Pakistan’s Premier Banking Institution continues its trust in Codebase Technologies, a Global Open API Banking solutions provider with its Digital Transformation Agenda.
Islamic banking industry in Pakistan has witnessed an impressive growth recently with its assets reaching 12.9% of banking sector and deposits accounting for 14.8% of the total banking industry deposits. With the Islamic sector growing rapidly, more banking organizations require a robust and digital alternative to manage integrity within their profit distribution and management services.
A provider of Open API Banking software with a global footprint, Codebase Technologies’s comprehensive digital banking suite, Digibanc™, supports financial institutions with their initiatives for Digital Transformation. DigibancTM PoolSmart, is a comprehensive profit distribution and management solution that allows institutions to manage multi-currency and segment pools whilst enabling real time Sharia’a compliant depositor rate calculations. The solution complies with all the local and international Sharia’a and regulatory standards.
The Upgrade will allow the bank to develop better deposit products and have greater insights into their customer portfolio. The new version of DigibancTM PoolSmart brings a modern technology stack coupled with highly customizable data driven models.
Codebase Technologies’ Managing Partner, Raheel Iqbal, commented, “This is an exciting and bold initiative that promises to set an industry standard for Islamic banking in the country, allowing Islamic banks to have a deeper visibility into their asset/liability and depositor profile.”
National Bank of Pakistan’s officials commented, “Having a robust solution with the ability to manage profit distribution on a real time basis which adheres to Sharia’a and local state bank requirements will help our Islamic Banking Division to be more transparent to our customers. We have placed our trust in Codebase Technologies for over 10 years for providing us with their innovative Sharia’a compliant solutions as we work together in delivering customer centric digital propositions at National Bank of Pakistan.”
Let’s block ads! (Why?)
HOHHOT, CHINA - Media OutReach Newswire - 23 December 2024 - China's National Forestry and…
HONG KONG SAR - EQS Newswire - 23 December 2024 - Novautek Autonomous Driving Limited…
JAKARTA, INDONESIA - Media OutReach Newswire - 23 December 2024 - V-GREEN and PT Xanh…
Increase in opportunities predicted for high-speed optical transceivers and miniaturized connectivity solutions to address data-intensive…
HONG KONG SAR - Media OutReach Newswire - 23 December 2024 - DYXnet, a wholly-owned…
CAIRO, EGYPT - Media OutReach Newswire - 23 December 2024 - Eand, Novo Nordisk, BSH,…