- Home
- Technology
- News
- U Microfinance Bank collaborates with NdcTech and Temenos to accelerate digitalization and promote f ..
U Microfinance Bank Collaborates With NdcTech And Temenos To Accelerate Digitalization And Promote Financial Inclusion
Umer Jamshaid Published November 04, 2021 | 12:00 PM
U Microfinance Bank Ltd. (U Bank), a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) and the fastest growing Microfinance Bank in Pakistan has recently signed an agreement with NdcTech to implement Temenos Infinity Digital Banking Platform and Temenos Transact next-generation Core Banking Platform
Lahore (UrduPoint / Pakistan Point News - 4th Nov, 2021) U Microfinance Bank Ltd. (U Bank), a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) and the fastest growing Microfinance Bank in Pakistan has recently signed an agreement with NdcTech to implement Temenos Infinity Digital Banking Platform and Temenos Transact next-generation Core Banking Platform.
U Bank’s mission is to include more Pakistanis into the financial net through constant product development & innovation in microfinance sector with the aim of socioeconomic development and uplifting the national standard of living.
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, SME, housing loans, deposits, payment services, and wallet solutions.
This transformation will enable the bank to provide a superior customer experience; rapidly launch flexible and unique products as well as shorten processing times for transactions. For U Bank, offering personalization through this platform is going to be key to compete and provide more inclusivity and access to its customers.
With Temenos’ open banking platform and NdcTech’s deep implementation expertise, U Bank will be able to optimize its operations and enable the delivery of enhanced digital products with shorter timescales.
The partnership will allow U Bank to offer more accessible and lower cost financial services to the Pakistani population and promote financial inclusion.
On this occasion, Mr. Kabeer Naqvi, President & CEO of U Microfinance Bank said: “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.”
Jean-Paul Mergeai, President International Sales, Temenos, said: “We are proud that 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.”
Ammara Masood, CEO & President of NdcTech said: “We are delighted to be partnering with U Bank, an innovative and forward-thinking organization that has already made such a significant positive impact in Pakistan.
We look forward to working together to enable rapid growth for U Bank and make a real difference in the way banking services are delivered in Pakistan.”
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From Technology
-
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
2 days ago -
Pro Tips: How to Capture Stunning Portraits with the Aura Light Portrait of vivo V30 5G
4 days ago -
Itel celebrates launch of S24—a new brand identity
5 days ago -
Realme C53 Price Slash: High-Tech Meets High Style at New Low Price!
6 days ago -
Take Charge, Live Free: Empower Your Life with Infinix NOTE 40 Series
8 days ago -
PTA Undertakes Consultation with All Pakistan Network Association (APNA) on Proposed Class Value Add ..
8 days ago
-
Vivo V30 5G: The Perfect Blend of Enhanced Photography and Premium Design
9 days ago -
PITB's Regional Plan 9 invites applications for its newly launched incubation centers in Rawalpindi, ..
10 days ago -
Pakistan calls for enhanced information integrity on digital platforms
10 days ago -
Infinix NOTE 40 Series vs. the Competition: Why It Stands Out
11 days ago -
"Unlock Exceptional Value: The New realme Note 50 with Extended Warranty Now Available in Pakistan!� ..
11 days ago -
Google unveils new AI chips, arm-based processor for data centers
16 days ago