Meezan Bank manages Rapid Branch Expansion by implementing Temenos Transact Core Banking Platform

Case Study

Meezan Bank is the leading Islamic bank in Pakistan, and the fastest growing amongst both conventional and Islamic financial institutions. The bank was established in 2002 with four branches, now has 291 branches across Pakistan and plans to have more than 700 by 2017. The number of employees has doubled to more than 4,000 since 2007.

Project Details

To expand their nationwide branch network with ease, Meezan bank began the initial procuring of Transact as its core banking system with support of NdcTech as an implementation partner, in response to their management setting an ambitious branch opening target in its five-year plan.

Iqbal Ahmad

Iqbal Ahmad

Executive Vice President | IT

Before T24, we had a decentralised service in all branches. The expansion policy of 2004/5 forced us to rethink and we decided to adopt for a centralised integrated application.

Temenos Transact supports Meezan Bank’s branch trading, from retail to trade finance, treasury, and all kinds of alternative distribution channels by integrating with the bank’s middleware.

Meezan Bank is currently using Transact Release 8 and the IT department’s next big project is an upgrade to Release 12 on the new Temenos Enterprise Frameworks Architecture (TEFA) platform.

Iqbal Ahmad

Iqbal Ahmad

Executive Vice President | IT

We evaluated a number of applications and chose T24 because of its ability to support this ambitious growth from a single integrated platform.

Meezan Bank first ran T24 Release 5 in 2006 to acquire the treasury functionality. Having signed an agreement with Temenos and NdcTech in March 2007, the bank implemented T24 Release 8 for core banking.

Iqbal Ahmad

Iqbal Ahmad

Executive Vice President | IT

We conducted a business review and produced documentation and began working with the local implementation partner NdcTech, We utilized the model bank approach. We did our best to use as much as we could and then got into vigorous testing.

The first branch went live in May 2009 and a staged roll-out followed, which took two years to complete. Most branches were connected by the end of 2011 and a final 23 branches have been rolled out in 2012. The bank has two types of branches. The first offers a full range of services, trade finance, treasury, financing and retail. The second services the deposit product alone. A new concept, the smart branch, is also being trialed.

Benefits to bank

Meezan Bank believes that the TEFA platform is an opportunity for Temenos to develop generic functionality for Islamic banking. The Bank has worked with NdcTech and Temenos to develop Shariah-compliant financial products, including long-term capital, commercial and structural for large corporations and government, which were not available in the Islamic banking module. The bank has been successful in creating a wide range of Islamic banking financial products. Meezan Bank’s dedication to Islamic banking has made it a leader and it is being called upon to provide consulting services internationally. It is also entering into partnerships with banks in other countries that share the same vision of establishing a viable Islamic banking system. The rapid rollout of comprehensive integrated core banking solution allows the bank to have advanced architecture that improves overall performance of the large branch network. It enables the bank to have Out-of-the-box Islamic banking functionality and provides support from local partners and Temenos for development of Islamic banking products.

The advanced system will enable the bank to build smart branches with lean staff team in the front office and will be equipped with very smart technology solutions such as interactive kiosks offering ease and personalized services to the customers.

Ariful Islam

Ariful Islam

COO | Meezan Bank

The implementation of TEMENOS T24 is a major milestone for Meezan Bank. We are confident that this will enable us to meet the demands of our rapidly growing branch network and also provide a stable and efficient technology platform to meet the challenges of a very competitive banking industry in Pakistan.

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