Temenos Transact core banking will enable fast product innovation and massive scalability and efficiency for Pakistan’s leading digital payments platform Easypaisa.
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.
M. Mudassar Aqil, CEO, Telenor Microfinance Bank/Easypaisa, commented
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, said
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 and 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.
Easypaisa, powered by Telenor Microfinance Bank is at the forefront of revolutionizing fintech in Pakistan by delivering innovative, cutting-edge technology solutions. We began our journey in 2005 by establishing a national footprint, with the launch of micro-lending programs. In 2009 we created history by launching the country’s first mobile banking service that has evolved to become the most used digital payments platform. Backed by the largest fintech in the world, Ant Group (affiliate company of Alibaba Group), and the leading multinational organization across Scandinavia and Asia, Telenor Group, we aim to promote financial inclusion by empowering all Pakistanis to adapt convenient and secure digital financial solutions.
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
National Data Consultant (Pvt) Limited (NdcTech) is an award-winning partner of Temenos (the world’s #1 Banking Software) providing unmatched services and innovations to financial institutions and banks. The company has more than 20 years of experience in delivering transformational services including Core Banking implementation & upgrades, Digital Banking services, Banking on the cloud, Managed services, Financial Crime Mitigation & Risk, Payments, Analytics & Artificial Intelligence, Training, Testing & Migration Services, Bespoke developments, and expert services. NdcTech collaborates with customers in MEA & APAC region to enhance their digital capabilities and solves their toughest challenges by driving innovations to create new products and business models.