Qatar-based Barwa Bank has deployed ETHIX suite of financial services provided by ITS, as part of its plan to provide Shari’ah compliant financial products and services to its customers.
ETHIX delivers multi-channeled corporate and retail products and services in Islamic finance and investment including core banking, trade finance, branch automation, online banking, dashboards and reports among others.
These services will enable the Qatari lender to achieve greater efficiency, reduce operational costs, accelerate product development and create a stronger and valuable experience for its customers.
Barwa Bank group chief operation officer and GM international Keith Bradley said the bank invested in ITS technology as it wanted to ensure improvement in the services offered to customers in Qatar, providing the most competitive Islamic financial products in the market.
"ETHIX was the perfect fit for our business, offering a unified and consolidated solution, which centralized all our programs into one easy to manage system.
"It is specifically designed to meet our requirements in several aspects, including managing processes of completion and executing transactions, the integration of various departments, divisions and units to ensure streamlined access to information and swift transactions," Bradley added.
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The lender noted that the Shari’ah-compliant ETHIX solution has been developed to support financial institutions to reach operational excellence, accommodate growth and achieve cost leadership in the financial services sector.
Additionally, the ETHIX solution will integrate all of the bank’s services under one unified system, thereby allowing it to control and streamline processes across its entire business.