Malaysia-based First East Export Bank (FEE Bank), a part of Bank Mellat Group, and Path Solutions has announced that the newly established FEE Bank branch in Malaysia would implement iMAL Conventional and Islamic Banking Solution.
Under the agreement, Path Solutions will deliver an integrated banking solution encompassing front-end delivery channels, financing management, accounting, treasury and trade finance, including database and IT infrastructure. Path will also provide business consulting services to support the bank’s growing ambitions.
Ali Afzali, Chief Executive Officer of FEE Bank, said: “We have evaluated several leading technology solutions and finally chose iMAL Enterprise Banking Solution as it offers a comprehensive solution addressing our both conventional and Islamic banking needs and proved to be functionally superior at every stage of the evaluation. Leveraging iMAL, the bank plans to create a differentiated customer experience through innovative products to support our aggressive growth plans.”
Naji Moukadam, President of Path Solutions, said: “FEE Bank has impressive growth plans. These include increasing its profitability by diversifying its product offerings as well as expanding its presence in other countries too. This partnership highlights iMAL powerful capabilities in fostering innovation, increasing productivity and meeting the diverse customer needs.”
iMAL is the AAOIFI-certified core banking software from Path Solutions. Apart from its scalability and tremendous STP flexibility, iMAL provides the agility to respond to business needs.
