Baghdad, Iraq: ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, today announced the success of its Iraq User Group Summit: “Accelerating Digitalisation and Innovation in Iraq”. ICSFS showcased its holistic awards-winning banking software application; ICS BANKS with its latest new modules, features and innovations. The summit was held on Tuesday 21st June 2022, at the prestigious Babylon Rotana Hotel in Baghdad.

ICSFS in partnership with AL-AWAEL, Fortinet, and Huawei, brought together a comprehensive one full day. Emphasising on the importance of digital transformation processes and roadmap, and its utilisation in banking and financial institutions, which provides a great service to users in managing their accounts remotely, financial inclusion, better customer service and more customer reach. During the summit, ICSFS presented the latest innovations and products that are embedded within its latest Digital Banking Platform that includes customer on-boarding, E-KYC, Open Banking Platform and API’s, Business Process Management & DMS, Artificial Intelligence, Robotics, Blockchain Adaptor, Cash Management Solution, Mobile and Internet Banking. In addition to that, ICSFS presented the audience with a full comprehensive IFRS9 solution, Credit Risk, Customer Classification and BASEL requirement that is in compliance with the international regulations and covers the Central Bank of Iraq’s requirements.

ICSFS has a very strong presence in Iraq, and has been servicing the Iraqi market for over twenty years. ICSFS is the preferred and most trusted technology partner in Iraq, with over 30 active customers who have chosen ICSFS for its continuous technology innovation, high security and reliability and holistic products and services offerings.

Executive Director of ICSFS, Mr. Wael Malkawi stated: “As digitisation and IFRS 9 requirements have been challenging banks and financial institutions, ICSFS demonstrated the Iraqi banking and financial institutions sector with bespoke solutions, which will help them and their customers in coping and embarking on the digital banking revolution, while taking advantage of many innovative opportunities that come with it. We are very happy with the positive feedback and incredible outcome of this event. Our customers in Iraq showed great interest in adopting ICS BANKS latest innovative products and services including ICS BANKS Digital Platform. I would like to seize this opportunity and thank all our partner and attendees for making this event a great success.”

General Manager of AL-AWAEL, Mr. Zuheir Qulaghassi commented: “AL-AWAEL is one of the biggest IT solution provider companies in the region, with more than 30 years of experience in integrated business, cyber security solutions, and cloud technology in Iraq, Jordan, and the Middle East. Customer satisfaction is our top priority. Our partnership with ICSFS and other vendors help us in providing the best ICT and integrated solutions to our customers. I would like to take this opportunity to announce the opening of our new offices in Iraq, in the Al-Qadisiyah region, Baghdad.”  

The conference was attended by over 120 attendees, representing more than 40 banks and financial institutions, who explored current and future opportunities on:

  • How to Accelerate Digitalisation and Innovation in Iraq
  • IFRS9 – Road Map and Credit Scoring Techniques
  • Risk Management & Basel Compliance
  • Full stack Digital Bank Transformation
  • Data Center Facilities & Faster Storage Solutions
  • Achieving Cybersecurity PCI requirements
  • Cybersecurity Mesh Architecture by Gartner
  • Security Operation Center and Automation

ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suite future-proof banking and financing activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers' journey experience, hence improving the trust and confidentiality with customer. ICS BANKS has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), Digital Platform.

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