iMAL

iWINDOW

Powered by iMAL

Path Solutions offers the industry’s widest range of software solutions to Islamic banks and Islamic financial institutions addressing all their operational requirements.

Path Solutions’ iMAL, is a new generation of comprehensive enterprise and yet modular Islamic banking and investment system addressing the in-depth business functionality and the state-of-the-art technology in a single, highly integrated front, middle and back office system. It is a user-friendly, integrated, modularized suite reflecting an extensive range of business practices.

iMAL is being designed and developed from scratch on the basis and principles of Sharia,
to enable a powerful and service-oriented banking infrastructure without restrictions and with minimum disruption to banking operations.

The solution provides full support to various functions within the organization including: Corporate & Retail Banking, Investment Banking, Financing, Treasury & Brokerage, Settlement, Risk Management, Funds & Portfolios, Trade Finance, Facility Management, CIF, Profit Calculation, Accounting & MIS, Private & Personal Banking, Fixed Assets, Personnel & Payroll, Assets & Liabilities Management, Shareholders Registration and Regulatory Reporting.

Path Solutions offers a differentiating proposition second to none – the combination of a deep knowledge base in the field of Islamic banking with software solutions developed in-house – that is indigenous to the Islamic banking community and unique to Path Solutions.

More on iMAL Islamic Banking Solution

Benefits to Customers

  • Assurance that the services/products offered are Sharia-compliant
  • Transparency in financing and investment operations
  • Convenience with ability to bank 24/7
  • Use of a range of products based on different socio-economic needs
  • Easy access to new products (accounts, cards, chequebooks, financings, trade finance, and investment)
  • Cost reduction resulting from visiting branches
  • Time-saving by conducting instant banking transactions (transfers & payments) without the need to visit the branch
  • Banking in a secure and safe zone with high security features like multi-factor authentication, data encryption, transaction limits, session management, and password management

Retail Customers

  • Ability to self-register in the service in an easy way

Corporate Customers

  • Ability to define multiple users with roles and privileges
  • Ability to define an approval matrix for financial transactions and payments
  • Enhanced and easier cash management by sweeping and pooling funds and viewing cash flow of accounts
  • Salary and bulk payments reconciliation

Benefits to Businesses

  • Benefit from Sharia-compliant solutions
  • Execute variant Islamic financing and investment instrument
  • Maintain a solid workflow concept of the Islamic contracts’ processes
  • Set up new Islamic products in line with industry market trends
  • Cater for new innovative financing and investment products with minimum set-up time and effort
  • Monitor customers’ requests and activities and provide support in a timely manner
  • Create cross-selling/up-selling opportunities with add-on services
  • Provide tools to support KYC and AML modules
  • Provide management dashboards with configurable, graphical views and configurable KPIs
  • Strengthen customer loyalty through enhanced transaction security
  • Identify and generate a list of prospect for loan products based on eligibility requirement
  • Reduce administrative and operational costs associated with physical branches
  • Readiness for retail and corporate banking operations
  • Multiple ways to register retail customers (branch and online registration)
  • Commercial flexibility and user friendliness
  • Customer segmentation for targeted service packages
  • Compliance with market and international regulations
  • Easy to add new products and services under the Sharia-based policy
  • Faster time to market
  • Exact fit to business requirementr
  • Employment of various delivery channels
  • Ability to reduce projects’ timelines
  • Multi-currency, multi-branch, multi-company enabled accounting backbone
  • Improved marketing decisions by monitoring the statistical and analytical reports
  • High parameterization capabilities: Greater process efficiency and better risk mitigation
  • Increased market share where banks are able to reach out to more customers
  • Ease of integration with 3rd party systems via a flexible integration layer
  • Phased migration and implementation

As Islamic finance keeps expanding, the adoption of Islamic windows in conventional financial institutions constitutes a great opportunity for growth, increased profitability, and new market share. Path Solutions reaffirms its commitment to the Islamic finance industry with the availability of iWINDOW suite catering for Islamic window operations to help financial institutions in grabbing new business opportunities, thus allowing them to reach new potential customers, maximize their investments and efficiency while being in full compliance with the Sharia regulations.

iMAL can run with Oracle latest technologies, i.e. Oracle Database 12c, Oracle WebLogic 12c, Oracle Linux 7, Oracle Solaris 11,
Oracle VM 3, Oracle Big Data Appliance and Oracle Database Appliance.