Mobilink Bank, Pakistan’s leading digital microfinance institution, has announced a strategic partnership with Systems Limited to modernize its core banking platform, leveraging the capabilities of the Temenos Core banking system, a leading provider of banking software.
This collaboration aims to enhance customer experience, streamline operations, and position the bank as a leader in the evolving financial landscape of Pakistan.
As part of its digital transformation journey, Mobilink Bank, which is the first in Pakistan to upgrade its platform to the latest version, R23, will deploy its banking system on a cloud-based infrastructure known as Oracle Kubernetes Engine (OKE). This upgrade will provide greater flexibility and improved service for the bank’s customers, aligning with the bank’s mission to deliver financial inclusion and exceptional service.
Mobilink Bank is part of VEON group, a global digital operator serving nearly 160 million customers across six markets (7% of the world’s population).
What does the Mobilink and Systems partnership entails?
The partnership will see Systems Limited implement a suite of advanced solutions, including Temenos Core, Advanced Collections, and Data Hub, to accelerate innovation and enhance analytics and reporting capabilities. Systems Limited, a long-standing partner of Mobilink Bank for over 12 years, is recognized for its expertise in delivering Temenos solutions, which are designed to meet local regulatory requirements and best practices.
Strategic partnership marks a significant step forward in digital transformation
Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Bank, highlighted the significance of the partnership, stating, “At Mobilink Bank, we are dedicated to empowering our customers through financial inclusion and exceptional service. This strategic partnership marks a significant step forward in our digital transformation journey.” He added “By leveraging Temenos’ globally recognized core banking platform and Systems Limited’s proven expertise, we will deliver a future-proof infrastructure that enables us to offer our customers a personalized and seamless banking experience.”
Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, emphasized the impact of the partnership on the bank’s operations and growth. “Our partnership with Systems Limited will modernize our core banking infrastructure, enabling us to enhance customer experience through personalized digital offerings, based on the evolving market trends for unlocking new growth avenues. This partnership will further streamline our banking processes, optimize our technology roadmap and position us as a leader in the digital banking landscape,” he said.
Systems Limited expressed its commitment to supporting Mobilink Bank’s transformation. Ammara Masood, Global Industries GM BFS at Systems Limited, remarked, “We look forward to upgrading and running the core banking system on a Cloud Native Platform for Mobilink Bank. By leveraging our extensive experience and regulatory accelerators like Pakistan Model Bank, we are well-equipped to transform the Bank’s platform seamlessly to meet local regulations and practices. It’s inspiring to witness Mobilink Bank’s drive for innovation as they reimagine banking for their millions of customers and foster economic progress in the country.”
Temenos also lauded the partnership, with Lee Allcorn, Managing Director, Middle East & Africa, commenting, “We’re delighted that Mobilink Bank has chosen to upgrade to the latest version of Temenos core banking in the cloud, enabling it to scale elastically, operate more efficiently, and innovate faster. This is a further vote of confidence in Temenos’ modern composable banking platform from a fast-growing, innovative digital bank, and together with Systems Limited, we look forward to helping Mobilink continue expanding its customer base.”
The partnership between Mobilink Bank and Systems Limited marks a significant milestone in the bank’s efforts to modernize its infrastructure and deliver a superior banking experience to its customers, reinforcing its leadership position in Pakistan’s digital banking sector.