UBL partners with Temenos and NdcTech to modernize, upgrade and scale its digital banking strategy across channels
UBL, Pakistan’s fastest-growing digital bank, has signed an agreement with Temenos (SIX: TEMN) and National Data Consultant (NdcTech) to provide and implement a next-generation digital banking solution. As a pioneer of innovation in the Pakistani Banking industry, UBL, earlier this year, launched Pakistan’s first Islamic Digital Account and the first of its kind ‘UBL Pay’ where customers can use their phones as debit cards. Through this agreement, the bank has embarked on a digital transformation journey across all channels, products and segments, including retail, SME and corporate, for its domestic and international markets.
Once executed, the bank expects to hyper-scale its digital footprint and provide a modern online banking platform with an integrated, seamless customer experience, covering the entire customer lifecycle from customer onboarding, deposit, loan originations, and digital servicing.
Temenos Infinity is the leader in driving customer acquisition and digital banking engagement with its scalable platform, deep analytics, and AI scoring models. The platform enables banks to increase digital revenues and reduce customer onboarding time significantly. Built on a micro-services architecture, Temenos Infinity is the most open and agile cloud-native product allowing banks to continuously extend and expand their solution for all or portions of the customer lifecycle.
At the signing event, Mr. Jean-Paul Mergeai, President for APAC and MEA, Temenos said
UBL is leading the way in digital banking, and we are proud to support the bank in the next phase of its digital journey. With Temenos Infinity, UBL can take customer experience to the next level, delivering digital experiences that delight customers and make banking better across every channel. Temenos Infinity is the world’s best-selling digital banking platform and our selection, together with NdcTech, reflects our market leadership but also our success working with banks in Pakistan to deliver a rapid implementation and time-to-value.
At the signing event, Ms. Ammara Masood, CEO & President from NdcTech said
We look forward to this collaboration which will allow UBL to make incredible leaps forward in its Digital Banking transformation and customer experiences across various segments. The Temenos Infinity platform and NdcTech expertise will provide the bank new capabilities and a great platform for future innovation.
At the signing event, Mr. Shazad G Dada, President & CEO UBL said
Customer centricity is at the heart of everything we do. This partnership with Temenos and NdcTech is a great catalyst in our digital transformation journey. We are very excited to make this a part of our strategic objective of becoming more agile and tailor our platform to better serve the rapidly changing needs of our customers
The agreement was signed virtually with UBL & NdcTech at the UBL Head Office in Karachi and Temenos at their Head Office in Dubai, UAE.
About United Bank Limited (UBL)
United Bank Limited is a Pakistani multinational commercial bank which is a subsidiary of British company Bestway Group. It is one of the largest banks in the Pakistani private sector, with over 1,400 branches across Pakistan, 19 branches overseas, and a customer base exceeding 4 million.
The bank has an asset base in excess of $15 billion, a global workforce of almost 13,000 people, and a diversified client base covering a broad spectrum of segments and industries across the globe. UBL provides services in wholesale and retail banking through its network of branches and presence across 12 countries in four continents including the UAE, Bahrain, Qatar, Yemen, UK, Switzerland, China, Oman, US, Tanzania, Iran, and Pakistan.
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 institutes and banks. The company has more than 20 years of experience in delivering transformational services including Core Banking upgrades, Digital Banking transformation, Banking on the cloud, Managed services, Financial Crime Mitigation & Risk, Payments, Analytics & Artificial Intelligence, Training, Testing & Migration Services, Bespoke developments, and expert services.