GRAND-LANCY, (Switzerland) and COPENHAGEN, (Denmark): The Habib Bank Limited has implemented Temenos Core Banking in its first phase covering a total of 200 branches in Pakistan, and according to the bank, the program is considered one of the biggest banking modernization efforts in the region. The HBL Temenos Core Banking project involves the Conventional and Islamic Banking functions, which is the first phase in migrating customers’ accounts to the Temenos Core Banking platform from the bank’s old system. In the long run, the entire branch network of HBL, amounting to over 40 million accounts with 20 million transactions daily, will migrate to Temenos Core Banking.
The magnitude of what HBL is trying to accomplish makes this a huge core banking system replacement effort in South Asian banking industry history. The effort to replace the very infrastructure on which a bank that has more than 40 million accounts is operating while maintaining its functionality without any interruption in service is something that few regional banking IT projects have been able to achieve.
System Limited provides HBL Temenos core banking on hybrid cloud architecture
The System Limited has successfully implemented the HBL Temenos core banking solution by leveraging the use of the Country Model Bank accelerator approach. The Country Model Bank approach is a deployment methodology that helps reduce the time taken for an implementation since it uses ready-made banking solutions that fit into the market’s requirements without having to create them from scratch. The deployment is made possible through hybrid cloud architecture built using the services of Red Hat OpenShift.
The Temenos platform integrates Temenos Core with Temenos Data Hub into one system, enabling HBL to analyze and manage risks through real-time access to data along with transaction processing capabilities required for managing their daily transactions. Modern technology facilitates faster product releases, increases efficiency, and replaces the legacy systems that had made it difficult for HBL to act swiftly on market conditions.
HBL Temenos core banking to serve 40 million accounts and 20 million transactions per day
The complete rollout of the HBL Temenos core banking solution will involve the entire branch network of HBL in Pakistan, which is one of the most widespread financial distribution networks in the country, and will convert 40 million customer accounts to the Temenos solution. The system can process about 20 million transactions daily when fully operational.
The president and CEO of HBL, Muhammad Nassir Salim, said that the use of HBL Temenos Core Banking System will be an important milestone in the evolution of HBL, as this project will enable HBL to be on the cutting edge of innovations and efficiencies. At the same time, he mentioned the difficulty of this project, but praised Temenos and Systems Limited for their concentration on it.
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HBL Temenos core banking and its impact on Pakistan’s banking industry
The go-live of HBL Temenos core banking not only affects HBL but also has implications for the whole banking industry. Being the biggest bank of Pakistan based on deposits and branches, any technological development adopted by HBL sets a benchmark for the whole banking industry. The successful implementation of HBL core banking shows that Pakistan’s banking industry has the ability to handle a multi-phase transformation, which is crucial for the industry considering the demands that it faces due to digitalisation in Pakistan.
In the words of William Moroney, Chief Revenue Officer at Temenos, “HBL Temenos core banking implementation is a powerful platform which gives HBL the power to offer its innovative solutions to tens of millions of customers fast and efficiently.”
