ICSFS powers Angola bank launch to advance digital banking

By Milan Rojan

ICS Financial Systems (ICSFS) has completed the implementation of its ICS BANKS Universal and Digital Banking Solutions at the African Bank of Oman (ABO), marking its first deployment in Angola and expanding its presence across Africa’s banking technology market.

Robert Hazboun, Executive Chairman of ICS Financial Systems, said: “We have viewed Angola as an important hub for digital transformation and financial inclusion in Africa, and this implementation has established a resilient technology foundation to support ABO’s long-term growth.”

The go-live has supported the launch of ABO, a corporate and investment bank focused on transaction banking and trade finance for businesses operating between Angola, the Gulf Cooperation Council (GCC) region and neighbouring markets. The implementation has provided the bank with a digital banking platform designed to support corporate banking, trade finance and treasury operations while enabling future growth.

The deployment has included ICS BANKS Global Transaction Banking, Trade Finance, Credit Facilities & Risk Groups, IFRS 9 Expected Credit Loss (ECL) with AI-powered Probability of Default (PD) modelling, Investment Banking and Treasury. Together, the integrated modules have enabled real-time corporate cash and liquidity management, digital customer onboarding, domestic and international payments, risk management and investment banking capabilities.

Antonio Dinis Mendes, Chief Executive Officer of African Bank of Oman, said: “We have committed to building a forward-looking financial institution that contributes to Angola’s economic future while strengthening financial connectivity between Africa and the Middle East. With ICSFS as our technology partner, we have been well positioned to deliver a resilient, customer-centric digital banking experience.”

The implementation has represented ICSFS’s entry into the Angolan banking market, supporting the country’s ongoing financial sector modernisation and digital transformation initiatives.

ICSFS has continued to invest in its banking technology platform, enhancing integration capabilities and regulatory compliance while supporting financial institutions with scalable digital banking infrastructure across international markets.