International Turnkey Systems - ITS, a leading integrated information technology solutions and software services provider, offers world class quality IT solutions and services that enable large, as well as small to medium organisations to keep up to date with the fast evolving competitive business environment. As technology pioneers with 34 years of experience in the
ITS has developed a mix of products and solutions that meet Islamic banking needs, and are in full compliance with Shari'ah requirements.
How has ITS progressed its Islamic offerings over the last 12 months?
Over the last one and a half years we have been changing our strategy. We realised that some of the solution providers do not provide full coverage for Islamic banks. Most of the banks have a technology solution but a big amount of their work still needs to be done manually, or it consumes a lot of resources. Effective and efficient operations are crucial for banks, banks are looking at reducing operational risk, new positioning and better operating margins. ITS adopted a strategy that meets banks, demands, We offer a modular-based solution that solves operational pains, provides accurate results while maintaining low TCO. ETHIX financial solutions capitalise on the current banks' IT investment and infrastructure.
For them, we reduce the cost of ownership by offering a full solution for a specific area of Islamic banking. For example,
We have been repeating the same model with many other banks. We have the same deal with
How do an Islamic bank's IT needs differ from a conventional bank's?
There are large areas they have in common when it comes to the technology side, as well as reporting to the
Many solution providers offer Islamic banking, but deal with specific client requirements. They are offering Islamic banking solutions to Bank A, and they amend the solution to accommodate banking requirements, operational mandates and Shari'ah board requirements. They offer an amended solution for Bank B - or they convince Bank B to make some of the work manual.
What we do in ITS, because we are focussing on the Islamic banking side, is provide the bank with a range of tools which helps a bank refine its own solution, so the bank doesn't need to go back to ITS to define new products or services. That is the main difference that enables us to get our additional Islamic components to run alongside any other solution provider, which helps the bank take control of its own technology.
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