Pakistan’s largest bank in major tech overhaul with Temenos and NdcTech
Habib Bank Limited (HBL) in Pakistan has selected Temenos’ flagship core banking solution, Transact, and auxiliary products “to transform its banking services across Pakistan and internationally”, the bank has announced on LinkedIn.
The new software will support conventional and Islamic banking business lines at HBL, underpinning “a full suite of client-friendly products and services”.
Muhammad Aurangzeb, president and CEO of HBL, says the initiative contributes to the bank’s goal to become a “technology company with a banking licence”.
The project involves an integrator – NdcTech – a long-standing partner of Temenos in Pakistan.
HBL, Temenos, and NdcTech sign a banking technology transformation deal
It is understood the new system will replace the legacy Equation solution from Temenos’ rival, Finastra.
HBL is a broad client of Finastra. It uses its trade finance and treasury solutions in addition to the core tech, FinTech Futures understands.
HBL is Pakistan’s largest bank, providing a broad range of services to individuals and businesses – branch banking, retail banking, corporate and investment banking, treasury, SME and rural banking, financial institutions and global trade services, transaction banking, and Islamic banking.
It has over 23 million customers, a network of 1,650+ branches and 2,100+ ATMs, presence in 14 countries, and 20,000+ employees.
Temenos is well established in Pakistan, and counts Bank of Khyber, Meezan Bank, Soneri Bank, Silkbank, and Telenor Microfinance Bank, among its clients. The country’s central bank, State Bank of Pakistan, also uses Temenos’ core banking system.
