Path Solutions Wins REDmoney Award for 6th Straight Year

Path Solutions has now scooped the prestigious ‘Best Islamic Technology Provider’ accolade for the sixth year in a row  fending off growing competition to retain top spot.

Widely recognized as the goliath in the Islamic finance space, Path Solutions took home the top award, with runners up Oracle FSS and International Turnkey Systems to take second and third place respectively, while the same category saw an exceptional number of nominees, making it one of the most hotly contested ever.

Additional rivals who competed valiantly against Path Solutions include Misys Banking Systems, Temenos, 3i Infotech, Sunguard, Advent Software, SAB, Silverlake Axis and Infosys Technologies.

Following an intensive voting process on a list of 10 contested categories throughout the month of October, the results were finally announced for the Islamic Finance news Best Service Providers Poll 2013.

With 4,234 votes of which 1,377 were discounted due to irregularities, the final 2,857 votes were spread across one of the widest nominee ranges in the history of the poll; with a clear trend this year of multiple new entrants in a sector that has stormed ahead in terms of market development and focus.

“We’ve had a memorable year in terms of awards in 2013, and we’re honored to add a new one to the list”, commented Mohammed Kateeb, group chairman & CEO of Path Solutions.

“Our team does a fantastic job of both anticipating and developing Sharia-compliant Core banking technologies with peripheral systems that meet the changing needs of today’s business and regulatory requirements, and it is this know-how that allows us to perform at such a high standard”.

He further added, “I’d like to thank all our partners and IFN readers who voted for us and for recognizing our hard work and our drive to continue innovating! Thank you for making our 20 years of dedication and commitment to Islamic finance a continuous success story”.

The Islamic Finance news Awards represent the pinnacle of industry achievement and a true reflection of the global Islamic finance sector. In a closely fought battle, Path Solutions earned the ‘Best Islamic Technology Provider’ award in the 2013 IFN Best Service Providers Poll for the sixth year running.

Key practitioners in the Islamic finance industry will gather for this prestigious ceremony, set to take place like every year in the Islamic financial hubs of Dubai and Kuala Lumpur.