KARACHI: The Samba Bank Pakistan, a fully-owned subsidiary of the largest bank in the Middle East (Saudi National Bank) has signed an agreement with NdcTech to modernise to the latest Temenos Core Banking Platform, a statement said on Wednesday.

This will allow the bank to rapidly launch new innovative products, streamline its banking operations, drive homeownership through growth in Naya Pakistan, foster SME development and lending, and seek to be the foremost trusted partner for top-tier corporates and institutions, it added.

The Samba Bank envisions hyper-scale its presence through digitalisation rather than traditional channels. This upgrade will modernise the bank’s digital core, making products and services accessible to its customers via existing and new digital channels.

NdcTech’s expertise in Pakistan Model Bank approach delivers pre-configured, localised functionality and best practices, reducing the need for customisation and decreasing timescales for delivery, enabling the bank to comply with the local regulatory requirements and best practices. This partnership will also enable the Samba Bank to establish a modern banking architecture, it said.

At the event, Shahid Sattar, CEO and president of the Samba Bank, said: “Temenos Transact provides the most extensive and richest set of banking functionalities across retail, corporate, commercial, SME, agriculture, payments and regulatory compliance. We believe this commitment with our long-term partner NdcTech to modernise the core will provide the leap forward we need to enhance our market share and deliver better services and products through multiple channels.”

Ammara Masood, CEO and president of NdcTech, said: “We are proud to build on our longstanding relationship with [the] Samba Bank across Pakistan and regionally to support their aggressive growth plans in the coming years. Through this agreement, we will be providing the upgrade expertise and local regulatory layer that will prepare the bank for the future.”

“We want to continue expanding our proven track record and enable digital transformation for banks,” she added.