Path Solutions, a leading global provider of integrated Sharia-compliant software solutions and services for Islamic banks and financial institutions announced the successful go live of The Arab Leasing Co. (known as TALC) on its award-winning finance solution with full Arabic user interface for enhanced and seamless customer experience.
Established in May 2009, TALC is a private finance company operating within the diversified financial sector focusing on consumer finance. Based in Khartoum, Sudan, TALC provides Islamic financing through leasing and Murabaha for both the corporate and retail sectors with focus on corporates.
Salah Aldin Nazlawi, General Manager of TALC commented, “Path Solutions was a clear choice for us owing to the solution’s success across Sudan along with the speed and scalability it offers. We are confident that this technologically advanced financing solution will help us to build an automated platform that allows us to simplify the current processes and better serve our customers”.
Path Solutions implemented its award-winning solution in record time, which will deliver significant operational benefits for TALC. The finance solution will enable faster decision making and managing the day-to-day operational challenges faced by TALC effectively and efficiently; this includes corporate facility origination, contract execution, collection and legal follow-up, general ledger, revenue accounting along with value-added features like real-time payment acknowledgement and enhanced security, all while streamlining processes and reducing the turnaround time.
Osama Touny, Senior Vice President, Path Solutions, said, “Constant innovation and upgradation of the technological infrastructure of financial institutions is imperative in today’s times. We are glad to support TALC’s vision of a centralized finance solution allowing them to evaluate and automate the creditworthiness process to help speed up credit facilities approval, and therefore efficiently manage payments, and optimize liquidity. We are confident that they have invested in the right technology and believe our solution will help them in their journey of IT-enabled business transformation. We look forward to a continued flow of great opportunities in the Sudanese market for similar solutions”.
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This successful implementation reinforces Path Solutions’ position in the Sudanese market. The company is working closely with its clients in Sudan through its local support office. Path Solutions has also offices in Kuwait, Bahrain, UAE, KSA, Lebanon, Egypt, Pakistan, India, Indonesia, Malaysia and UK.