Khushhali Microfinance Bank has announced that they have signed an agreement to acquire the leading Core Banking System by Temenos (the software specialist for banking and finance). The system will be implemented by National Data Consultant (NDC) a specialized Fintech solution provider and Temenos Certified Partner in the MEA region. With Khushhali bank’s selection of Temenos Core Banking system along with Pakistan Model Bank for its Retail and MSME services the bank will also implement Temenos connect, FCM, Insight and Risk as their new digital solution.
A.F.F. Ferguson & Co. (a member firm of PwC network) has provided consultancy services for Khushhali bank’s core banking application selection and will also provide consultancy in implementation phase.
KHUSHHALI will be the 11th Bank to acquire Temenos Core Banking system in Pakistan. On the occasion, President Khushhali Microfinance Bank said, “Our ambition to reach out to the financially excluded with quality products and services will be facilitated by the investment in a strong technology foundation. We look forward to working with Temenos & NDC on this transformational journey”.
Khushhali Microfinance Bank is a pioneer institution amidst Pakistan’s microfinance banking industry, having been created in 2000 to address the challenges of poverty and access to finance. NDC is a leading provider of IT solutions focused towards the Banking and Financial industry in Pakistan, Middle East & Africa region. Temenos Group AG (SIX: TEMN), headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace.