NdcTech Rolls Out Treasury & Security Module For Bank Alfalah In Pakistan

Aug 23, 2012

PRESS RELEASE

Bank Alfalah has gone live on Temenos Transact to support its Treasury Operations with the support of NdcTech, their implementation partner. Bank Alfalah is one of the largest banks in Pakistan, with a network of 400+ branches across more than 150 cities in the country, and international presence in Asia and Middle East. The Bank provides financial solutions to consumers, corporations and governments through a broad spectrum of products and services, including corporate and investment banking, consumer banking and credit, commercial, SME, Agri-finance, Islamic and Asset financing solutions.

The first phase of the implementation which went live in 2009 was to integrate its retail operations, which services approximately one million customers to aid its growth plans. The successful implementation phase one led to the second stage of a centralization project being undertaken by the bank to roll out Transact across all of its 400+ branches in Pakistan. The bank is currently implementing the third phase of Transact to support its Islamic Banking Operations and is expected to go-live in the second quarter of 2013.

The bank selected NdcTech to implement Temenos Transact considering the strength of its pre-configured products and best practice processes. The new platform replaced an in-house legacy system BankSmart, which had been in place for almost two decades. Using Temenos Transact, Alfalah Bank will be able maximize the process workflow capability and rich functionality of the software to automate a range of back-office treasury functions, including securities, transactions, interbank loans and deposits on an advanced, modern platform for improved operational and financial efficiency.

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