Al-Rajhi Bank goes live on ICS BANKS banking solutions

The move aims to allow Al-Rajhi Bank Jordan’s customers to have an optimised and improved digital banking experience via ICSFS’ Banking System by offering them additional Shari’a-compliant financial services, including Ijara, Murabaha, in addition to Joint Investment accounts, Time Deposits, Istisna’a and Parallel Istisn’a, Islamic Treasury system, and Islamic-Investment Certificate of deposit. This focuses on delivering more value to Al-Rajhi Bank’s offering, whilst increasing financial inclusion in the region.

Moreover, the collaboration enables Al-Rajhi Bank Jordan to benefit from an enhanced digital banking system with several solutions such as ICS BANKS® Business Process Management (BPM), ICS BANKS® Credit Facilities and Risk Group, ICS BANKS® Internet & Smart Mobile for retail and corporate, SMS Banking, ICS BANKS® Digital Global Transaction Banking solution, ICS BANKS® Treasury, Trade Finance, Remittances, ERP, and DMS, as well as a suite of banking productivity tools that comes built-in with ICS BANKS® system including ICS BANKS® reporting, notifications, Nostro Reconciliation, 360° Customer Exposure, e-KYC, and Loan Origination modules. These solutions intend to simplify operations for the bank and to improve its position in the market by allowing it to integrate into its processes modern capabilities in banking technology.

According to Al-Rajhi Bank Jordan’s officials, the upgraded mobile app focuses on offering a more simplified and user-centric customer experience, which can make banking more convenient and efficient. The current announcement also supports the bank’s commitment to delivering solutions that better serve its customers and meet their evolving needs and requirements.