Pakistani lender HBL has selected Temenos core banking platform in a bid to transform its domestic and international operations.
As agreed, the bank will transfer more than 25 million of its clients onto Temenos open platform for composable banking.
The move will provide HBL with access to a full suite of products and services, and enable the lender to offer technologically advanced conventional and Islamic banking solutions.
Additionally, the adoption will expedite customer onboarding and reduce processing time of transactions.
It will also help HBL in complying with local banking regulations, international reporting standards as well as expand its digital footprint across Pakistan.
The composable banking offering will also enable HBL to add, replace or combine components, systems and connectors, as per requirement.
HBL president and CEO Muhammad Aurangzeb said: “The open technology platform provided by Temenos is flexible, global-ready and has the breadth of banking services to meet our clients’ fast-developing banking needs.
“This partnership contributes to our goal to become a ‘Technology company with a banking licence.”
Temenos CEO Max Chuard said: “HBL is a forward-looking bank with a pioneering approach to shaping the future of banking.
“Temenos open platform for composable banking will free the bank from legacy constraints. To innovate safely at speed, as well as scale its offering and achieve its growth goals.”
Last year, Pakistani digital bank UBL selected Temenos Infinity platform to improve online offering and customer experience.