Islamabad, 29 March 2023 (TDI): NdcTech has successfully overhauled the core banking system of Samba Bank on to the latest release of Temenos Transact.

NdcTech is a premium technology services firm transforming banks and financial institutions globally.

Samba Bank Limited is a subordinate company of Saudi National Bank (SNB). It offers personal and corporate banking services in terms of current and savings accounts, loan investments, and several other digital services.

The bank has a substantial customer base and a network of branches across 14 major cities in Pakistan.

For many years, Samba Bank has enriched a long-term partnership with NdcTech and Temenos to deliver its goal of hyper-scaling the bank’s presence through means of digitization instead of traditional channels.

The was a need for the bank to upgrade to a modern, flexible, and climbable core banking system to achieve its business growth objectives.

The latest release of Temenos Transact is an important stage for the bank to systematize its IT infrastructure and accelerate digitization.

The overhauled banking system includes a modular and scale-able platform by Temenos Application Programming Interface (API). The API-driven interface enables the fulfillment of complex banking needs and financial institutions.

The transformation of the bank is premised on a unique implementation methodology of NdcTech embracing innovative tools and techniques.

The upgraded modules of Samba bank include Core, Retail, Lending, Deposits, FCM, and Trade finance to the latest release of Temenos Transact.

NdcTech merged the use of an updated version of the Pakistan Model Bank to meet local regulatory requirements, update tax changes, and modernize trade processes for the bank.

It further incorporated an Image-Based Cheque clearing system and low balance alert system. The addition of new elements enabled banks to benefit from the modern functionalities for seamless banking operations.

Samba bank is now fully equipped to benefit from the dynamic and efficient platform to achieve its long-term growth.

So far, the bank has gained tremendous product agility, time to value, and accelerated speed of innovation in making banking decisions promptly.

The new banking interface has enabled faster transaction processing times and reduced operational costs. It has also enhanced efficiency and allowed the development of new products rapidly.

The bank can respond to changing market dynamics and competitiveness in the banking industry owing to its flexibility.

Ahmad Tariq Azam, President & CEO (Acting), Samba Bank Limited said: “Working closely with NdcTech and Temenos over the years has enabled us to drive digital change and future-proof the ongoing growth of Samba Bank.”

He further added that Samba Bank is now at the forefront of the capability to deliver innovative and state-of-the-art financial services to its customers.

Samba Bank envisions innovation in its processes and offers to be at par with the evolving digitization of the banking industry.

The CEO of NdcTech, Ammara Masood also expressed his gratitude for collaborating with the Samba management and teams.

She stated that: “NdcTech has been a trusted partner of Samba for almost a decade, and we take pride in consistently delivering value that has helped the bank achieve its digital vision and drive business growth.”

To sum up, NdcTech has an established track record of successfully upgrading banking models using a unique methodology and automated tools.

The company has vast capabilities to build a future-ready bank, meriting it as an ideal partner for banks just like Samba Financial.