Autosoft Dynamics ousts rival Path Solutions at ex-Burj Bank in Pakistan
Autosoft Dynamics ousts rival Path Solutions at Al Baraka Bank in Pakistan
Al Baraka Bank in Pakistan is migrating the acquired fellow Islamic bank, Burj Bank, onto the Autobanker core banking system from Autosoft Dynamics.
The acquisition was announced last autumn.
Al Baraka is already a long-standing user of a broad range of systems from Autosoft across its 150 branches, including the Autobanker core, commercial and consumer Islamic financing, trade finance, treasury (the Adams system) and human capital management.
Burj Bank, meanwhile, has been using the iMAL core system supplied by rival vendor Path Solutions.
“After a lengthy evaluation process, Autosoft received the final approval from Al Baraka Bank to implement its product suite in the 74 ex-Burj Bank branches,” Autosoft says.
Shafqaat Ahmed, the bank’s CEO, comments that both Path and Autosoft “provided support throughout the evaluation process”.
“We see technology as a key enabler and have taken the strategic decision to deploy Autosoft’s Islamic banking system across the bank to continue to provide a platform to effectively and efficiently manage growth,” he explains.
He adds that the solution is cost-effective and the vendor’s local support services are “excellent”.
He anticipates the implementation to be “straightforward”.
Once the iMAL system is replaced, Autobanker will support Al Baraka Bank’s network of 224 branches, 208 ATM touch points with access in over 100 cities across Pakistan.
Pakistan-based 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, namely in South Sudan. Overall, it has around 20 customers and employs 130 people.
