Mohammed Kateeb, Path Solutions’ Group Chairman & CEO

Path Solutions has announced the completion of a successful upgrade of the iMAL Islamic core banking platform at Boubyan Bank.

The bank states that its decision to upgrade to the new iMAL R14 version forms a part of a plan to transform the bank into an all-digital platform to deliver efficiency, enhanced customer experience and lower operational costs. The new platform is expected to enhance performance, reduce time-to-market for new products, enable the bank to move to insights-driven customer relationships thus bolstering product innovation.

Adel Abdul Wahab Al-Majed, Vice-Chairman & Chief Executive Officer of Boubyan Bank. “Through this recent iMAL modernization, we are better prepared to take advantage of the latest innovations, a full functional coverage that is constantly enriched, and an ever-evolving and scalable architecture. I proudly salute both teams who, despite a very tight project schedule with a huge scope, were able to deliver the benefit and value expected, i.e. meeting performance requirements and service levels, such as availability, reliability, and speed.”

Mohammed Kateeb, Path Solutions’ Group Chairman & CEO commented, “ We are very excited to be able to support the bank’s strategic digital transformation and aggressive growth initiative through the new open architecture of our Islamic core banking platform that will help them achieve full digitalization, high customer satisfaction and unprecedented operational efficiency. We are confident that the new version of iMAL will empower Boubyan Bank to be an important leader in the new realities of the current financial services revolution”.

Founded in 2004, the Boubyan Bank, an Islamic Bank in the state of Kuwait, provides banking services in compliance with the provisions of the Islamic Sharia to individuals and corporate customers.

 

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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