Misys, the application software and services company, today announced that Habib Bank has licensed Misys BankFusion Equation to reinforce its leadership in the banking industry. The system renovation will help Habib Bank to improve online banking services and serve its trade finance, treasury and retail customers more effectively.
The new BankFusion Equation core banking solution will ensure Habib Bank maintains its lead in banking in Pakistan. It will enable the bank to enhance operational efficiency and increase its ability to respond quickly to customers’ needs. The bank will be able to bring new products to market more rapidly and improve compliance with local banking policies and regulatory requirements.
Habib Bank is the largest bank in Pakistan with approximately 1,500 domestic branches and over 30 international branches in 20 countries. The bank delivers corporate, commercial and consumer banking services and was the first bank in Pakistan to centralise its technology onto a single platform to improve the service it provides to its 5 million domestic customers.
The bank has been one of Misys’ largest banking customers in the region since 2004. It has chosen to upgrade to BankFusion Equation and is implementing an integrated solution from Misys to streamline its core retail, treasury, trade finance and payment processes.
Zakir Mahmood, CEO Habib Bank, states, “The ground-breaking BankFusion solution will put Habib Bank in the lead amongst the banking industry in the region. The BankFusion technology will not only improve our operations domestically but across our global network and most importantly, it would allow us to enhance our service and customers’ experience.”
“Habib Bank has always been an innovator and a leader in the financial services sector,” adds Roy Froud, director – (MEA), Misys. “This project will demonstrate the superior ability of BankFusion to service a large-scale banking network such as Habib’s and the underlying scalability of the BankFusion platform. We are deeply committed to ensuring the bank stays at the forefront of the market and continues to reap benefits from our solutions.”