ICS Financial Systems and Arab Jordan Investment Bank complete blockchain PoC
ICS Financial Systems (ICSFS) has completed the implementation of a blockchain proof of concept (PoC) at Arab Jordan Investment Bank (AJIB).
The PoC was done via the ICS Banks Blockchain Adapter, and between the bank’s Amman head office in Jordan and its Cyprus branch in Limassol.
Chairman of Arab Jordan Investment Bank, Hani Al-Qadi says: “The success of this PoC is the beginning of a new journey for AJIB, and we are looking forward to be using this transformative technology.”
Blockchain Adapter is integrated with Oracle’s Autonomous Blockchain Service running on the Hyperledger Fabric platform, ICS Banks core banking system and ICS Banks digital banking platform.
AJIB was founded in 1978. It established its branch in Limassol in 1989; and founded the Arab Jordan Investment Bank (Qatar) in the Qatar Financial Centre.
The bank also provides investment and brokerage services at Amman Stock Exchange through its subsidiary The United Arab Jordan Company for Investment and Financial Brokerage.
The Jordan International Bank (JIB) is an affiliate of AJIB since 2010. It is based in London and provides banking and investment services for companies in or outside the UK.