PESHAWAR: The Bank of Khyber (BOK) has shifted its operations to digital platform to provide the customers with internet and mobile banking facilities.
A statement issued here said the bank had successfully gone live with Temenos Transact, the next generation core banking; Temenos Infinity digital banking platform; financial crime mitigation and analytics.
It said the implementation was carried out by National Data Consultant (NdcTech), Temenos’ Middle East implementation partner based in Pakistan.
The statement said the new technology would support the bank in offering differentiated retail, SME and corporate banking products, including accounts, time deposits and loans for both Islamic and conventional banking.
It said the fully-integrated architecture system enabled BOK to quickly roll out new functionality and services while NdcTech’s expertise in the Pakistani market helped comply with local requirements and best practices.
The statement said Temenos’ digital banking platform supported BOK strategic objectives to increase its market share and drive sustainable growth by optimising its banking operations and reducing operational costs.
NdcTech worked closely with BOK to deliver a hybrid onsite/remote implementation despite the Covid-19 emergency.
The statement said the implementation of Temenos core and a digital platform involved the integration of B0K’s legacy systems and was concluded timely after a complex migration and thousands of functional tests had been carried out on the new system.
The statement quoted Ihsanullah Ihsan, the BOK managing director, as saying that they were delighted to have joined hands with Temenos/NdcTech for the bank’s digitalisation.
Published in Dawn, January 14th, 2021