Yemen Kuwait Bank for Trade & Investment Goes Live on ICS BANKS®
Yemen Kuwait Bank for Trade & Investment (YKB), the first bank to be established by the private sector in Yemen, has successfully implemented ICS BANKS® the universal banking solution from ICS Financial Systems Limited (ICSFS).
The project started on 1st April, 2012 and went live on 9th July 2012. The implementation process went smoothly despite the country risk and security problems in Yemen at that time.
YKB has selected ICS BANKS® last year after a long selection process. The bank went live smoothly with the most universal banking services as a big bang approach.
General Manager of ICSFS; Mr. Robert Hazboun, stated:
“ICS BANKS® will enable rapid delivery of a consistent set of comprehensive products and services that will help the bank to transform operational procedures to meet current and future financial industry standards. Running our system will dramatically cut maintenance cost, provide a real time view of all financial transactions, offer advanced reporting and efficient straight-through processing.”
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-
About Yemen Kuwait Bank for Trade & Investment: was established in Sana’a in accordance to presidential council No (58) dated 8th March, 1978.The bank started its banking operations in 1979.YKB is considered the first bank to be established by the private sector in Yemen. YKB is considered exceptional due to the regular net profit it generates annually and also because it fulfils the capital adequacy standard set by Central Bank of Yemen.
About ICS Financial Systems Ltd. - (ICSFS): sister company of International Computer Systems (London) Ltd – (ICS-London)