Path Solutions top IBS Islamic Sales League Table 2020

Recognized 4th Universal Banking System Provider Worldwide for fifth time

  

Path Solutions, a global banking software provider, was announced by IBS Intelligence as the leader in the Islamic financial services sector in IBS Islamic Sales League Table (SLT) 2020. 

For the eighth year in a row, Path Solutions was recognized the undisputed leader in Islamic Banking with more new Islamic deals signed in 2019 than any of its industry peers. The company is part of the iconic IBSI Leadership Club 2020 for back office systems, topping the Islamic Banking category since 2017.

Separately, Path Solutions was recognized as the World’s 4th Universal Banking System Provider for the fifth consecutive year in IBS Global SLT. The dual recognition demonstrates Path Solutions’ cementing leadership position across the breadth of the financial services space.

In IBS SLT 2020, Path Solutions featured in four other categories; the Compliance, Digital Banking & Channels, Risk Management, and the Lending category, making it one of the preferred software vendors in these segments, expanding its solution footprint globally. 

The annual IBS SLT is the global barometer for sales performance of Universal Banking, Islamic Banking, Wholesale Banking, Retail Banking, Private Banking, Lending, Digital Banking, CRM, Payments, Compliance & Risk Management, Investment & Fund Management-related technology market.

Mohammed Kateeb, Group Chairman & CEO of Path Solutions, commented, “These recognitions attest to our continued vigorous commitment and rigorous execution, seeing the pace and scale in the adoption of our flagship iMAL platform. It makes us incredibly proud to be serving our valued clients with a comprehensive open banking platform, innovative and state-of-the-art digital solutions complemented by deep intelligence built into all major business segments”.

Kateeb added, “Being recognized as the leader in Islamic SLT for the eighth year running demonstrates our company’s overall ability to meet the continuously emerging complex client requirements, emphasizing the breadth and depth of our suite of solutions, as well as our ability to accelerate time to market for products and services. As our clients look at rethinking the playbook, we will continue to make industry leading R&D in intelligence and digital, to help them embrace the opportunities created by Industry 4.0 technologies and be more efficient and competitive”.

IBS ISLT spokesperson stated, “Islamic financing in recent years has seen tremendous growth spurred by more awareness, strong investments, digitalization and increasing financial inclusion in predominantly Islamic countries in the Middle East and Africa. This year’s ISLT saw close competition between top players, where Path Solutions emerged as the winner for its iMAL platform. Many congratulations once again for being at the leadership position in the Islamic Banking category”.

Path Solutions is a market-leading provider of AAOIFI-certified core banking platforms with world-class development, implementation, consulting, support, training, and outsourcing services. Its new age initiatives - Digital & Social Banking, Mobility, Business Analytics, Risk Management & Compliance solutions cater to the evolving need for speed, reach and predictability.

Path Solutions heavily focuses on innovation with significant investment in R&D. Innovation is a core value to which Path Solutions is relentlessly committed to drive digital transformations and proposes to today’s financial institutions ground-breaking solutions empowering them to efficiently deliver the capabilities customers expect.

The company’s global R&D centers are located in Kuwait, Lebanon, Egypt, India and Pakistan, in addition to near-shore support offices spread across the UK, Malaysia, KSA, UAE, Morocco and Bahrain, and a global business partner network stretching over four continents.

-Ends-

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases