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ICSFS Successfully Go-Live on ICS BANKS® Banking Solutions @ Al Rajhi Bank

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Al-Rajhi Bank – Jordan, a key foreign branch of the world’s largest Islamic bank, has successfully gone live on ICS BANKS® Universal Islamic and Digital Banking Solutions from ICS Financial Systems Ltd. – ICSFS, a global software services provider for banks and financial institutions.

The implementation scope which covered the bank’s head office, 10 branches, and network of 47 ATMs; included completely scrubbing Al Rajhi Bank’s legacy system and succesfully migrating to ICS BANKS® Full-fledged Universal Islamic Banking Solution as well as ICS BANKS® Holistic Digital Banking solutions, enabling Al Rajhi to deliver a much broader scope of services and products to their customers and furbishing them with direct access to their banking services anytime, anywhere through ICS BANKS® neumerous and secure digital touchpoints.

Customers of Al Rajhi Bank – Jordan will notice a positive impact on their digital banking experience with ICSFS’ multiple-award-winning and future-proof Banking System, including a significant shift in Al Rajhi Bank’s Shari’a-compliant financial products and services such as Ijara, Murabaha, in addition to Joint Investment accounts, Time Deposits, Istisna’a and Parallel Istisn’a, Islamic Treasury system, and Islamic-Investment Certificate of deposit, adding more value to Al Rajhi’s offering and enhancing financial inclusion.

Al Rajhi Bank – Jordan will benefit from a future-proof and turbo-charged digital banking system with a multitude of solutions including ICS BANKS® Business Process Management (BPM), ICS BANKS® Credit Facilities and Risk Group, ICS BANKS® Internet & Smart Mobile for retail and corporate, SMS Banking, ICS BANKS® Digital Global Transaction Banking solution, ICS BANKS® Treasury, Trade Finance, Remittances, ERP, and DMS, in addition to a bundle of banking productivity tools that comes built-in with ICS BANKS® system including ICS BANKS® advanced reporting, notifications, Nostro Reconciliation, 360° Customer Exposure, e-KYC, and Loan Origination modules.

These solutions not only streamline operations but also position Al Rajhi Bank – Jordan as a forward-thinking institution ready to embrace future advancements in banking technology.

Mr. Eyad Jarrar, CEO of Al Rajhi Bank – Jordan, Stated: “We are thrilled to navigate the financial services market with our new fully digital Shari’a-compliant Islamic Banking and Digital Banking Solutions. The new mobile app stands out for its significant benefits to our clients. It offers a more streamlined and user-friendly customer experience, making banking easier and more efficient.

“With the enhanced mobile app, our customers can access a wide range of diversified products and services effortlessly. This advancement opens up a world of possibilities for us to better serve our customers and meet their evolving needs.

“In today’s world, banking technology is a fundamental necessity, making the selection of the right solution a crucial decision. Our choice was made easier by the outstanding banking solution we have implemented.

“Lastly, on behalf of Al Rajhi Bank – Jordan, I would like to express my deep gratitude for the high professionalism, proficiency, and relentless support we received from ICSFS while navigating this delicate endeavour.”

Mr. Mohannad Mousa, Head of IT at Al Rajhi Bank – Jordan, also stated: “The exceptional efforts by the Al Rajhi Bank team and ICSFS have led to a smooth transition from our old core banking system to the new one.

“This seamless changeover has significantly streamlined our operations, enhanced efficiency and improving service delivery. The new system is designed to support a wide range of digital banking services, providing our clients with a more user-friendly and efficient banking experience.

“Our fully digital Shari’a-compliant Islamic Banking and Digital Banking Solutions, including the new mobile app, stand out for their significant benefits.

The dedication, teamwork, and resilience demonstrated by Al Rajhi Bank and ICSFS team throughout this transformative phase have been instrumental in our success.

Their unwavering commitment to excellence has truly elevated our collective achievements, ensuring that we continue to meet and exceed our customers’ evolving needs Thank you to the entire team for exemplifying the true spirit of partnership and for your relentless pursuit of excellence.

From His Side, Robert Hazboun, Global CEO of ICSFS, commented: “Our partnership with the largest Islamic bank in the world comes as a testament to the quality solutions we develop at ICSFS.

“The seamless Big Bang Go-Live of ICS BANKS® solutions at Al Rajhi Bank – Jordan, is an important milestone for the bank and for ICSFS as well, as it reasserts the Bank position in the local and global markets, while demonstrating our commitment to deliver innovative, expandable, stable, and cost-effective banking solutions to our clients from around the world.

“We take our role in contributing to the growth and prosperity of the Banking and Finance sector very seriously, and we follow rigorous quality standards to ensure the satisfaction of our clients and their customers. We look forward to the rest of our journey with Al Rajhi Bank – Jordan and offering them our full support on their journey to consistently deliver excellent services. ”

Wael Malkawi, Executive Director of ICSFS, commented: “As we celebrate a new and important milestone on our journey of innovation and growth with Al Rajhi Bank, ICSFS reiterates its commitment to contributing to the growth of its clients and its dedication to empowering them with best-of-breed technologies that will elevate their offerings and give them a sure-footed traction in their respective markets.

This significant achievement marks a remarkable new era for Al Rajhi Bank – Jordan with ICS BANKS® as their powerful and agile banking engine, and we pledge to continue working very closely with them to deliver an exceptional banking experience to their growing customer base. ”

ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide.

ICS BANKS® software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers journey experience, hence improving the trust and confidentiality between the customer and the bank.

ICS BANKS has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system can be deployed on-premises, hybrid, or cloud.


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Identy.io Targets Nigeria, Kenya in Its Africa Expansion Strategy

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Nigeria and Kenya are the next target markets for Identy.io, a global provider of digital identities, as it expands into Africa. Facial, fingerprint, and palm identification are among the safe, mobile biometrics that the company specialises in.

According to Indenty.io, its platform runs locally on smartphones, eliminating cloud storage while maintaining security and privacy.

It goes to say this is achieved by leveraging standard smartphones for fingerprint and face scans, the company aims to bridge the continent’s digital divide, where a significant number of adults still lack basic identification.

To spearhead this rollout, the firm has appointed a specialised regional leadership team, including industry veterans from Nigeria’s Bank Verification Number programme, to integrate their automated Biometric Identification System into national digital public infrastructure.

The company says the significance of this move lies in the departure from traditional, “clunky” biometric models.

Historically, digital ID enrollment in Sub-Saharan Africa has been throttled by the high cost of specialised scanners and the logistical nightmare of deploying them to rural areas.

Identy.io notes that its approach shifts the heavy lifting to mobile software.

Identy.io is positioning itself to capture a market the World Bank’s Identification for Development initiative identifies as critical for financial inclusion.

If successful, this could accelerate government-to-person payments and healthcare access in regions where coverage currently sits below 70%.

“We are transforming the traditional industry model, which often relies on expensive and inflexible digital infrastructure,” says Antony Vendhan, Co-founder of Identy.io. “This allows our clients to reach underserved communities by providing individuals with multimodal access to secure their digital identities.”

The company will face established players like IDEMIA and Thales, who have long dominated government contracts.

Furthermore, Identy.io will face competition from up-and-coming regional fintech identity firms such as Smile ID, which already has a significant presence in Know Your Customer services throughout Africa.

To gain an edge, Identy.io has aligned itself with Modular Open Source Identity Platform (MOSIP).

By being listed on the MOSIP marketplace, the company says its tech becomes “plug-and-play” for governments building open-source national ID systems, a growing trend among nations wary of “vendor lock-in.”

While the primary focus remains on Nigeria and Kenya, Identy.io’s long-term roadmap includes a phased rollout to other emerging markets.

 


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Russia Blocks WhatsApp, Pushes State App Max as Alternative Amid Telegram Clampdown

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Russia has confirmed the blocking of popular messaging platform WhatsApp, directing its citizens to switch to the state-backed Max messenger, in a move escalating restrictions on foreign digital services.

Russia Blocks WhatsApp, Pushes State App Max as Alternative Amid Telegram Clampdown

Russia

The decision, announced by Kremlin spokesperson Dmitry Peskov on Thursday, stems from WhatsApp’s parent company Meta’s alleged failure to comply with Russian laws, though specifics were not disclosed. This action follows days after authorities intensified curbs on Telegram, another widely used app among millions, including military personnel, officials and state media.

Peskov described Max as “an affordable alternative on the market for citizens, a developing national messenger,” emphasising its role in replacing non-compliant foreign platforms. WhatsApp, owned by Meta—which also operates the already banned Facebook and Instagram—responded sharply, accusing Moscow of attempting a full block to force users onto a “state-owned surveillance app.” The company stated: “Trying to isolate over 100 million users from private and secure communication is a backwards step and can only lead to less safety for people in Russia,” vowing continued efforts to reconnect users.

The block is not isolated. Earlier this week, Roskomnadzor, Russia’s communications regulator, announced further restrictions on Telegram for refusing to remove “criminal and terrorist” content, throttling its performance nationwide. Telegram founder Pavel Durov countered that such pressures would not deter the platform’s commitment to “freedom of speech and privacy.” This builds on prior measures, including August 2025 restrictions on video and voice calls on both WhatsApp and Telegram to combat criminal activity, which WhatsApp then decried as access limits.

Max, developed by VK and launched in beta in March 2025, positions itself as a WeChat-like super-app with messaging, voice/video calls, group chats up to 1,000 users, cloud storage, end-to-end encryption for private chats, payments via Russia’s Faster Payment System, and integrations for government services and identity verification. Since September 2025, it has been pre-installed on all new smartphones, tablets and smart TVs sold in Russia, alongside the RuStore app store, as part of a broader “sovereign internet” strategy to monitor communications and replace Western tech amid geopolitical tensions.

Users report partial WhatsApp access via VPNs, but Russian authorities have ramped up countermeasures, restricting 439 VPN providers and enacting a September 2025 law banning ads for bypass tools while deeming VPN use an “aggravating circumstance” in crimes. Fines for individuals deliberately accessing blocked content via VPNs reach 5,000 rubles (about $64). Critics warn these steps enhance state surveillance, while state media insists Max requires fewer user data permissions than rivals.

The clampdown reflects Moscow’s long-running push for digital control, with over 60 percent of VPN users previously accessing banned social media. As Russia promotes domestic alternatives, the moves could reshape communication for its 100 million-plus messaging users, raising global concerns over privacy and internet freedom.


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Nigeria Market Powers Jumia’s Momentum as E-commerce Platform Demand Accelerates

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Nigeria powered Jumia Technologies AG’s strongest growth in 2025, cementing its position as the company’s most important market as rising consumer demand, SME activity and logistics expansion boosted performance across the e-commerce platform.

In the fourth quarter of 2025, Jumia’s Nigeria operations recorded a 50% year-on-year increase in Gross Merchandise Value (GMV) and a 33% rise in orders. The performance highlighted growing adoption of online shopping and Jumia’s increasing relevance to African consumers.

Nigeria’s momentum helped drive 36% year-on-year GMV growth and 34% revenue growth across the group in the quarter, alongside a 26% increase in quarterly active customers. Growth was supported by stronger customer retention and higher order frequency.

Beyond sales growth, Jumia said its Nigeria operations are delivering wider economic impact. The platform supports thousands of local SMEs, enabling them to reach customers nationwide, while continued investment in fulfilment centres and last-mile delivery is creating income opportunities for logistics partners and sales agents.

Efficiency gains were also evident. Fulfilment costs per order declined 12% year-on-year, contributing to a 39% reduction in operating losses and a 47% drop in adjusted EBITDA losses in the fourth quarter. Cash used in operating activities fell sharply to $1.7 million, compared with $26.5 million a year earlier, while liquidity stood at $77.8 million at year-end.

Temidayo Ojo, Chief Executive Officer of Jumia Nigeria, said the results reflect growing trust from consumers and businesses. “Nigeria is central to Jumia’s growth,” Ojo said. “Each order supports local sellers, delivery partners and jobs, while improving access to affordable products for consumers.”

For the full year, Jumia reported 14% GMV growth and 13% revenue growth, with losses narrowing significantly. Looking ahead, the company expects Nigeria to remain a key growth driver as it targets 27–32% GMV growth in 2026 and aims to reach adjusted EBITDA breakeven by the fourth quarter of 2026.

 


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