Al Etihad Leasing Company completes tech project with ICSFS
Al Etihad Leasing Company, a new venture launched by Jordan-based Bank Al Etihad (formerly Union Bank), has completed its technology set-up.
The leasing start-up has implemented ICS Banks Finance Lease System from regional vendor ICS Financial Systems (ICSFS).
It supports Al Etihad’s operations front-to-back office.
The vendor says that Al Etihad evaluated a range of leasing solutions from various suppliers, but decided to adopt a “bespoke developed application” from a company with “a successful track record” in the leasing space.
According to Raed Ali, GM of Al Etihad Leasing Company, the roll-out was completed “in a record-breaking time of 45 working days” and the process was “transparent”.
ICSFS already has a relationship with the Al Etihad group – its ICS Banks core banking system is used by the bank’s subsidiary in Palestine. In its home market, Bank Al Etihad uses Oracle FSS’s Flexcube, Banking Technology understands.