ICSFS signs National Bank of Yemen for ICS Banks core system, goes live at BOND Savings and Loans
New contract in Yemen
ICS Financial Systems (ICSFS) has signed a core banking software deal with National Bank of Yemen, and has gone live at BOND Savings and Loans in Ghana.
National Bank of Yemen, a state-owned bank with 27 domestic branches, has embarked on a core banking system modernisation project with ICSFS. The bank is implementing the vendor’s ICS Banks flagship system.
Dr Ahmed Ali Ben Sanker, MD of National Bank of Yemen, comments that although the bank’s journey to find a new core processing solution has been long and full of challenges, the team is confident ICS Banks is the right choice. “We have set high hopes for ICSFS,” he adds.
The contract with ICSFS was first signed back in 2012, but the project did not proceed due to the political instability in Yemen and the subsequent civil war. The contract has now been re-signed and expanded to include new modules and hardware, Banking Technology understands.
The new solution will support conventional and Islamic banking operations at National Bank of Yemen, it is understood.
New go-live in Ghana
In Ghana, BOND Savings and Loans, a financial services company that plans to become a fully-fledged bank this year, has gone live with ICS Banks – a month ahead of schedule, according to a source on the ground.
The implementation took three months and includes the core, internet, SMS and mobile banking modules.
ICS Banks replaced a locally developed system, X.100.
It is understood Oracle FSS and Temenos competed with ICSFS for this deal.
