Rubik expands in Asia with Bank Alfalah
Iain Dunstan, Rubik’s CEO
Pakistan’s Bank Alfalah will implement Australia-based Rubik Financial’s collections platform, CWX.
Rubik is joining forces with long-time banking partner Temenos on the project to integrate CWX with Temenos’ core banking system T24.
Iain Dunstan, Rubik’s CEO, says CWX will enable its clients to “better evaluate, manage and review their collections strategy, as well as greater visibility of debt portfolios than ever before”.
Rubik adds that the latest agreement brings the total to five out of the “top” seven banks in Pakistan using CWX. The firm says it also partners with banks in Dubai and Abu Dhabi.
The news comes in the same week as Rubik went live in Vietnam with the final phase of delivery for CWX to Vietnam International Bank (VIB), which is 15% owned by Commonwealth Bank of Australia (CBA).
Rubik says the VIB project has been an “extensive build out for the local market”, including the development of a Vietnamese language version of CWX in addition to the previously developed Arabic and Bahasa versions.
Bank Alfalah has been operating in Pakistan since 1992 and is owned and operated by the Abu Dhabi Group. It is the sixth largest bank in Pakistan. The bank has a network presence of 500 branches spanning 172 cities across the country with an international presence in Afghanistan, Bangladesh, a wholesale banking unit in Bahrain and a representative office in the UAE.
Australia in August
Recently, Australia-based financial services group, MyState, announced it was gearing up to launch a new digital banking system, provided by Rubik.
The new solution is set to go live in August and promises to transform MyState’s digital channels and customer experience, according to Rubik.
