HBL, Pakistan’s largest bank network, adopted the Temenos core banking platform to provide domestic and international operations with a cutting-edge banking experience.
Temenos is an international banking software company. It offers cloud-native, cloud-agnostic, API-first digital banking, core banking, payments, fund management, and wealth management software products, enabling banks to deliver consistent, frictionless customer journeys and achieve market-leading cost/income performance.
HBL will onboard over 25 million of the Bank’s clients onto Temenos open platform for composable banking. The platform will accelerate the Bank’s services across all segments, markets, and channels. HBL clients will have an enhanced user experience in the form of increased reliability, security, and a modern platform that will enhance HBL’s digitalization journey.
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The Temenos implementation will include a full suite of client-friendly products and services that will provide end-to-end, technologically advanced solutions to both HBL’s conventional and Islamic banking clients. Faster onboarding and quicker transaction processing will provide a more seamless client experience, enabling HBL to increase its digital footprint across Pakistan and internationally. The new system will also enhance adherence to local banking regulations and improve reporting standards for international markets in China, GCC, Europe, and SAARC countries.
#HBL selects @Temenos to transform its banking services across Pakistan & internationally. This includes a full suite of client friendly products & services providing end to end technology for both conventional and Islamic banking. @StateBank_Pak pic.twitter.com/XeU9GuqfbM
— HBL (@HBLPak) February 16, 2022
HBL ready to provide clients with excellent services
Muhammad Aurangzeb, President & CEO – HBL, said: “The open technology platform provided by Temenos is flexible, global-ready, and has the breadth of banking services to meet our clients’ fast-developing banking needs. This partnership contributes to our goal to become a ‘Technology company with a Banking License’.”
Sagheer Mufti, Chief Operating Officer – HBL, added: “At HBL, we are always looking at better ways to serve our clients. By adopting this leading platform, we will add to our capability to give clients an improved experience when using our services, now and for many years to come.”
Max Chuard, Chief Executive Officer – Temenos, commented: “HBL is a forward-looking bank with a pioneering approach to shaping the future of banking. Temenos open platform for composable banking will free the bank from legacy constraints. To innovate safely at speed, as well as scale its offering and achieve its growth goals. We are proud to support HBL as it delivers on this exciting vision for more than 25 million clients worldwide.”
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