Fusion Islamic will provide the bank’s customers with a consistent experience in branch and across all digital channels, whilst complying with Shari’ah requirements.
Monday 04, March 2019 BY KUDAKWASHE MUZORIWA
Iraq’s Al Taif Islamic Bank has adopted Finastra’s Fusion Islamic, a core banking solution dedicated to the Islamic market, to inaugurates its retail business.
Fusion Islamic is expected to alleviate pressure on the bank's technical teams whilst ensuring rapid time-to-market, minimising risks and maximising efficiency.
In a statement, Finastra stated that its 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, giving it a competitive edge.
Reda Hamza, CEO at Al Taif Islamic Bank said, “We are looking forward to collaborating with Finastra and continuing our success story with our broad base of customers and positioning ourselves as leaders in Islamic Banking in Iraq.”
Additionally, the bank will use FusionFabric.cloud, Finastra’s platform for open innovation, was also a draw, which will enable the bank to develop new features and capabilities in the cloud in the future.