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ICSFS Wins Oracle ISV Partner of the Year

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ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, and a Gold level member of the OraclePartnerNetwork (OPN), has received ISV Partner of the Year at Oracle Partner Executive Forum – Levant & Egypt.

Oracle Partner Executive Forum – Levant & Egypt was held in Jordan at W Hotel Amman, on December 18, 2019. The forum is an annual exclusive invitation-only event, it highlighted the “Power of Together,” where it focused on innovation and alignment of strategy with Oracle’s partners to drive forces and network among the industry’s best. Oracle partners were recognized for their exceptional contributions and successes in an ever-so-exciting state-of-the-art environment.

ICSFS was recognised by Oracle for: Bringing Oracle’s latest innovations to the financial services industry.

–   One of the first ISV partners to certify and list its banking solutions on Oracle Cloud Marketplace for production use to its clients.

–  One of the first Oracle ISV partners in the region onboarded onto Oracle Fintech & Open Banking API MarketPlace.

– One of the first to implement applications on Oracle Blockchain Platform  in production and closed two deals in 2019.

– Achieving record-breaking and unmatched results of its ICS BANKS software suites high-water mark performance benchmark on Oracle Exadata Cloud at Customer.

– Consistent commitment and innovation by adopting Oracle Cloud’s strategy.

– An early adopter of Oracle Autonomous Transaction Processing (ATP), Oracle Data Safe, Oracle JET, Visual Builder and Oracle 19c to assist banks with their digital transformation journey.

Robert Hazboun, ICSFS Managing Director, said: “ICSFS outrivals its peers by high-performance records and innovative technologies offered to its customers. We are honoured to be rocognised by Oracle as their ISV Partner of the year. This embarks another testament to our dedication and commitment to embracing business agility as a primary core driver in our products and services provided to our customers.”

ICSFS has demonstrated an outstanding level of innovation in delivering proven, Oracle-based Financial solutions that solve our joint customers’ most critical business challenges,” said Javier Torres, vice president, Alliances & Channels and ISV, EMEA and APAC, Oracle. “We congratulate ICSFS in achieving the ISV Partner of the Year Award at the Oracle Partner Executive Forum. This achievement is a testament to their dedication to excellence and to providing customers with Oracle Financial Solutions that drive real business value and results.”

ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide.

ICS BANKS software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers’ journey experience, hence improving the trust and confidentiality between the customer and the bank.

ICS BANKS banking and financial solutions have always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the software can be deployed on-premises or in the cloud.


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FBNQuest Asset Management Wins Asset Management Award at BusinessDay Banks & Other Financial Institutions Awards

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FBNQuest Asset Management, an investment management firm in Nigeria and a subsidiary of FBN Holdings Plc., is proud to announce that it has been honoured with the prestigious Excellence in Asset Management Award at the recent BusinessDay Banks and Other Financial Institutions Awards.

This recognition highlights FBNQuest Asset Management’s unwavering commitment to delivering exceptional investment solutions and fostering financial growth for its clients.

The award ceremony, celebrated the outstanding achievements of financial institutions across Nigeria, highlighting those that have demonstrated innovation, excellence, and unwavering commitment to quality service.

“We are immensely proud to receive this award, which reflects our dedication to excellence and our focus on creating value for our clients,” stated Ike Onyia, Managing Director, FBNQuest Asset Management. “This achievement is a testament to the hard work and expertise of our team, as well as the trust our clients place in us. We will continue to strive for excellence in all that we do.”

FBNQuest Asset Management offers a range of investment solutions, including mutual funds, discretionary portfolio management, and alternative investments, tailored to meet the diverse needs of its clients.

The firm remains committed to maintaining the highest standards of integrity and professionalism in the asset management industry.

The BusinessDay Banks and Other Financial Institutions Awards are recognized as one of the most prestigious accolades in the financial sector, honouring organisations that excel in performance, innovation, and customer service.

 


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FG Launches Amnesty to Allow Deposits of Forex outside Banking System

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Federal government has unveiled a new policy for Nigerians to deposit dollar bills held outside the formal banking system without scrutiny.

FG Launches Amnesty to Allow Deposits of Forex outside Banking System

Nigerians have nine-month deadline to do this according to Wale Edun, minister of Finance and coordinating minister of the Economy.

Edun who spoke after the Thursday’s National Economic Council (NEC) meeting in Abuja, said that “there will be no penalty; there will be no taxes, and there will be no questions.”

“There is going to be a release today, details by the federal government through the Ministry of Finance, in conjunction with the Central Bank, a programme, starting today, 31st of October, and lasting nine months, that will allow people to bring in cash that is outside the banking system.

“So therefore it is unsafe, it is unsecure and it is outside of legal limits. They will allowed forbearance to bring dollars cash. Let me emphasize once again, it is to bring dollars that they are holding outside the system to be able to bring them in and credit it to their bank accounts, as long as it is not proceeds of crime, illicit money.

“They just meet the normal ‘Know Your Customer’ criteria of banks and they have an opportunity to bring in those funds, make them safe, make them secure, and make them available through normal, economic activity.”

The minister also stated that 25 million Nigerians have benefitted from federal social protection initiatives, including digital outreach, microenterprise loans, and sector-specific support for power, agriculture, manufacturing, health, and compressed natural gas initiatives.

 

 

 

 

 

 

 


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NAICOM Sacks African Alliance Insurance Board

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The National Insurance Commission, (NAICOM), on Wednesday, sacked the board of African Alliance Insurance Plc with effect from October 30, 2024.

The Commissioner for Insurance, Mr. Segun Omosehin, disclosed this during a press conference in its Lagos office, that an interim board and management have be appointed.

The new interim board are: Dr Haruna Mustafar, a former director at Central Bank of Nigeria; Anthony Achebe – Non-Executive and Haj. Halimatu M. Khabeeb – Non-Executive Director.

The management team is led by former Managing Director of International Energy Insurance and Cornerstone Insurance Plc, Jacob Erabor, as Managing Director/ CEO; Wasiu Amao – Executive Director, Technical and Ms. Oremeyi Longe – Executive Director, Finance.

He noted that the interim management has up to one year to turn around the company.

He said the decision follows an extensive monitoring and review of the company’s financial condition, governance, and operational practices, which revealed significant concerns regarding its ability to continue operating in a safe and sound manner which has for some time now generated a lot of uncertainty over claims settlement and payment to annuitants under the company.

The Interim Management Board, according to him will oversee the company’s operations, ensure compliance with regulatory requirements, and implement necessary reforms.

While noting that the Commission will work closely with all stakeholders, including annuitants, policyholders, employees, and investors, to minimise disruption and ensure continuity.

”The objective of this takeover is to protect the interests of African Alliance Insurance Plc’s annuitants, policyholders, other stakeholders, and the broader insurance industry while ensuring the company’s return to stability and compliance.

“The Commission is committed to maintaining the stability and integrity of the Nigerian insurance industry. Our actions today demonstrate our resolve to address concerns and protect the annuitants, policyholders and public interest.”

 


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