IFIN platform provides a highly flexible process design which allows the bank to build the same products’ processes, credit approval and authority matrix already used in its operations within IFIN system without having to make any changes. The IFIN system is secure, reliable, easy to implement, cost-effective and can be fully integrated with the bank’s core banking system.

A Shariah Compliant Solution

The Platform has been designed and developed to be a Shariah compliant solution that provides instant Islamic finance facilities. The possibility of using a wide range of products is a unique feature of IFIN FinTech solution as the Western solutions provide only interest-based consumer loans.
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The main aspects in respect of the Shariah compliance of the Platform include:

  • Utilising sale/lease contracts based on the Islamic principles of Murabaha, Ijara, Istisna’…etc;
  • All legal agreements have been reviewed from Shariah point of view by an independent Shariah scholar to ensure Shariah compliance;
  • Explicit offer and acceptance notices are exchanged through the system and reflected into the legal agreements;
  • Built in controls will ensure that the Murabaha/Ijara/Istisna’ process is completed accurately and in accordance with Shariah requirements – the system will not allow any stage of the transaction to be processed unless the previous stage has been completed;
  • The Platform will generate reports showing the date and time of completing each step for Shariah audit purposes;
  • Financial institutions and retailers can conduct their own Shariah audit checks, if needed.




The system filters applications based on the banks predetermined parameters such as affordability, minimum finance required, demographics and any other information required by the bank.


If the customer meets the required parameters in stage one, a credit check is performed which includes central bank data, to ensure accuracy of info provided like name, ID number, account number, amount of existing loans etc. If there is a mismatch with the information provided, the Retailer can double check the information provided by the customer.


The information provided is processed within the decision engine which is based on the financial institutions pre-existing rules and the application is either approved, referred or declined.



It is important to be assured that the system will work exactly as expected, and that it will keep working, even in the face of deliberate attempts to interfere with or prevent its function. IFIN platform uses users’ authentication to identify the logging in user identity and records all authorisation decisions based on the user’s identity.

IFIN platform’s security design focuses on deployment considerations; input validation; authentication and authorisation; cryptography and data sensitivity; configuration, session, exception management and adequate auditing and logging to ensure accountability.

IFIN system does not hold or save any customer information. All customer data is saved on the bank’s server.



IFIN is a state of the art platform that can be easily integrated with the bank’s core banking system to create a complete end-to-end automation of the financing process, providing the bank with significant reduction in transactional cost as a result of reducing the time spent by sales staff, credit risk officers and back office operation staff.


The bank’s implementation strategy will  include the following main steps:

  • Setting up the parameters to accommodate the bank’s application form, products, process flows and the related credit criteria.
  • Build the connection between the new software and the bank’s core banking system.
  • Build the connection to the credit bureau to allow for single instant requests to be sent for each finance application.
  • Conduct extensive testing to ensure security and integrity of the system and the service offered.
  • Soft launch targeting a select number of existing customers.
  • Full launch, upon complete satisfaction of all aspect of the new serves.
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