Kurdistan International Islamic Bank (KIB) has partnered with Azentio Software to implement the iMAL core banking platform. The system will help KIB launch new Sharia-compliant products across finance, investments, deposits, treasury and capital markets. It will also incorporate a financial crime management and anti-money laundering (AML) system, which includes know your customer (KYC), sanctions screening, risk scoring and case management capabilities. The partnership will enable KIB to improve operational efficiency and adhere to the demands of digital transformation, according to Azentio Managing Director Krish Narayanaswami. Chairman of the Board at KIB, Sheikh Salar Hakim, said the move towards digital transformation will improve competitiveness and simplify banking operations. KIB had previously used iMAL before signing for BML Istisharat’s ICBS core banking system in 2022.
Related Posts
Unveiling fintech’s future: Pulling back the 2024 curtain.
- Richard Skip
- January 17, 2024
- 0
Pulling back the curtain and unveiling the future of fintech in 2024 The article discusses four key trends that are expected to redefine the financial […]
SimplePin revolutionizes insurance payments with client, Axis. Innovate your digital.
- Richard Skip
- December 19, 2023
- 0
SimplePin, a cloud-based payments infrastructure provider for the insurance industry, has announced a new collaboration with Axis. SimplePin’s platform simplifies payment acceptance and enhances the […]
Aria, French FinTech gem, bags whopping €14m in Series A funding.
- Richard Skip
- December 13, 2023
- 0
Paris-based fintech Aria has secured €14m ($16m) in a Series A funding round. The funding will be used to expand the company’s deferred payment services, […]