Temenos Transact core banking will enable fast product innovation and massive scalability and efficiency for Pakistan’s leading digital payments platform Easypaisa.
Lahore (Muhammad Yasir) Telenor Microfinance Bank, operator of Pakistan’s leading digital payments platform Easypaisa, has gone live on Temenos’ modern core banking platform with NdcTech to power its digital banking services.
By employing Temenos best-in-class solution and NdcTech’s implementation expertise, Telenor Microfinance Bank will be able to innovate faster and provide customers with much-needed access to digital savings accounts and micro-loans. Additionally, this solution will enhance controls, increasing the bank’s ability to comply and achieve operational excellence.
NdcTech collaborated with Telenor Microfinance Bank as the system integrator and implementation partner to successfully lead the banking platform implementation and modernization project. It adopted a hybrid agile implementation approach to complete the project delivery successfully within the stipulated time amidst the COVID-19 crisis. NdcTech’s expertise in Pakistani market practices and such migrations has enabled the Bank to comply with local regulatory and market requirements and best practices.
Telenor Microfinance Bank required scalability, automation, agility, and a proven technology platform that would enable it to offer personalized, customer-centric products, while allowing for lower operational costs and increased return on equity. The bank went live on Temenos Transact, the next generation in core banking, Temenos Financial Crime Mitigation (FCM), Temenos Advanced Collection (TAC), and Temenos Analytics and Reporting, to deliver a seamless, simple, and secure digital experience to its customers while ensuring sustainable growth.
Commenting on the development, M. Mudassar Aqil, CEO, Telenor Microfinance Bank/Easypaisa, said: “We have always remained true to our mission of transforming Pakistan into a cashless society through collaboration and technology. Our partnership with NdcTech to implement Temenos solutions has added a vital component to our services infrastructure, which will catapult our move towards digitization. By going live on the platform, we can now fast-track our digital transformation journey and come up with more innovative digital financial solutions for our customers in a more efficient manner.”
Jean-Paul Mergeai, President – International Sales, Temenos, added: “Congratulations to Telenor Microfinance Bank on its digital banking transformation. Running on Temenos Transact, the bank has future-proofed its technology infrastructure, gaining the agility, efficiency and product building capability to fulfil their customer demands for digital services faster and at lower cost. Temenos is seeing strong growth in the Pakistan market with many of the country’s leading banks now running on our platform. This local market expertise is a key advantage for our banking clients as they seek to innovate and grow.”
Ammara Masood, CEO & President, NdcTech commented: “We are proud of our partnership with Telenor Bank and believe that this transformation will be a game changer for the Bank in terms of enabling their digital capabilities. We look forward to supporting Telenor Bank’s vision and growth in the years to come.”
With Temenos’ winning combination of rich banking functionality and modern core technology, as well as NdcTech’s deep implementation and managed service expertise, Telenor Microfinance Bank is now uniquely positioned to scale quickly and reach new heights by continuing to innovate and offer best-in-class digital financial services to all Pakistanis.