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Khushhali Microfinance Bank drives transformation with Temenos Modern Core and Digital Banking Platform

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April 18, 2019

Khushhali Microfinance Bank embraces the Temenos Modern Core and Digital Banking Platform for its transformation.

Islamabad, Pakistan – March 19th, 2019 – Khushali Microfinance Bank Limited, the largest microfinance institution in the country, proudly declared the successful implementation of a comprehensive suite of Temenos Financial Software. This achievement was made possible through the collaborative efforts of their partners, Temenos, the global leader in banking software, and Systems Limited, A Systems Limited Company and an award-winning IT provider specializing in banking solutions. 

The bank, in partnership with Systems Limited, has implemented the entire Temenos suite using the Pakistan Model Bank approach. This approach incorporates pre-configured, country-specific features for Temenos Core Banking, Digital Platform (Internet and Mobile), Financial Crime Mitigation (FCM), and Analytics. This comprehensive solution will empower the bank to expedite the realization of its strategic growth objectives. 

Temenos CBS has streamlined the operations of five different banking systems into the T24 Core using a "big bang" approach. This consolidation spans across 186 branches and service centres, catering to over two million customers and managing the processing of eight hundred thousand loans. In addition to this, the bank has bolstered its digital capabilities for Internet and Mobile Banking, while also enabling Field Officers to process loans digitally. 

Khushali Bank marks the 12th bank in Pakistan to successfully complete its transformation journey with the partnership of Temenos and Systems Limited This accomplishment serves as a testament to the power of collaboration among teams with diverse expertise and backgrounds, demonstrating their ability to achieve exceptional results. 

From bank’s perspective, it’s a major milestone as the new system will improve customer experience, increase operational efficiency and reduce risks. We are very excited with the capabilities the system provides and look forward to embarking on our digital journey. I would like to congratulate all team members for their efforts towards successful completion of this project.

Core Banking System

CEO & President, Khushhali Microfinance Bank

In a rapidly evolving financial landscape, banks that aim to flourish require mission-critical solutions and steadfast local partners to ensure their success. Our collaboration with Khushhali Microfinance Bank has been instrumental in achieving this success, in tandem with Temenos. We are committed to furthering our well-established track record and assisting other banks in their digital transformation endeavors.

Core Banking System

Global Industries GM Banking and Financial Services, Systems Limited

Temenos are delighted to announce the recent go-live of Khushhali Bank Pakistan, our 12th bank in the country to partner with us in deploying the next generation of banking software. As the largest microfinance bank in Pakistan, we are proud to welcome Khushhali to our ever growing Temenos community and look forward to working with them on their digital roadmap both now, and well into the future. This transformational program was an achievement for all stakeholders involved and once again highlights the success and strength in the Temenos partner network.

Core Banking System

Jean Paul Mergeai
Managing Director Temenos MEA

About Khushhali Microfinance Bank 

Khushhali Bank was established as the first microfinance bank in Pakistan following the enactment of the Khushhali Bank Ordinance by the Government of Pakistan in the year 2000. This initiative was a pivotal component of the national Poverty Reduction Strategy and Microfinance Sector Development Program. Initially, the bank's capital was provided through sponsorship from fifteen commercial banks, with significant shares held by NBP, HBL, MCB, and UBL. The bank holds a license from the State Bank of Pakistan (SBP) to operate across the nation, with its corporate headquarters situated in Islamabad. 

About Systems Limited  

Systems Limited is a fully owned subsidiary of Systems Limited and a renowned partner of Temenos, the world's leading provider of banking software, and has been recognized with awards for its exceptional contributions to financial institutions and banks. The company specializes in delivering transformative services that encompass consulting on best practices, implementation, upgrades, support, and training for Temenos and other partner solutions. Operating in collaboration with customers in Pakistan and the Middle East and Africa (MEA), Systems Limited focuses on enhancing their digital capabilities and addressing their most complex challenges by driving innovation to create new products and business models. Systems Limited brings its wealth of expertise and experience to various sectors, including Conventional Banking, Islamic Banking, Central Banking, Microfinance Banking, Investment Banking, and Non-Banking Financial Institutes.  

About Temenos 

Temenos Group AG (SIX: TEMN), headquartered in Geneva, is a leading software provider in the market. It collaborates with banks and various financial institutions to facilitate the transformation of their operations and maintain a competitive edge in an ever-evolving marketplace. With a global presence, Temenos serves over 2,000 firms, including 38 of the top 50 banks worldwide, enabling them to efficiently handle the daily transactions of more than 500 million banking customers. Temenos customers consistently demonstrate higher profitability compared to their peers. Over a seven-year period, they have achieved an average 31% higher return on assets, a 36% higher return on equity, and an 8.6 percentage point lower cost-to-income ratio when compared to banks that rely on legacy applications.  

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