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Burgan Bank selects ICS BANKS to replace its existing banking system

Kuwait: Monday, May 14 - 2012 @ 14:14

Burgan Bank has been using its existing banking system SYMBOLS from System Access that was acquired in 2006 by SunGard , and decided to replace it after evaluating many international systems before choosing the universal banking solution, ICS BANKS.

The signing took place in Kuwait, at the Burgan Tower (headquarter offices of Burgan Bank). Attending the signing ceremony were the Group Chief Operation Officer of Burgan Bank; Mr. Adrian A. Gostuski, Chief Operations Officer; Mr. Venkatakrishnan Menon, and Executive Director for Business Development of ICSFS; Mr. Wael Malkawi.

In regards to this milestone, Mr. Adrian A. Gostuski of Burgan Bank, stated, “Choosing a comprehensive banking system that is in harmony with Burgan Banks’ regional and global expansion strategy was one of the most essential objectives for the past couple of years. Selecting ICS BANKS will play an important role in growing our footprint worldwide, as well as supporting our vision of becoming the region’s leading banking group through providing high standards of financial services in the banking industry.”

Executive Director of Business Development ICSFS; Mr. Wail Malkawi, stated, “The major reason behind Burgan Bank’s selection to the universal banking solution, ICS BANKS, is not restricted to the offerings of high levels of operational efficiency, but also to the ability of addressing ICS BANKS’ users requirements for various market segments. The Bank will be able to enhance and robust its business and provide comprehensive integrated and valuable financial services, to best serve their customers. As ICSFS aims to expand, penetrate and bolster its existence in the Kuwaiti Market; it will strengthen its position in this relatively steady Market. With this strategic partnership, the bank will offer integrated solutions that meet customer needs, covering unique financial services.”

Burgan Bank Group have recently won “Best Banking Group in MENA 2012″ award by Global Banking & Finance Review; along with many other international awards for various business lines that reflect the bank’s turnaround process that is delivering solid financial performance, superior returns and placing the group on the right growth trajectory.

It is worth mentioning that ICS BANKS provides a complete suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS has always been a pioneer in utilizing the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client, J2EE environment.

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Monday, May 14- 2012 @ 14:14 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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