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Ripple-Friendly Temenos Partners with Fastest-Growing Digital Bank in Pakistan to Build Next-Gen Banking Solution

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Thu, 07/01/2021 - 10:21
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Yuri Molchan
Ripple customer Temenos has inked a partnership with Pakistan’s UBL to help it implement an improved digital banking platform
Ripple-Friendly Temenos Partners with Fastest-Growing Digital Bank in Pakistan to Build Next-Gen Banking Solution
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Ripple client Temenos has tweeted that it is now collaborating with the Pakistani digital bank UBL, the fastest growing one in the country, and National Data Consultant.

Together they will build and implement a digital banking platform with a completely new level of customer experience for UBL – from deposits to digital servicing.

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Temenos to help UBL hyper-scale its digital footprint in banking

UBL has inked a cooperation agreement with Temenos and National Data Consultant (NdsTech). According to the press-release, the bank was the first institution in Pakistan to introduce innovations in the banking sphere for its clients.

It was the first to integrate the first Islamic Digital Account in Pakistan and “UBL Pay” service which was the first in the industry as well. The latter helps clients to utilize their phones as debit cards.

Now, thanks to the help from Temenos and NdcTech, UBL will be able to digitize all of its products, which includes retail, SME, corporate sector both in the local and overseas markets.

Temenos' contribution is intended to help UBL greatly increase the scale of its digital footprint and give its customers a brand new banking platform that would improve the whole cycle of the customer experience – onboarding, funds depositing, loans, etc. All of it – in the digital format.

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Temenos to involve its top cloud product with UBL

To achieve this purpose, Temenos will use its Infinity cloud-native tool, which provides analytics, AI-based scoring models and can easily scale.

Banks benefit from using it by enlarging acquisition of clients and bringing down the time necessary for customers to onboard.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.