March 28, 2023
Systems Limited, a premium technology services provider, has successfully modernized the core banking system for Samba Bank onto the latest Temenos Transact.
Samba Bank Limited operates as a Pakistan-based subsidiary of the Saudi National Bank (SNB) KSA, providing a comprehensive range of banking services to both individual and corporate clients. Their offerings include current and savings accounts, loans, investments, and a diverse array of digital banking solutions. With a considerable customer base, the bank boasts an extensive branch network spanning across 14 prominent cities in Pakistan.
Over the years, Samba Bank has developed a longstanding partnership with Temenos and Systems Limited to achieve its vision of hyper-scaling the bank’s network through digitization. The bank needed to move to a modern and scalable core banking system that could support its overall growth objectives.
Moving onto the latest release of Temenos Transact is a stepping stone for the bank to streamline its IT infrastructure and expedite the digitization process. Temenos offers a flexible, modular, and scalable platform that is driven by APIs, enabling it to effectively meet the complex requirements of banks and financial institutions.
Systems Limited's unique approach and implementation methodology incorporated with innovative frameworks accelerated Samba Bank’s transformation. The team accomplished a successful upgrade of all modules for Samba Bank, covering Core, Retail, Lending, Deposits, FCM, and Trade finance, to the latest Temenos Transact release. Systems Limited used the Pakistan Model Bank to ensure compliance with local regulatory requirements, incorporate tax changes, and modernize the bank's trade processes. Additionally, Systems Limited introduced advanced features such as the Image-Based Cheque clearing system and a low balance alert system, enabling the bank to leverage modern functionalities for smooth and efficient banking operations.
Samba Bank is now on the path to realising the benefits of the dynamic and efficient platform to achieve long-term growth. With enhanced product agility, improved time-to-value, and accelerated innovation, the bank can make business decisions swiftly. The implementation of the new system has led to faster transaction processing, streamlined automation of manual processes, and reduced operational costs, resulting in heightened efficiency and productivity. Moreover, this adaptable platform empowers the bank to rapidly develop and launch new products, enabling quick responses to ever-changing market dynamics and bolstering competitiveness within the banking industry.
We are pleased to announce that Samba Bank has successfully modernized its Core Banking Platform onto the latest release of Temenos Transact with Systems Limited as the strategic partner. Working closely with Systems Limited and Temenos over the years has enabled us to drive digital change and future proof the ongoing growth of Samba Bank. Samba Bank is now at the forefront of capability to deliver innovative and state of the art financial services to its customers and envisions to constantly innovate its processes and offerings to keep pace with the evolving digitization of banking industry.
AHMAD TARIQ AZAM
PRESIDENT CEO, SAMBA BANK
I would like to congratulate the Samba management and teams for their collaboration with us to modernize Core Banking and Financial Crime platform. Systems Limited has been a trusted partner of Samba for almost a decade, and we take pride in consistently delivering value that has helped the bank achieve its digital vision and drive business growth. Systems Limited has an established track record of successful upgrades delivered using our methodology, automated tools, and accelerators like Country Model Bank. We use implementation capabilities for building a future-ready bank, making us the ideal partner for banks and FIs like Samba Financial.
Global Industries GM Banking and Financial Services, Systems Limited