Meezan Bank selects Systems Limited and Temenos to modernise its core banking platform

KARACHI: Meezan Bank Limited has partnered with Systems Limited and Temenos to modernise its core banking platform, a statement said.

The primary driver behind this modernisation effort is Meezan Bank’s commitment to staying at the forefront of technological progress to better serve its customers with an enriched suite of Sharia-compliant financial products.

As part of this project, Meezan Bank and Systems Limited, managing respective work areas between the two entities, will undertake several key initiatives including technical upgrade of the core banking system to the latest Temenos release, ensuring compatibility with existing interfaces, introducing new customisations for Islamic banking, and modernising the bank’s infrastructure.

Systems Limited will leverage the Pakistan Model Bank (PKMB) framework to offer pre-packaged functionalities and localised templates tailored to meet the specific needs of Pakistani financial institutions, allowing for efficient and minimally disruptive modernisation efforts.GM Global Industries BFS at Systems Limited Ammara Masood stated, “At Systems Limited, our goal is to drive the digital transformation of financial institutions worldwide.”