Islamabad, March 9, 2021: Pakistan Telecommunication Company Limited (PTCL) signed a partnership with NdcTech, an award-winning regional partner of Temenos, to offer Banking Services on Cloud for the first time in Pakistan.
Nadeem Khan, Acting CEO and Group Chief Financial Officer, PTCL Group, Zarrar Hasham Khan, Chief Business Services Officer, PTCL, Saad Muzaffar Waraich, Group Chief Technology & Information Officer (Operations), PTCL and Ammara Masood, CEO & President, NdcTech attended the signing ceremony held in Karachi, along with senior officials from both sides.
This collaboration will allow NdcTech and PTCL to offer Cloud-based Digital Banking and Core Banking solutions. This will be offered to banks and non-banking financial institutions for the first time in Pakistan. This partnership will open new avenues and facilitate banks to provide banking services digitally to their customers in less than 90 days. Furthermore, it will also allow banks to configure the model they want to operate and prepare for agility and change from the very start.
On the occasion, Nadeem Khan, Acting CEO & Group Chief Financial Officer, PTCL Group, said, “With the rising need to keep financial sector data secure, PTCL is the right choice for an in-country Cloud-based hosting solution for this sector. We are serving corporates and enterprises with a truly robust and secure solution with the capability to host the data within Pakistan. This agreement will enable PTCL and NdcTech to jointly facilitate banks and financial organizations to create a safer and more secure Cloud solution for storing financial data within the country.”
On the occasion, Jean-Paul Mergeai, President, APAC and MEA, Temenos, said, “We welcome this partnership between NdcTech and PTCL to provide a local Cloud hosting solution for banks in Pakistan. Temenos software is cloud-native and designed for the digital banking age. Temenos is the platform of choice for banks that want to create hyper-efficient cost models, get to market faster and rapidly launch innovative personalized products.”
On the occasion, Ammara Masood, CEO & President, NdcTech, said, “This is a strategic partnership for us with PTCL, who clearly stands out as a trusted partner with state-of-the-art and secure facilities in Pakistan. Through this collaboration, we will jointly host world’s leading Temenos Software for Banks wanting to use value added services on PTCL Cloud. Temenos cloud-native and cloud agnostic products and our offering of Pakistan Model Bank built with local country specific products and services is fully integrated with the National switches and gateways allowing digital banks to launch rapidly.”
As part of this collaboration, PTCL will offer data center and infrastructure services, whereas NdcTech will provide implementation, upgrades and managed services of the solutions by Temenos.
Pakistan Telecommunication Company Limited (PTCL) is the largest integrated Information Communication Technology (ICT) Company of Pakistan. With a humble start from a telephone and telegraph department in 1947, it has evolved to offer latest digital and telecommunication technologies today. It acts as the communication backbone for the country with the largest fiber cable network that spans from Khyber to Karachi and submarine cables connecting Pakistan to the world. PTCL has been assigned initial long-term entity rating of ‘AAA’ (Triple A) and short-term rating of ‘A-1+’ (A-One Plus). For more information, visit www.ptcl.com.pk
NdcTech is an award-winning partner of Temenos (the worlds #1 Banking Software) providing unmatched services and innovations to financial institutes and banks. The company has more than 20 years of experience in delivering transformational services including Core Banking, Financial Crime Management & Risk, Payments, Digital Banking, Analytics & Artificial Intelligence, Channels & Interfaces, Implementation & Upgrade Services, Training, Testing & Migration Services, & Post Live Services. NdcTech collaborates with customers in Pakistan & MEA to enhance their digital capabilities and solves their toughest challenges by driving innovations to create new products and business models.