Ethiopian lender Oromia International Bank (OIB) has gone live with ICS Financial Systems’ (ICSFS) banking solutions.
OIB replaced its legacy system with ICS BANKS Universal Banking and ICS BANKS Interest Free Banking (IFB) software suites. The upgrade will enable the bank to offer its customers with conventional and interest free banking services across its branch network.
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The Ethiopian lender has 264 branches in the country.
According to ICSFS, the bank’s end-of-day processing has reduced to less than 30 minutes following the implementation.
OIB president Abie Sano said: “The Ethiopian banking industry is flourishing, especially in the interest-free banking sector. OIB is one of the most influential banks in Ethiopia, as we have around 2 million customers from corporate to individual, and from baby boomers to millennials.
“ICSFS’ products and services work hand-in-hand with our philosophy and approach; to work on full-speed to offer our variety of customers a successful journey, especially as we are diving into a frictionless future.
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By GlobalData“Thanks to ICSFS’ true comprehensive offering, we are now capable on servicing each customer with their specific needs and demands.”
ICSFS delivers modular and universal banking systems to financial institutions. Its product portfolio includes ICS BANKS and ICS BANKS ISLAMIC.
In January this year, Iraq’s Al Mustashar Islamic Bank deployed ICSFS banking software.
