Pakistan’s largest bank, HBL chooses Temenos to transform its banking services

Geneva, Switzerland–(BUSINESS WIRE)–Temenos (SIX: TEMN), the banking software company, today announces that HBL, Pakistan’s largest banking network, will adopt Temenos’ core banking platform to provide domestic and international operations with a advanced banking.

HBL will onboard over 25 million Bank customers on Temenos open platform for composable banking1. The platform will accelerate the Bank’s services across all segments, markets and channels. HBL customers will benefit from an improved user experience in the form of increased reliability and security and a modern platform that will improve HBL’s scanning journey.

The implementation of Temenos will include a full suite of user-friendly products and services that will provide end-to-end, technologically advanced solutions to HBL’s conventional and Islamic banking customers. Faster onboarding and faster transaction processing will provide a more seamless customer experience, enabling HBL to grow its digital footprint in Pakistan and internationally. The new system will also strengthen compliance with local banking regulations and improve reporting standards for international markets in China, GCC countries, Europe and SAARC countries.2.

Muhammad Aurangzeb, President and CEO – HBL, said, “The open technology platform provided by Temenos is flexible, ready for the world, and has the breadth of banking services to meet the ever-changing banking needs of our clients. This partnership contributes to our goal of becoming a “technology company with a banking license”.

Sagheer Mufti, COO – HBL, added, “At HBL, we are always looking for better ways to serve our customers. By adopting this industry-leading platform, we will strengthen our ability to provide customers with an improved experience when using our services, now and for many years to come. »

Max Chuard, CEO of Temenos, said: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. Innovate quickly and safely, develop its offer and achieve its growth objectives. We are proud to support HBL in realizing this exciting vision for over 25 million customers worldwide.

About HBL

HBL was the first commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and maintained its position as the largest private sector bank in Pakistan with over 1,650 branches and over 2,100 ATMs worldwide and serving more than 25 million people. customers all over the world.

The Bank’s extensive portfolio includes retail banking, corporate banking, commercial and investment banking, treasury and global markets, consumer, rural and SME banking, development finance, transaction and employees and Islamic banking.

About Temenos

Temenos AG (SIX: TEMN) is the world leader in banking software. More than 3,000 banks worldwide, including 41 of the top 50 banks, trust Temenos to handle both day-to-day transactions and customer interactions for more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-independent and AI-powered front office, core banking, payment and fund administration software, enabling banks to deliver seamless omnichannel customer experiences and reach operational excellence.

Temenos software has been proven to enable its top performing customers to achieve cost-to-income ratios of 26.8%, half the industry average, and returns on equity of 29%, three times the industry average. These customers also invest 51% of their IT budget in growth and innovation versus maintenance, twice the industry average, proving that banks’ IT investment adds tangible value to their business.

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1 “Composable banking” means that HBL can, if it wishes, combine, replace, add and exchange components, systems and connectors. Traditional vendors lock in functions such as decision making, reporting, analytics and more, which reduces flexibility.

2 The South Asian Association for Regional Cooperation (SAARC) is the regional union of South Asian states: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.

Shawanda H. Saldana