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Khushhali Bank Upgrades its Core Banking System

  • April 3, 2017
  • Content Desk
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Khushhali Microfinance Bank has signed an agreement to acquire Core Banking System by Temenos (the software specialist for banking and finance).

The system will be implemented by National Data Consultant (NDC) a specialized Fintech solution provider and Temenos Certified Partner in the MEA region.

With Khushhalibank’s selection of Temenos Core Banking system along with Pakistan Model Bank for its Retail and MSME services, the bank will also implement Temenos connect, FCM, Insight and Risk as their new digital solution.

A.F.F. Ferguson & Co. has provided consultancy services for Khushhalibank’s core banking application system (CBAS) in its selection and implementation phase.

KHUSHHALI will be the 11th Bank to acquire Temenos Core Banking system in Pakistan. On the occasion, President Khushhali Microfinance Bank said, “Our ambition to reach out to the financially excluded with quality products & services will be facilitated by the investment in a strong technology foundation. We look forward to working with Temenos & NDC on this transformational journey”.

Mr Jean-Paul Mergeai Managing Director, Temenos Middle East & Africa Temenos said, “Temenos is extremely honoured to have been selected by Khushhali Microfinance Bank as their Technology partner to enable Khushhali’s Operations on strategic Business initiatives for the transformation of their core banking system. As our 11th signing in Pakistan, Khushhali Microfinance Bank is an important milestone in the continuous development and Commitment of our business and the delivery of value to the Pakistani banking industry”.

Ms Ammara Masood; President and CEO of NDC said “we look forward to further deepening the relationship as a strategic collaborator and implementer during the transformation program at Khushhali. Microfinance Bank It is an integral part of our economy and this digital transformation process which is intrinsically linked to the banks’ strategy for financial inclusion will help further assist in expediting growth for the bank”

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Launched in 1967 internationally, Computerworld Magazine is the oldest tech magazine/media property brand in the world. Today Computerworld (abbreviated as CW) is an ongoing decades old professional publication which in 2014 "went digital”. In Pakistan Computerworld was launched in 1995. Initially providing news to IT executives only, once CIO Pakistan from the same family launched, and took over the domain, CW Pakistan has slowly emerged as a holistic technology news platform reporting everything tech in the country. It remains the oldest running continuous IT media publishing platform in the country and approaching 3 decades of existence, it has been the industry’s biggest benchmark and hopes to continue for years to come.
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