Path Solutions assisted IDB Iraq to get AI-ready, move faster and smarter with iMAL*BI
Path Solutions is pleased to announce that International Development Bank (“IDB”) in Iraq – one of the fastest growing banks in the region, has successfully gone live with iMAL*BI from Path Solutions.
This project is fundamental to IDB’s digital transformation strategy to improve customer experience, increase process efficiency, benefit from value-producing opportunities, and drive revenue. The new iMAL*BI will therefore enable business agility while fostering innovation, competitive differentiation, and profitable growth. The implementation of iMAL*BI at IDB was conducted remotely during the COVID-related shutdown. This new and flexible approach has allowed Path Solutions’ team to successfully overcome the unique challenging circumstances and further demonstrate their expertise and transfer of knowledge with close alignment of project goals and budget.
“We believe that the future involves a number of disruptive changes that banks worldwide will have to prepare themselves for. Business Intelligence has quickly become a key tool for leading banks to drive profitability, reduce risk, and create competitive advantage, and banks of all shapes and sizes will have AI-powered banking applications in the very near future. We are very excited about the deployment of the new iMAL*BI solution. Now that the intelligent era advances, we should be able to meet the demands of the market for faster innovation and increased customer satisfaction”, commented Dr. Ziyad Khalaf Abed, Chairman of IDB Iraq.
iMAL*BI will enable IDB to improve the fact-based decision making, offer personalized services to its customers, augment users’ decisions with data-driven insights, and maximise straight-through processing (STP) rates for financial transactions at reduced cost with limited or no human intervention.
Path Solutions has invested heavily in Path Intelligence stack from governance and AI-based fraud detection tools, to machine-learning and predictive analytics models, leveraging its superior functionality. iMAL*BI is an integral part of this new platform and an essential component in creating the intelligent bank of the future.
“We would like to thank IDB for trusting us in this journey. We are very proud to have been part of this amazing achievement toward transforming the bank into a data-driven organization. We are very impressed by IDB’s team who invested a lot of time and energy to ensure timely execution and that the system goes live without a hitch. The successful project implementation means that even when facing an unforeseen large-scale outbreak of this magnitude, Path Solutions can overcome any challenge that comes along the way, thanks to our professional and dedicated project team which worked across multiple geographies to make it happen”, said Mohammed Kateeb, the Group Chairman & CEO of Path Solutions.
The implementation of iMAL*BI at IDB covered the installation of a modern data architecture, a comprehensive end-to-end data warehousing solution, an automated ETL process and a progressive data model with on-the-fly analytics. The solution offers comprehensive data marts and dashboards covering a broad spectrum of the bank’s business from Retail Banking to Financing, HR analytics, Trade Finance and P&L analysis, backed by centralised metadata security.