back Back

Tadhamon Bank goes live on Azentio Software’s iMAL

By Gloria Mathias

October 16, 2023

  • Accounting & Auditing Organization for Islamic Financial Institutions
  • APAC Fintech
  • APAC news
Share

Azentio Software, Cloud Data, Singapore News, Fintech News, APAC News, APAC Fintech, Islamic Bank, Shariah ComplianceYemen-based Tadhamon Bank, an Islamic financial institution in the MENA region has gone live with the latest version of iMAL, Azentio’s digital Islamic core banking platform.

This version of iMAL with its key business functionalities and a flexible and agile core processing engine will accelerate Tadhamon Bank’s transformation into a digitally advanced bank.

The features will maximize agility in the bank’s internal operations, enable interoperability across systems, facilitate business scalability, and speed up time to market for new products. The bank can drive digital innovation and resource efficiency to create new opportunities for its business.

Qasem Mohammed, IT Manager at Tadhamon Bank, said, “Our bank has been running on iMAL since 2010. Islamic banking is now on the cusp of a digital revolution, and in this context, with the upgrade to iMAL R14.5, we intend to leverage the best of digital banking features to meet the ever-rising expectations of our customers. The upgrade also includes several specific features that will help us smoothly adhere to the evolving regulatory regime governing Islamic finance, a critical requirement for us in a fiercely competitive segment.”

L Guru Raghavendran, Senior Vice President, Banking & Capital Markets at Azentio, added, “We take great pride in our enduring partnership with Tadhamon Bank and our role in their transformation into a leading Islamic financial services provider in the region. The bank’s transition to iMAL R14.5, a cloud-ready solution built on an open platform with extensive functionalities, is poised to revolutionize digital banking for millions of customers while upholding the highest standards of Sharia compliance.”

Tadhamon Bank can now serve more regions in Yemen without adding new physical branches and can better its service standards by offering frictionless customer experiences.

iMAL is a software certified by the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI). The R14.5 version is cloud-enabled, fully scalable with an n-tier architecture, and supports open banking and digital transformation; providing a truly omnichannel experience, by leveraging artificial intelligence (AI), blockchain, and other new technologies.

Previous Article

October 16, 2023

5 FinTech platforms helping kids secure their financial future

Read More
Next Article

October 16, 2023

Emirates NBD and DIFC unveil ‘National Digital Talent Incubator’

Read More






IBSi Daily News Analysis

UAE, money transfer

June 14, 2024

Accounting & Auditing Organization for Islamic Financial Institutions

Digital remittances surge as key lifeline amid global economic challenges, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 14, 2024

IDVerse brings Identity Verification solution to Temenos Exchange

Read More

June 14, 2024

Doha Bank & Mastercard partner to boost digital payments in Qatar

Read More

June 14, 2024

Paytiko brings its payment management solutions to Dubai, UAE

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023