ICS Financial Systems Ltd. (ICSFS), formerly International Computer Systems (ICS) -ICS BANKS core banking system for targeted market segments: Universal, Retail, Islamic, Private, Corporate, Commercial, Wholesale banking
Overview:
ICS GROUP -
In 1978, International Computer Systems (London) Ltd. - ICS (London) (www.icslondon.com) was established in London as a system integrator and turn-key solutions provider by pioneers of the technology industry. Since then, the company was engaged in many vertical markets such as Financial Institutions, Healthcare, Education, Oil & Gas and Police & Security Solutions. Furthermore, the company targeted international markets, providing IT services to a wide range of countries and regions. In 1991, ICS (London) explored changing its business model to become an independent software vendor (ISV). The vision was to develop standard off the shelf software applications for real-time business processing. Capitalizing on previous expertise, ICS (London) launched a strategic project for developing a Universal Banking software application, and created ICS BANKS. Over more than a decade, ICS (London) was able to penetrate new markets, win new clients and strengthen its position among the major players in the financial technology industry.
In 2004, ICS Financial Systems Ltd. - (ICSFS) (www.icsfs.com) emerged from ICS (London) as a provider of Universal Banking software systems focused on the financial industry upon the rapid growth, demand, and maturity of the ICS BANKS software. ICSFS is dedicated to software development and integration for the banking industry, from retail banking solutions to global financial institutions. The company addresses the complete IT projects’ cycle from initial consultancy to design, development, training, implementation and ongoing maintenance and support.
Another part of the ICS Group is Computer and Communications Systems Ltd. - (CCS) (www.ccs.com.jo) that was founded in 1982. CCS is one of the Middle East’s leading IT companies and one of the mature IT companies in Jordan. It provides assistance in every aspect of the IT project, consultancy and skills transfer cycle in many areas, Infrastructure, Communication and System Software for the group.
The ICS group has undertaken many high profile and demanding projects, from country-wide police automation to the full computerization of financial organizations of all sizes. Customers range from government bodies to international contractors, from manufacturing to the service industry, and from small business to multinational groups.
The ICS Group has offices in countries such as:
United Kingdom,
United Arab Emirates,
Jordan,
Palestine,
Saudi Arabia,
Iraq
About ICSFS -
ICSFS, founded in 2004, provides business and technology solutions for financial institutions in countries across the world, helping financial clients select and implement the best tools to achieve their business needs, and to integrate services and e-commerce features fully into their operations – crucial given the speed and flexibility of response required by the Internet and mobile enabled e-commerce business models.
ICSFS deploys a range of professional services to automate and streamline banking services. Its open system, based on the latest technology, addresses banking business requirements in one integrated software that maintains all data in one database, giving customers’ 360° exposure.
ICSFS’ success is largely attributed to its understanding of its markets, by working closely with its customers, advising them to adopt the international banking standards, while addressing their local requirements. Its strengths are our professionalism, flexibility and quality technical skills. The development approach ensures a rich spectrum of features in our software reflecting customers’ actual workflow. ICSFS solutions are highly parameterized so clients can quickly put to use features they need with minimal time, effort and cost. ICSFS works in ISO-9001-2008 certified environments, relying on industry standards. Its software is designed to meet the information processing and management challenges facing the banking and finance industry today.
Product: 
ICS BANKS solutions for Core Banking,
Islamic Banking, Remittances,
Credit Facilities & Risk Management,
Promissory Notes, Retail Lending, Corporate Lending, Trade Finance, Finance Leases, Asset Management,
Investment including E-Brokerage, Management Information System,
Workflow Management, Profitability Management, Treasury, E-Channels including SMS & IVR, Customer Relationship Management
ICS BANKS software provides total financial data management of their client's customer information. It handles all financial activity for banking and financial services institutions and their customers - either at a customer account level, or at the General Ledger account level. BANKS structure is flexible - the client bank selects its base and foreign currencies, chart of accounts, various period ends and processing parameters.
Core Banking functions applied:
Home Bank Maintenance: This is the highest level of parameterization, by which the bank defines parameters which sets the outline of its policies, such as defining base and local currencies, period ends and processing parameters.
Product Maintenance: This is what other people call chart of accounts; by this the bank defines any new product with all its parameters and accounting controls.
Currency Maintenance: This allows the bank to define its own currency codes and other currency related parameters (i.e. week-ends, weekend days, minor currency units, etc.)
Branch Maintenance: This maintains data for Bank branches - descriptions, type and details of branches’ data communication.
Charges: This provides facilities to set charges for various bank services, so the system can calculate service costs and debit customer accounts and can be defines on two levels; Bank level and Account level
Function Authority/User Roll: All application functions have a departmental and maximum/minimum authority level that can be set by the user bank.
General Ledger
Account Management: The following list includes a few of the accounts that can be created using various in-built accounts parameters - Current Accounts, Saving Accounts, Time Deposit Accounts,
Call Accounts,
Overdraft Accounts.
Interest calculation: The system has the ability to adjust the interest. Backdated transactions or retroactive change in interest rate or calculation parameters could require this. The process is capable of using tiered interest rates either incrementally or totally. System supports floating interest rate and other methods.
Transaction Processing: Transactions update the Account and Contra balances in real time, always utilizing verification features (including requests for automatic manager approval for exceptional transactions).
Inter-branch Banking
Clearing
Postdated Cheques
Standing Instructions / Standing Orders
Enquiries: Numerous enquiry features are embedded in the system - for retrieving customer information quickly or for operation monitoring and control.
Customer Enquiries: A wide range of pre-specified enquiries exist at customer and account level.
Control Enquiries: Extensive enquiries providing information for monitoring and controlling operational activities at branch and bank level
Customer Deposits
Cash Management
Transaction Processing for Optional modules
System Security and Control
Reports: The core system provides all the standard reports. More than five hundred regular reports exist in the system. In addition the user can easily specify his requirements either to be implemented as a regular feature of BANKS or for itself. Most of the reports are scheduled. These also can be requested any time during the operation of the system. Each optional subsystem has its own set of reports.
The ICS BANKS integrated banking solution is a complete, integrated, modular solution. It includes full delivery channels support and handles Retail, Corporate, Investment and Commercial banking activities with Work Flow Management, in addition to Corporate MIS, CRM, Risk Management, Basel II and Islamic Banking solutions. The system is built on Oracle 11g technologies in a Thin Client Browser-Based environment and available on many environments, including Red Hat Linux. ICS solutions helps clients face the challenges of 21st century banking such as the changing expectations of customers, the huge range of different services and financial products that can be offered, and the intensity of new competition. ICS provide Banking clients with flexible ‘best-of-breed’ technology and quality support, that is made possible by their dedicated team of programmers and banking & finance business experts. Their team has successfully delivered turnkey solutions to clients of all sizes based on over three decades of experience.
The scalability of ICS BANKS software addresses the full range of banking business needs from those of small banks through to multi-national banking businesses. The software works to implement each client's strategies and to assist their growth. ICSFS provide a multi-lingual solution with various processing periods, chart of accounts and currency codes. Flexibility is provided by the rich features that allow a client to choose only to implement the central module or core in order to fully automate and run daily Banking operations. In addition, the ease of integrating the many other optional subsystems to this core means clients can choose to quickly access a range of subsystems that provide extended functionality (providing for general maintenance of non-financial data related to specialized business activities - such as Internet or Mobile Banking, etc.). Options can be implemented at each client's complete discretion and convenience.
Platform: Unix, Windows NT/2000, Linux, AIX, Open C language code, Open Java development environment , Oracle 10g, Oracle 11g.
Clients:
7.20011 primarily universal banking | ICS BANKS | Total Customers reported: 68
(IBS 2008 primarily universal banking | BANKS | Total Customers: 45 / New Signings in Yr: 6)
(IBS 2007 primarily universal banking | BANKS | Total Customers: 39 / New Signings in Yr: 10)
(IBS universal 2006 / BANKS - Total Customers 38 / Live Sites 40)
Clients include:
Ahli Financial Leasing Company, Jordan
Arab Jordan Investment Bank - Cyprus, Doha, Jordan
Bank of Baghdad, Lebanon
Comprehensive Leasing Company, Jordan
Guaranty Trust Bank, Liberia, UK
Jordan Dubai Islamic Bank, Jordan
Jordan Trade Facilities Company, Jordan
Libyan Financing Leasing Co, Libya
Palestine Investment Bank, Palestine
Sofibanque, Democratic Republic of Congo
Suntrust Savings & Loans, Nigeria
United Bank of Iraq for Investment, Iraq
United Gulf Bank - Bahrain
Vakifbank, Iraq
Warka Bank for Investment and Finance, Lebanon
Warka Investment Bank, Dijibouti
Yemen Kuwait Bank for Trade & Investment, Yemen
Contact:
UK Head Office
The Courtyard, 14a Sydenham Road
Croydon, Surrey, CR0 2EE, UK
Tel +44 (0) 20 8681 5421
Fax +44 (0) 20 8688 1673
Jordan Branch
P.O. Box 950499 Amman 11195 - Jordan
Tel +962 6 5344088
Fax +962 6 5346494
Website URL: www.icsfs.com
