the support ofITS and ETHIX solution.
“The previous standpoint regarding Islamic Finance is that it does not utilizetechnology as much as it should. However, reality indicates that this is amisconception; Islamic financial institutions extensively and widely deploytechnology in an innovative way in order to offer customers ethical productsand services that fulfill their needs and aspirations, reach superb levels ofservice, and attain business and operational excellence”. Ismail Ali explained.“This is most apparent in the delivery channels, the advanced infrastructureand the diverse portfolio they offer” Ismail added.
During the 2-days conference, ITS provided a brief overview on ETHIXmulti-channeled corporate and retail products and services in the areas ofIslamic finance and investment including core banking, trade finance, branchautomation, online banking, dashboards and reports in addition to otherproducts and services that represent an answer to the challenges encountered bythe financial institutions in the Middle East and can only serve to enhancetheir competitive edge.