Pakistan’s UBL picks Temenos Infinity for digital banking transformation
Pakistani digital bank UBL has selected Temenos and its Infinity digital banking solution, alongside local implementation partner National Data Consultant (NdcTech).
UBL claims to offer the country’s first and only Islamic digital bank account. It also provides a payment system through which customers can use their phones as debit cards.
Temenos says the bank has kicked off a digital transformation across all channels, products and segments.
The vendor says once Infinity goes live it will cover the “entire customer lifecycle”, from onboarding to deposits, loan origination, and digital servicing.
“This partnership with Temenos and NdcTech is a great catalyst in our digital transformation journey,” says Shazad Dada, president and CEO of UBL.
He adds Infinity forms part of his bank’s objectives to become more agile and tailor its services to the “changing needs” of its customers.
NdcTech, Temenos & UBL sign a digital tech transformation deal. Image source: NdcTech LinkedIn
Temenos views Pakistan as a “key growth market”. Other users of its technology in the country include Bank of Khyber, Khushhali Microfinance Bank, and Soneri Bank.
The vendor has signed another Infinity implementation deal in the country this week, with Bank of Punjab. NdcTech is again acting as implementation partner.
Based in Lahore, Bank of Punjab operates 640 branches across Pakistan and claims to be one of the largest financial institutions in the country.
Zahid Mustafa, the bank’s chief consumer and digital banking exec, says it wants to design a new banking experience “for this new digital world”.
