Bank of Khyber selects Autosoft’s treasury solution
Pakistan’s Bank of Khyber (BOK) has chosen Autosoft Dynamics’ Islamic treasury management system, Adams, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS.
The government-owned bank will use Adams (automatic deal, money market and securities trading system) for conventional and Islamic treasuries, while AutoRTGS will be used for processing fund transfers between banks.
Masood Wahedna, head of treasury at BOK, says it reviewed several solutions offered by different vendors but were “convinced by the value addition and reliability offered by Adams”.
BOK also went through a lengthy core banking software overhaul. In 2011, it signed a deal with local provider Sidat Hyder to implement its Bank Essentials core banking system. The implementation was finally completed in 2016, Banking Technology understands.
Autosoft and its systems
Earlier this month, Pakistan-based Askari Bank went live with Adams Islamic and AutoRTGS.
Autosoft focuses on the banking and financial services sector – both conventional and Islamic – with the majority of its customers based in Pakistan. It also has a number of sites in the Middle East and Africa, particularly in South Sudan. Overall, it has around 20 customers and employs 130 people.
Domestic users of the Autobanker core banking system include Al Baraka Bank (Pakistan), Sindh Bank and First Women Bank. In South Sudan, clients include Eden Commercial Bank, Royal Express Bank and People’s Bank.
