Path Solutions and Thomson Reuters extends GCC systems partnership
Thomson Reuters and Path Solution have signed an agreement that extends their partnership in the Gulf Cooperation Council (GCC) region.
The two firms provide a combined offering of Path’s iMAL core banking system and Thomson Reuters’ Onesource tax solution.
The partnership, which the two companies call unique in the GCC market, offers banks and financial institutions the tools to provide “innovative and frictionless financial services” and achieve “seamless VAT management and compliance”.
“This powerful technology partnership supports ongoing digital transformation across core banking and indirect tax operations,” says Ramy Rayan, senior solution consultant at Thomson Reuters.
Rayan says that by leveraging Path Solutions’ Sharia-compliant core banking platform iMAL and Thomson Reuters’ Onesource, banks and financial institutions “have a future-proof solution that is both system agnostic and easy to scale up as required.”
He adds that organisations will be “well-positioned” to navigate the “fast-changing” financial and tax landscape unique to the GCC region.
Path Solutions has been on a signing spree in Africa in recent months, adding Sudanese lenders Africa and Gulf Bank, Al Khaleej Bank, and Ziraat Participation Bank to its books in the first few months of the year.