Marking a significant turning point in ITS Group’s foray into the Saudi Arabian market, Alawwal Capital is the latest client to come onboard with ITS. The solutions to be employed as part of the agreement include ETHIX-Portfolio, ETHIX-Fund, ETHIX-GL, and ETHIX-Connect.In
a rapid paced environment, Alawwal Capital recognizes the value of the wide
breadth of offering and business and technological capabilities offered by
ETHIX total solution in general and ETHIX Investment in particular to support
the end to end management of their banking transactions and their investment
business activities. ETHIX is a comprehensive, flexible and integrated
solution, which helps achieve operational excellence and facilitates reaching
out to existing and potential customers and meet their diverse needs. The deal
boosts ITS’ position in the Saudi market as a leading banking solutions
provider and being the best choice for investment institutions.
On his part, Chief Executive Officer and Managing Director of Alawwal Capital Mr.
Adnan Tlmisani expressed, "In a rapidly changing environment, it is
necessary to reach our customers and provide them with the best services,"
pointing out that the solutions offered by ITS represent comprehensive,
integrated and flexible solutions, which will help them to achieve operational
excellence, and streamline the bank’s operations, meeting their diverse needs
to provide better services to customers in the Saudi and Gulf market.
He further stated, "Alawwal Capital has a proven track record of significant
achievements and successful delivery of a large number of local
projects a cross of multitude of sectors that includes, but not limited
to real estate, industrial, educational, investment, Takaful insurance, and the
commercial sector. Since ETHIX solutions have been designed within the
provisions of Islamic law to support financial institutions and investments, we
can achieve operational excellence, accommodate growth, and enjoy a reduction
in costs and expenses.”
“ITS is proud to be associated with Alawwal Capital. This new deal is a
testament to the quality of our Sharia’a compliant investment solutions and
services, which are a key part of the growth strategy of the leading investment
institutions and banks in the Gulf region. This feat would not have been
possible without the strong efforts of the sales and development team,” added
Mr. Khaled Faraj Al Saeed, Managing Director and General Manager of ITS Group.
Alawwal Capital was established as one of the first financial companies in
Saudi Arabia, through a license issued by the Capital Market Authority (CMA) in
2006. Alawwal is committed to all legitimate controls that are compatible with
the provisions of Islamic Shariaa, and all its operations are subject to
supervision by a panel of Islamic specialists and consultants, who are renowned
for their knowledge of Islamic Economics.
COVID-19 has seen the banking and financial services industry witness unprecedented challenges and transformation as banks and financial institutions implement rapid adaptation measures and place a stronger focus on digital presence as more customers go online to conduct their banking and financial services during the pandemic. The pandemic has accelerated the digital transformation that was happening in the retail banking and financial sectors pre-COVID-19. Banks and financial institutions are fast leveraging disruptive technologies, not just to deliver exceptional banking and financial experiences but also to operate more effectively and efficiently.
Smarter Banking ApplicationsYour online bank account should suit today’s connected lifestyle, and that means a strong mobile app with a wide range of features for on the go banking. In addition to basic features such as viewing account balance and conducting online bill payments, your mobile banking app should allow mobile check deposits, by simply snapping a photo of the check with your phone– yes this has become mainstream now – as well as a host of other great new features, that can really take your online banking experience to a whole new level. Here are a few to look out for when choosing your new online bank:Voice-Activated Virtual AssistantsSome banks are now using artificial intelligence for virtual customer service 24 / 7. Instead of customers having to call a customer service center, these virtual assistants provide immediate help for various banking tasks whenever customers need it, night or day. Although chatbot functionality is limited, it’s great for quick answers to routine inquiries or limited interactions and banks are continuing to develop more sophisticated AI-powered options for enhancing customer service and helping customers manage their accounts.
ITS: Strategic Partner for Digital TransformationITS flagship solution, ETHIX, remains an integral part of KFH's strategic plans to gain a higher market share and provide better services to their customers. The Bank has leveraged ITS technological solutions to support their digitalization journey since 2009 and continues to upgrade its IT infrastructure in line with a digital strategy that focuses on digital transformation process and technology-based growth.
We are finding solutions to tomorrow’s challenges because the NEXT GENERATION OF PAYMENT TECHNOLOGYis here, and it is now!