MIZAN Migration To Boost Efficiency, Digital Integration – Alt Bank COO

Alt Bank has accomplished its migration to MIZAN, a core banking platform designed for Islamic and non-interest monetary establishments, as a part of efforts to enhance operational effectivity, digital integration and buyer expertise.

The financial institution stated the transition would strengthen its expertise infrastructure, simplify inner processes and supply a basis for sooner product growth and improved service supply.

Fatai Tella, Chief Operating Officer of Alt Bank, who confirmed the profitable migration, stated the financial institution would now concentrate on translating the funding into measurable enhancements in its operations and providers.

He stated the transition marked an necessary milestone within the financial institution’s expertise transformation, including that its success would finally be decided by the worth it delivers to clients and enterprise companions.

“The migration to MIZAN has been completed, and our banking services are now running on the new platform. This is an important milestone, but the real value of this investment will be measured by what it enables us to do differently and better,” Tella stated.

He defined that the platform would allow the financial institution to simplify operations, deepen digital integration and reply extra rapidly to clients’ wants.

“MIZAN is not simply a replacement of our previous core banking system. It provides an opportunity to simplify operations, improve efficiency, deepen digital integration and respond faster to customer needs,” he added.

“Our focus now is to translate these capabilities into tangible improvements in service delivery, operational performance and customer experience.”

The migration addresses the distinct technological necessities of non-interest banking, whose monetary merchandise are structured round particular contractual preparations, asset-backed transactions and profit-sharing mechanisms.

These options affect how transactions are processed, earnings distributed and monetary merchandise managed, requiring expertise platforms able to supporting the working rules of non-interest finance.

Hassan Yusuf, Managing Director and Chief Executive Officer of AltBank, stated the financial institution wanted expertise infrastructure that mirrored the peculiarities of its enterprise mannequin and its long-term ambitions.

“The more non-interest banking grows, the more important it becomes that the infrastructure underneath it understands what makes the model different,” Yusuf stated.

He added that MIZAN would supply an working basis extra carefully aligned with the rules and buildings underpinning the financial institution’s providers.

“We should not have to continuously translate non-interest banking into the language of systems designed for something else. MIZAN gives us an operating foundation closer to the principles, structures and ambitions of the institution we are building,” he stated.

Developed by Peerless, MIZAN helps contract-based financing, asset-backed transactions, profit-sharing and distribution, in addition to audit controls and digital integration capabilities.

The financial institution expects the platform to assist extra environment friendly processes, sooner product growth and extra responsive customer support.

The migration additionally follows Alt Bank’s resolution earlier in 2026 to hitch the International Islamic Financial Market (IIFM), an organisation that develops requirements for Islamic finance documentation and market practices.

According to the financial institution, the 2 initiatives replicate its dedication to strengthening the technological infrastructure and institutional frameworks required to assist the expansion of non-interest finance.

Yusuf stated the trade wanted to maneuver past workarounds and strengthen its requirements, merchandise and supporting infrastructure to attain its potential.

“If this industry is going to achieve its potential, it cannot remain dependent on workarounds. The standards must mature. The products must mature. The infrastructure must mature. We intend to be part of making that happen,” he stated.

With the migration accomplished, Alt Bank stated its rapid precedence was to maximise the platform’s capabilities to ship measurable advantages to clients and enterprise companions whereas advancing its ambition to construct a digitally enabled establishment targeted on moral wealth creation.