Al Baraka Bank Syria has deployed Path Solutions' iMAL enterprise banking and investment system, to meet its growing volume requirements, reduce risk and increase its profitability through STP, automation and centralization.
Path Solutions said that its iMAL is a fully integrated software solution and will will give Al Baraka Bank Syria a whole new way of delivering new products.
iMAL is also expected to increase efficieny and transparency in banking operations at Al Baraka Bank Syria.
The implementation of iMAL covered retail banking including branch automation, corporate banking, commercial banking, ATM, credit and facility management, accounting & finance, and profit calculation.
Al Baraka Bank Syria IT director Anas Kharrat said Path Solutions’ user-friendly iMAL system will enable the firm to accelerate innovation, increase the effectiveness with which new Islamic products will be created.