Path Solutions was announced ‘Best Islamic Technology Provider’ at The Asset Triple A Islamic Finance Awards 2020, after demonstrating remarkable contribution to the digital Islamic banking and finance space across the globe.
The Asset Triple A Islamic Finance Awards are the industry’s most prestigious awards in what has become one of the fastest growing and most promising niches of global finance.
The awards recognize the firms that have demonstrated resilience in the face of unexpectedly low growth last year caused by low oil prices, political instability, and COVID-19 pandemic.
They have achieved this by capitalising on new opportunities such as the digitalisation of the Islamic banking sector through AI-powered branchless banking and blockchain initiatives.
Sharia-compliant financial assets are forecasted to reach $3.8trn by 2023, up from $200bn in 2003. As the industry matures, The Asset Triple A Islamic Finance Awards represent an opportunity to shine a light on the companies or individuals that are pushing their boundaries and are setting the agenda on the international stage.
During the evaluation process, Path Solutions was commended by The Asset judging committee for its industry-leading digital Islamic core banking platform iMAL which helps full-fledged as well as conventional banks with Islamic windows drive truly digital transformation to achieve frictionless customer experiences, insights-driven interactions and full process automation.
Commenting on the award, Mohammed Kateeb, the Group Chairman & CEO of Path Solutions said, “We are delighted to receive once again the ‘Best Islamic Technology Provider’ award from The Asset in recognition of our historical and continuous investment in Islamic financial technologies.
“For over 28 years, we have been a key player in the Islamic finance community providing world-class Sharia-compliant software solutions that have been specifically designed around the customer journey across all business lines.
“During these unprecedented times, we continue to work relentlessly with our clients in their digital transformation journeys by empowering them with more of our innovative flagship ecosystem. This win reflects our commitment to helping Islamic banks compete, stay relevant in today’s challenging and dynamic marketplace”.
Path Solutions’ iMAL has been architected out of years of experience and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable Sharia-compliant platforms available in the market.
Due to COVID-19, this year’s Awards Luncheon is going virtual. The Awards premiere will be broadcasted at 5.00 PM (HKT) on 23 September 2020 on The Asset website
