HBTF, First bank in Palestine and the Middle East to Run Oracle’s Latest Technology on ICS Financial Systems’ Universal Banking Software

Ramallah, Palestine - 16 April 2012

HBTF Migrates ICS BANKS® Centralised Version on Oracle Latest Technology in a Record

The Housing Bank for Trade and Finance (HBTF) – Palestine to run Oracle’s latest technology; Oracle Database 11g and Oracle WebLogic Server 11g on its core banking software supplied by ICS Financial Systems Ltd. - ICSFS, the International leading provider of the banking and financial solution, ICS BANKS®.

The migration process started in November 2011, and was accomplished in a record time of one month. After the migration process from distributed to centralised architecture, and from 10g to latest 11g and Weblogic, the bank went through a major upgrade of its technology, which included complete centralisation of its operations. The bank became the first of its kind in Palestine and Middle East to roll out a centralised core system with Oracle’s latest technology.

HBTF, which deployed ICS BANKS® system in 1995, is enjoying now record processing levels.

Managing Director of ICSFS; Mr. Robert Hazboun expressed that the implementation of ICS BANKS®latest version will positively contribute to the bank's operational business and performance.

“HBTF is a long-standing client of ICSFS, and we are delighted to be part of the bank’s success for around seventeen years. As a result of the quick smooth and efficient process of running ICS BANKS® on Oracle’s latest technology, the bank will continue fulfilling its customers’ needs and providing best financial products and services supplied by ICSFS.”

Meanwhile, HBTF‘s Chief Information Officer said,

"Moving to ICS BANKS®centralised version on Oracle’s latest technology, HBTF has made an unprecedented achievement. We are proud to be the first bank in Palestine and Middle East to use this technology. This migration will deepen our customer relationships, keep us in pace with market trends, while reducing costs and enhancing revenue. We believe that ICSFS’ vast industry knowledge and expertise in the banking and financial sectors will offer us the opportunity to showcase our capabilities, products and services that suit our clients' needs."

ICS BANKS® was also recognized as the first banking application to implement Oracle’s latest technology, Oracle Database 11g and Oracle WebLogic Server 11g, in Africa and the Middle East, and even among the first in the world.

ICS BANKS® provides a complete suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS® has always been a pioneer in utilizing the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client, J2EE environment.

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