Path Solutions is a global leader of AAOIFI-certified financial software solutions and technology-based services for the fast-growing Islamic financial services industry. The company’s flagship iMAL is the industry-leading digital Islamic core banking platform, and the first and only AAOIFI-certified suite, confirming its compliance with AAOIFI’s Sharia and financial accounting standards. It has been architected out of years of experience and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable Islamic solutions available in the market. Over the years, iMAL has been recognized by leading industry analysts such as Gartner, Forrester and Celent for its broad and deep Islamic functionality, flexibility, viability and operational performance.
iMAL suite of solutions addresses the core banking, Islamic banking, investment, financing and collection, omnichannel, payments, treasury, trade finance, risk management and compliance requirements of Islamic financial institutions worldwide to drive business excellence.
iMAL helps traditional and emerging Islamic financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. The platform is highly reliable, cloud-enabled, deployable on a fully scalable, n-tier architecture, and supports digital transformation and open banking through artificial intelligence, blockchain and other technologies.
Path Solutions is a pioneer in utilizing the latest technology to serve financial institutions globally with its embedded Open Banking Platform (OBP). The company offers a differentiating proposition second to none – the combination of a deep knowledge base in the field of Islamic banking with next-generation software solutions developed in-house – that is unique to Path Solutions.
Path Solutions’ commitment and expertise in Islamic banking and finance are underlined by the fact that more than 10% of the world’s Islamic financial institutions are powered by iMAL.
Path Solutions has a relentless focus on innovation and consistently invests 25% of its revenue into research and development. The company is passionate about helping financial institutions to perform better, and thus it is fully focused on creating innovative banking software in its five R&D centers. The first one being Kuwait headquarters, followed by Lebanon, Egypt, India and Pakistan R&D centers, in addition to near-shore support offices spread across the UK, Malaysia, KSA, UAE, Morocco, Sudan and Bahrain, and a global business partner network across four continents.