Number One Islamic Core Banking System Vendor and 3rd Primarily Universal Banking System Vendor Worldwide
Path Solutions, the global leader in Sharia-compliant banking technologies is delighted to announce that it has once again won first overall position in the Islamic banking segment in IBS Sales League Table 2014, while it ranked 3rd among universal banking system providers worldwide.
The UK-based IBS Intelligence gives an independent perspective on global financial technology. The IBS Sales League Table is an annual ranking of core back office systems sales that comprises over 30 of the leading Islamic banking system suppliers in addition to other pure conventional players. It evaluates their strengths, weaknesses, various systems and verifies their user lists to form an unbiased picture of the merits of each supplier and its new name wins.
Path Solutions has been the First Best Selling Islamic Core Banking Software Provider and among the Top Five Best Selling Primarily Universal Banking System Providers Worldwide for the last 7 years in IBS Sales League Tables.
Martin Whybrow, IBS Director & Editor in Chief commented, “Path Solutions did well again in 2013 in terms of new name wins, as it had in 2012. Being the specialist in the Islamic banking segment, it bounced back quite well this year having signed deals in the African continent, where it has spread to new geographical regions”. And he continued, “Path Solutions is considered a benchmark to measure the performance of the global Islamic banking market, and it has had consistent performance in the last couple of years”.
Path Solutions has consistently been recognised for its significant contributions to the Islamic financial services industry. The company provides state-of-the-art and cost-effective Islamic banking software solutions capable of addressing regulatory and Sharia compliance requirements at both international and regional levels, driven by the breadth and depth of its 20-year domain knowledge and experience.
“Success in such a shaky economic environment demands an innovative vision, commitment, dedication and the efficient execution of ideas”, said Mohamed Kateeb, Path Solutions’ Group Chairman & CEO. “Path is uniquely positioned to help its clients address key industry challenges. This first-place ranking in the Islamic finance segment, and featuring among the top three international players in IBS Sales League Table 2014 reinforce our leadership position in the global financial services industry and validate the tangible value delivered to our clients worldwide”.