DIB Pakistan and Systems Limited have signed a Core Banking System implementation agreement, under which DIB Pakistan will migrate its core banking system from Oracle Flexcube to Temenos’ cloud native Transact platform. Systems Limited will lead the implementation as a certified Temenos partner, drawing on its banking transformation expertise to execute the migration.
Muhammad Ali Gulfaraz, Chief Executive Officer of DIB Pakistan, said the bank aims to deploy advanced technology to deliver convenient, fast, and effective solutions for customers, describing the partnership with Systems Limited as the first major step in leveraging Temenos’ technology. He added that the transformation would allow DIB Pakistan to deliver a modern, digital first banking experience underpinned by robust compliance and the scalability needed to support the bank’s growth plans.
Santhosh Rao, Managing Director for the Middle East and Africa at Temenos, said the company was building on its existing relationship with DIB Pakistan, part of one of the world’s largest Islamic financial institutions, to support its core banking modernization. Systems Limited Group Chief Executive Officer and Managing Director Asif Peer described core banking transformation as the foundational pillar underpinning an institution’s entire digital future, saying the company would bring both Temenos’ technology and its own implementation expertise to the engagement.
DIB Pakistan Chief Operating Officer Syed Farhan Ahmed called the transformation a defining moment for the bank, saying the Temenos Transact Core platform would give it the operational backbone to streamline processes and build the resilience needed to scale. DIB Pakistan Chief Information Officer Imran Ali Khan Soomro added that the implementation would accelerate the bank’s digital and AI ambitions. Temenos Chief Revenue Officer William Moroney said the modernization was expected to deliver significant operational and strategic advantages through an API first architecture, enabling DIB Pakistan to scale operations while enhancing stability, security, and regulatory compliance. The agreement adds to a series of core banking modernization efforts among Pakistani financial institutions, following HBL’s earlier adoption of the Temenos platform to transform services for more than 25 million of its clients.
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