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June 17, 2014updated 04 Apr 2017 12:56pm

Jordan Kuwait Bank implements ICSFS banking solution

Jordan Kuwait Bank (JKB) has successfully deployed the ICS BANKS banking suite from ICS Financial Systems (ICSFS), to boost its operational efficiency.

Jordan Kuwait Bank (JKB) has successfully deployed the ICS BANKS banking suite from ICS Financial Systems (ICSFS), to boost its operational efficiency.

The Jordanian bank replaced many legacy systems, including an in-house system, and 25 banking satellite systems that was completed within a span of 18 months.

ICS BANKS offers a comprehensive suite of banking business modules with various functionalities and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance.

The implementation of ICS BANKS will enable JKB to deliver modern products through newly applied suite of applications that cover core banking, remittances, credit facilities & risk groups, lending, trade finance, treasury & investment systems and wealth management.

Additionally, the lender has also picked up an array of other supporting systems such as, ICS BANKS Retail and Corporate IBS (Internet Banking System), Fixed Assets, Provisioning, in addition to BI (Business Intelligence) and Data Warehousing.

JKB chairman Kabariti said, "With the new Universal banking system, ICS BANKS, JKB will be able to provide complete suite of banking services meeting all local and international standards and requirements in the financial sector."

ICSFS managing director Robert Hazboun added, "ICS BANKS will enable rapid delivery of a consistent set of comprehensive products and services, which will help the bank transform operational procedures to meet current and future financial industry standards."

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