Written By Systems
U Microfinance Bank Ltd. (U Bank), a subsidiary fully owned by Pakistan Telecommunication Company Limited (PTCL) and recognized as the most rapidly expanding Microfinance Bank in Pakistan, has recently formalized a partnership with NdcTech, a Systems Limited company. This collaboration aims to deploy the innovative Temenos Infinity Digital Banking Platform alongside the cutting-edge Temenos Transact next-generation Core Banking Platform.
U Bank's overarching objective is to integrate a larger segment of Pakistan's population into the financial framework by continually advancing product offerings and fostering innovation within the microfinance sector. This mission is aligned with the goal of promoting socioeconomic growth and enhancing the overall quality of life on a national scale. The bank has a network of more than 200 branches, 45,000 agent locations across 183 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposits, payment services, and wallet solutions.
This will empower the bank to deliver an elevated customer experience, facilitate the swift introduction of adaptable and distinctive products, and significantly reduce transaction processing times. For U Bank, the ability to offer personalized services via this platform will be pivotal in remaining competitive and ensuring greater inclusivity and accessibility for its customer base.
Leveraging the power of Temenos' open banking platform and coupled with NdcTech's extensive implementation proficiency, U Bank will effectively streamline its operations and facilitate the rollout of advanced digital products within shorter timeframes. This collaborative partnership positions U Bank to provide more accessible and cost-effective financial services to the Pakistani populace, thereby fostering greater financial inclusion.
Mr. Kabeer Naqvi
President & CEO, U Microfinance Bank
In order for us to continue to bring more people into financial net, we must continue to innovate and develop products to fulfill the varying needs of our customers. With Temenos banking platform and NdcTech as our technology partner we feel that we are equipping ourselves to create the financial and social impact at a rapid and competitive pace.
President – International Sales, Temenos
We are proud U Bank has chosen Temenos to accelerate its digital transformation. We are moving to an increasingly cashless society and Temenos’ open banking platform will enable U Bank to deliver the modern digital banking experiences customers want, faster and at lower cost.
CEO and President NdcTech
We are thrilled to establish a partnership with U Microfinance Bank, a trailblazing and visionary institution that has already left a substantial mark in Pakistan. Our anticipation is high as we embark on this collaborative journey to facilitate swift expansion for U Microfinance Bank, aiming to create a tangible transformation in the landscape of banking services delivery within Pakistan.