Loan Financing Company turns to ICSFS for core banking tech
Loan Financing Company (LFC), a microfinance start-up in Saudi Arabia, has received a preliminary approval from the country’s regulator, SAMA, and selected core banking software from regional provider ICS Financial Systems (ICSFS).
LFC will implement the vendor’s ICS Banks Digital Platform.
Once launched, LFC will provide consumer lending solutions, compliant with the Islamic principles, via a cloud-based mobile app.
“ICSFS is committed to delivering a complete digital banking automation platform to LFC,” says Wael Malkawi, executive director at ICSFS.
“We will be providing our utmost efforts to see LFC as a pioneer in the Saudi market.”