Baghdad, Iraq: First Iraqi Bank (FIB), a newly established fully digital bank in Iraq, has gone live on ICS BANKS Digital Banking solution from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to be the first fully digital operational bank in Iraq.
First Iraqi Bank is the first and only fully digital bank in Iraq, with a completely digital onboarding process to address financial inclusion. FIB’s customers can now easily open an account online in a very short time and enjoy a wide range of products and services. The implementation of the ICS BANKS Digital Banking solution took less than four months, where the teams of FIB and ICSFS achieved an astounding and seamless performance in reaching this milestone.
Mrs. Shaymaa Ali Hussein, Managing Director of First Iraqi Bank stated:
“First Iraqi Bank is the first fully digital bank in Iraq, to provide digital banking solutions. We have embarked on the digital banking revolution through our partnership with ICSFS. We are now providing one of the best – if not the best – comprehensive end-to-end customer journey in the Iraqi banking market. I am truly proud of what our team and ICSFS’ team have jointly accomplished, and happy to state that we are not just providing digital banking services to our customers, we are their financial advisor, manager, mentor, and supporter.”
Mr. Wael Malkawi; Executive Director of ICS Financial Systems – ICSFS stated:
“With no room for doubt, First Iraqi bank has paved its way into the digital banking journey, and I say it’s a journey, as innovative technologies will never stop emerging and disrupting the way we do business. The bank has leveraged ICSFS’ long and comprehensive business-coverage, cost-effectiveness with fast, productive, accurate, and hassle-free implementation. First Iraqi Bank’s partnership with ICSFS will future-proof their banking services through our world-class software, built on first-class technology.”
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 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 between the customer and the bank. 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), the system can be deployed on-premises or on the cloud.
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About First Iraqi Bank - (FIB):
First Iraqi Bank is the first and only, fully digital bank in Iraq. Leveraging the current customer demand for innovative, convenient, secure, and affordable banking services and solutions in the country. The aim is to establish a bank with the vision to transform the banking sector in Iraq, the MENA region, and other unbanked populations with a major cash-based society. The main objective of developing a stable and efficient digital payments infrastructure and leveraging the best practices of the East and the West. https://fib.iq/en
About ICS Financial Systems Ltd. - (ICSFS):
A leading provider of modern banking and financial technology powered by a very solid, agile, and digital banking platform as part of its DNA, launching innovative products that are constructed on a secured and agile integration. Its ICS BANKS software is a fully integrated universal banking software with many suites servicing the financial industry that provide open products with international standards, real-time business processing, and value-added capabilities of tailoring products, on-premises or on the cloud. ICS BANKS software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers' journey experience. www.icsfs.com
© Press Release 2021
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