Pakistan’s Samba Bank extends Temenos partnership with Transact core banking upgrade
Pakistan’s Samba Bank has migrated its core banking and financial crime systems to the latest release of Temenos Transact, extending its long-term partnership with the Swiss vendor and its regional implementation partner NdcTech.
Samba Bank upgrades to latest release of Temenos Transact
Samba Bank says the core banking upgrade has enabled it to “harmonise” its IT infrastructure and boost its digitalisation efforts and growth.
Temenos says the new system enables faster transaction processing times, automates several manual processes and reduces operational costs.
It also allows the bank to develop and market new products rapidly, enabling Samba Bank to respond quickly to changing market dynamics and enhance its competitiveness.
Samba Bank CEO and president Ahmad Tariq Azam says the partnership with Temenos and NdcTech has enabled the firm to “future-proof” its growth.
NdcTech upgraded all banking modules at Samba Bank including core, retail, lending, deposits, financial crime mitigation (FCM) and trade finance, and also incorporated an image-based cheque clearing system and low balance alert system.
Samba Bank, which is a subsidiary of Saudi National KSA, offers personal and corporate banking services such as current and savings accounts, loans and investments. The bank has branches across 14 cities in Pakistan.
