Finastra to power core retail banking at Al Taif Islamic Bank

Tuesday 5 March 2019 14:27 CET | News

Al Taif Islamic Bank has chosen Fusion Islamic, Finastra’s core banking solution dedicated to the Islamic market, to kick start its retail business.

The move will provide the new challenger bank’s customers with a user-friendly experience in branch and across all digital channels, whilst complying with Shari’ah requirements.

Finastra’s solution is delivered with pre-configured Shari’ah compliant products, which will help the bank develop new services faster and roll them out through multiple channels at low cost.

Al Taif Islamic Bank selected Finastra for possibility to extend the functionality of their product with features relevant to their needs. The ability to benefit from, Finastra’s platform for open innovation, was also a draw. This will enable the bank to develop new features and capabilities in the cloud in the future either internally or in conjunction with external parties including fintechs and developers.

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Keywords: Finastra, retail banking, Al Taif Islamic Bank, digital, innovation
Countries: World