{"id":565613,"date":"2024-12-11T10:37:02","date_gmt":"2024-12-11T09:37:02","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=565613"},"modified":"2024-12-11T10:37:02","modified_gmt":"2024-12-11T09:37:02","slug":"state-bank-of-pakistan-systems-limited-temenos-modernise-core-banking-system","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/state-bank-of-pakistan-systems-limited-temenos-modernise-core-banking-system\/","title":{"rendered":"State Bank of Pakistan, Systems Limited & Temenos modernise Core Banking System"},"content":{"rendered":"

\"FintechSystems Limited,<\/a> a global system integrator and service provider, has announced a landmark agreement with the State Bank of Pakistan (SBP)<\/a> to upgrade and modernise its core banking platform to the latest Temenos<\/a> core banking software and implement Temenos Payment Hub to modernise the Central Bank’s payment infrastructure.<\/p>\n

Systems Limited will use its domain specialists and accelerators for central banks<\/a>, as well as its deep expertise, to carry out upgrades for this critical modernisation program.<\/p>\n

The modernisation also includes implementing the Temenos Payment Hub, which will allow SBP to streamline real-time domestic and global payments and settlements based on the new SWIFT ISO 20022 MX message standards. This will enable faster and more secure transaction processing and allow integration with RAAST and RTGS real-time payment systems within the ecosystem.<\/p>\n

This transformation is pivotal for both SBP and Systems Limited. For SBP, it enhances its capacity to manage critical banking functions and support digital processes while providing a more robust infrastructure to oversee Pakistan’s financial landscape. For Systems Limited, partnering with the country\u2019s central bank marks a milestone in its journey as a premier technology enabler in the region\u2019s banking sector.<\/p>\n

Asif PeerGroup<\/strong>, CEO and MD of Systems Limited<\/strong>\u00a0shared, \u201cThis collaboration with the State Bank of Pakistan is a monumental step in our country\u2019s financial transformation. By leveraging our central bank<\/span> and Payment accelerators alongside Temenos’ advanced technology, we are accelerating and leapfrogging the modernisation journey for the country\u2019s central Bank. Systems Limited is committed to providing SBP with the tools it needs to support a thriving and secure financial ecosystem.\u201d<\/p>\n

Jamil Ahmad, Governor of the State Bank of Pakistan,<\/strong> said, \u201cThis initiative represents a significant milestone in SBP\u2019s ongoing efforts to modernize Pakistan\u2019s banking infrastructure. With the implementation of advanced core banking technology and an integrated payments system, we are reinforcing our ability to oversee and support the country\u2019s rapidly evolving financial landscape. This will further enable SBP to provide a secure, efficient, and scalable platform that will benefit all participants in Pakistan\u2019s financial ecosystem.\u201d<\/p>\n

William Moroney, Chief Revenue Officer, Temenos,<\/strong> said, \u201cWe are delighted that the State Bank of Pakistan has chosen to extend its long-standing partnership with Temenos, reaffirming its trust in our comprehensive core banking platform. This decision underscores the confidence the State Bank of Pakistan places in our ability to deliver unparalleled functionality, deep localisation, and continuous innovation. Powered by Temenos, the State Bank of Pakistan is well-positioned to drive growth, enhance customer experiences, and lead the way in the dynamic banking landscape of Pakistan.\u201d<\/p>\n","protected":false},"author":35800,"featured_media":556761,"parent":0,"template":"","categories":[41779,11368],"tags":[38037,37446,46534,25755,11649,21391,45125,35898,46533,38442,24845,32346,12714,45126],"class_list":["post-565613","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-banktech","category-core-banking","tag-apac-fintech","tag-apac-news","tag-bank-digital-microfinance-bank","tag-core-banking-system","tag-digital-banking","tag-fintech-news","tag-fintech-pakistan-temenos","tag-fintech-solutions","tag-mobilink","tag-pakistan-fintech","tag-state-bank-of-pakistan","tag-systems-limited","tag-temenos","tag-temenos-country-model-bank"],"acf":[],"yoast_head":"\nState Bank of Pakistan, Systems Limited & Temenos modernise Core Banking System<\/title>\n<meta name=\"description\" content=\"Systems Limited has announced a landmark agreement with the State Bank of Pakistan (SBP) to upgrade and modernise its core banking platform\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/state-bank-of-pakistan-systems-limited-temenos-modernise-core-banking-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State Bank of Pakistan, Systems Limited & Temenos modernise Core Banking System\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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