Bank Al-Tamweel Wa Al-Inma (BTI Bank) has signed for Path Solutions’ iMAL Islamic core banking platform for its retail, commercial and corporate banking operations, as well as multi-channel support, analytics, risk and compliance.
The new system will cover the Morocco-based lender’s internet banking, mobile banking, participatory invest, participatory treasury, delivery channels, trade finance operations and financial messaging, while ensuring compliance with local participatory banking regulations.
Mohamed Maarouf, general manager BTI Bank, said: “Our strategy is to benefit from information technology evolvement as it is impossible to attain long-term business objectives without leveraging the benefits of information technology in this digital age. We believe that iMAL Islamic core banking platform will support us in our mission of pursuing our growth strategy. iMAL will provide a sound infrastructure that will allow our bank to foster considerable innovation by launching a series of products that comply with the tenets of participatory banking.”
“We are glad to see our multi-award winning iMAL Islamic core banking platform being selected by the second participatory bank in Morocco, not least due to the wealth of experience Path Solutions has acquired over the past twenty-five years in providing proven Sharia-based software solutions to its large client base. BTI Bank will be running on modern, open technology, thus giving robust quality to its daily banking operations,” according to Mohammed Kateeb, group chairman and chief executive officer, Path Solutions.
Source: IBS Intelligence