March 10, 2021
Islamabad, March 9, 2021: Pakistan Telecommunication Company Limited (PTCL) signed a partnership with Systems Limited, a Systems Limited company and an award-winning regional partner of Temenos, to offer Banking Services on Cloud for the first time in Pakistan.
Present at the signing ceremony in Karachi were key figures including Nadeem Khan, Acting CEO and Group Chief Financial Officer of PTCL Group, Zarrar Hasham Khan, Chief Business Services Officer at PTCL, Saad Muzaffar Waraich, Group Chief Technology & Information Officer (Operations) at PTCL, and Ammara Masood, Global Industries GM BFS, Systems Limited. Accompanying them were senior officials from both entities.
Through this partnership, Systems Limited and PTCL will introduce Cloud-based solutions for both Digital Banking and Core Banking. For the first time in Pakistan, these services will be extended to banks and non-banking financial institutions. This collaboration will enable banks to swiftly offer digital banking services to their customers within a mere 90-day timeframe. Moreover, it grants banks the flexibility to tailor their operational model according to their preferences, ensuring readiness for adaptability and transformation right from the outset.
With the rising need to keep financial sector data secure, PTCL is the right choice for an in-country Cloud-based hosting solution for this sector. We are serving corporates and enterprises with a truly robust and secure solution with the capability to host the data within Pakistan. This agreement will enable PTCL and NdcTech to jointly facilitate banks and financial organizations to create a safer and more secure Cloud solution for storing financial data within the country.
Acting CEO | Group Chief Financial Officer, PTCL Group
We welcome this partnership between Systems Limited and PTCL to provide a local Cloud hosting solution for banks in Pakistan. Temenos software is cloud-native and designed for the digital banking age. Temenos is the platform of choice for banks that want to create hyper-efficient cost models, get to market faster and rapidly launch innovative personalized products.
President, APAC and MEA, Temenos
For us, this marks a pivotal strategic collaboration with PTCL, a distinguished partner renowned for its advanced and secure infrastructure in Pakistan. Through this synergistic venture, we will co-host the renowned Temenos Software, a global leader in banking technology, on PTCL Cloud, thereby extending value-added services to banks. The fusion of Temenos' cloud-native and cloud-agnostic products with our Pakistan Model Bank solution, enriched with localized products and services, creates a seamless integration with national switches and gateways. This empowers digital banks with rapid launch capabilities, solidifying their presence in the digital landscape.
Global Industries GM Banking and Financial Services, Systems Limited
Within the framework of this partnership, PTCL will extend its expertise in data center and infrastructure services, while NdcTech will take the lead in delivering implementation, upgrades, and managed services for the Temenos solutions.
Pakistan Telecommunication Company Limited (PTCL) is the largest integrated Information Communication Technology (ICT) Company of Pakistan. With a humble start from a telephone and telegraph department in 1947, it has evolved to offer the latest digital and telecommunication technologies today. It acts as the communication backbone for the country with the largest fiber cable network that spans from Khyber to Karachi and submarine cables connecting Pakistan to the world. PTCL has been assigned initial long-term entity rating of ‘AAA’ (Triple A) and short-term rating of ‘A-1+’ (A-One Plus). For more information, Visit PTCL
About Systems Limited
Systems Limited a subsidiary of Systems Limited, is also an award-winning partner of Temenos (the world's #1 Banking Software) providing unmatched services and innovations to Financial Institutions and Banks. The company has more than 20 years of experience in delivering transformational services including Core Banking Modernization, Digital Banking services, Managed services, Banking on the Cloud, & Consultancy. Systems Limited collaborates with customers in the Middle East, Africa, & Asia Pacific region to enhance their digital capabilities and solve their toughest challenges by driving innovations to create new products and business models.