Analyst Accolades

Few, if any, financial software companies can claim leadership positioning in the Islamic finance segment.
Read excerpts highlighting our technological knowledge and expertise as stated by recognized industry and market analyst firms.

IBS Intelligence

Path Solutions participated in IBS Islamic Banking Sales League Table 2019 report for new name deals signed between 1st January 2018 and 31st December 2018. In this report, Path Solutions retained its top position as Number One Best Selling Islamic Banking Software Provider Worldwide for the seventh consecutive year, ten times in total.

On another note, IBS has ranked the leading software firm as the World’s 4th Best Selling Primary Universal Banking System Provider in 2019. Path Solutions beat major international IT vendors from around the world and solidified its position among global winners at the top of the pile:

These two accolades cement the company’s leadership in the financial software business and confirm the strength of its pioneering solution portfolio.

Islamic SLT 2019

ProductSupplierNew-name customers signed in 2018 (previous Years in brackets, with most recent first)
iMAL Path Solutions8(13,9,4,4,10,11,3,4,13,11)
Temenos T24 TransactTemenos5(7,7,3,4,10,3,4,7)
Fusion EssenceFinastra2
EthixInternational Turnkey Systems (ITS)2
CalypsoCalypso Technology2(0,1,1,0,0,1,0,0)
Sopra Banking AmplitudeSopra Banking Software2(1)
CapitalBankerCapital Banking Solutions0(1)
ADAMSAutosoft Dynamics0(1)
IMSplusProfile Software0(1)
Intellect OneTREASURYIntellect Design Arena ( IDA)0(1)
Pennant Lending FactoryPennant Technologies0(1)
Ambit QuantumFIS0(0,0,1,0,0,0,0,0)
FusionBanking Lending / Fusion LoanIQFinastra0(0,1)
Fusion Trade InnovationFinastra0(0,1)
Fusion MarketsFinastra0(0,0,1,0,0,1,0,0)
ICBSBML Istisharat0(0,1,0,0,2,0,1,1)
Moneyware Wealth ManagementEbixCash Financial Technology0(0,0,2)
TrustBankCBS/ MicrosoftTrust Systems & Software0(0,0,1,0,0,0,0,0)
OMNIEnterprise Core BankingInfrasoft Technologies 0(0,1)
FlexcubeOracle FSS0*(0*,0*,4,0,1,2,1,2)


Path Solutions has been listed by Vittorio D’Orazio, Research Director at Gartner, as a Representative Vendor in Gartner’s July 2016 Market Guide for Islamic Core Banking Systems providing an in-depth, insightful market analysis to bankers worldwide.

Banks aiming for growth in the Islamic banking sector need dedicated Islamic core banking systems with Sharia-compliant capabilities. Vendor offerings have now matured to the point that they offer true differentiation via adaptation to the Sharia board, business functions and Islamic localization. In this guide, Gartner has profiled 19 Islamic banking systems providers. If you have access to, the direct link to the research document is:

(Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose).


Path Solutions has participated in Forrester’s Vendor Landscape: Islamic Banking Platforms by Jost Hoppermann, Vice President – Principal Analyst, Banking Applications & Architecture. The report published on 8 July 2016, looks at 14 Islamic banking platform vendors and their off-the-shelf solutions and highlights key differences and similarities between them, to help application development and delivery teams identify suitable Islamic banking platforms. This report is now live on the Forrester website.


Path Solutions has been profiled in Celent’s Big Leagues Table 2012: Global Core Banking Sales Ranking report, published on March 2012. The research note stated that:

1 – Islamic banking is one of the largest growing sectors in the financial industry, and being a pure player in the Islamic banking domain has been an advantage for Path Solutions.
2 – Path Solutions had natural success in the Middle East, as local providers with focus on the Islamic banking solutions.
3 – Path Solutions has had successful implementations of its iMAL system in the African and Asian markets.

For more information on the report, please click here:

Islamic Finance news

In the technology category, Path Solutions was voted Best Islamic Technology Provider at IFN Service Providers Poll 2019.

Path Solutions has made history after winning the award for the 12th consecutive year, 13 times in total surpassing last year’s record by receiving a record-breaking number of votes, cementing what seems like unassailable dominance over the Islamic financial services sector. International Turnkey Systems was voted second, while 2018’s runner-up Oracle FSS came third.

Path Solutions’ string of recognitions is a result of its pioneering and catalytic role, being at the forefront of the international Islamic financial services industry. The company’s multi-award winning Islamic core banking platform includes a web-based, cloud-first solution designed to add significant value, flexibility, control, and operations visibility to clients around the world.

Path Solutions has received praise from distinguished scholars and industry analysts on a global scale. To view the IFN Service Providers Poll 2019 winners, go to:

No.1 Best Selling Islamic Banking Software Provider Worldwide for the seventh consecutive year, ten times in total in IBSI Islamic Sales League 2019

Best Islamic Technology Provider at IFN Service Providers Poll 2019, for the twelfth consecutive year, thirteen times in total

First IT service provider for the Islamic banking industry in regulatory compliance and technology flexibility

Top player as far as Islamic banking is concerned

Leading solution on the market with extensive out-of-the-box business process and compliance support for the full range of Islamic financial products

A pure player in the domain of Islamic banking

Most robust Islamic banking capabilities in the industry

A major industry player with global reach. Reference clients applauded its ability to deliver rich functionality in the highly-regulated Islamic banking environment