Dubai Islamic Bank Pakistan (DIB Pakistan) and Systems Limited have announced the signing of an agreement for the implementation of a new Core Banking System (CBS), marking a major step in the bank’s technology modernization strategy. Under the agreement, DIB Pakistan will migrate its existing core banking platform from Oracle Flexcube to Temenos Transact, a cloud-native banking platform developed by Temenos, with Systems Limited serving as the implementation partner for the transformation project.
The core banking modernization program represents a significant milestone in DIB Pakistan’s efforts to strengthen its digital banking infrastructure and improve service delivery capabilities. By adopting Temenos Transact, the bank aims to build a more flexible, scalable, and technology-driven banking environment that can support evolving customer expectations and future growth requirements. Systems Limited will lead the implementation process by leveraging its banking technology expertise, end-to-end transformation capabilities, and specialised accelerators, including its Country Model Bank framework.
Muhammad Ali Gulfaraz, Chief Executive Officer of DIB Pakistan, said the bank aims to use advanced technology solutions to provide customers with faster, more convenient, and effective financial services. He stated that the partnership with Systems Limited represents an important step in DIB Pakistan’s journey to leverage Temenos’ technology capabilities and create a modern banking experience.
He further added that the core banking transformation will help DIB Pakistan establish a digital-first banking foundation supported by advanced technology, strong compliance capabilities, and the scalability required to support the bank’s long-term growth plans. The migration to Temenos Transact is expected to improve operational efficiency, enhance customer experiences, and provide greater flexibility in developing new financial products and services.
Santhosh Rao, Managing Director for Middle East and Africa at Temenos, said the company is pleased to continue its relationship with DIB Pakistan and support the bank’s core banking modernization initiative. He highlighted that Temenos’ cloud-native and composable banking platform is used by financial institutions across the Middle East and Africa to improve speed, security, and efficiency in delivering banking services.
Asif Peer, Group Chief Executive Officer and Managing Director of Systems Limited, said core banking transformation serves as the foundation for a financial institution’s digital future and requires strong technical expertise and implementation capabilities. He stated that Systems Limited’s experience, combined with Temenos’ technology platform, will support DIB Pakistan in achieving a successful transformation while strengthening regulatory compliance and customer service capabilities.
Ammara Masood, Global General Manager of Banking and Financial Services Industry at Systems Limited, said the company is focused on bringing its banking domain expertise and Country Model Accelerator to support the implementation. She highlighted that Systems Limited has experience delivering complex core banking transformations for financial institutions globally and aims to establish a strong technology foundation for DIB Pakistan’s future growth.
Syed Farhan Ahmed, Chief Operating Officer of DIB Pakistan, described the transformation as a defining moment for the bank, stating that Temenos Transact Core will provide the operational foundation required to improve processes, strengthen customer experiences, and support future expansion. He added that Systems Limited’s role in implementation will help ensure efficient execution of the transformation program.
Imran Ali Khan Soomro, Chief Information Officer of DIB Pakistan, said Temenos is a global leader in core banking systems and that the implementation will help accelerate the bank’s digital and artificial intelligence ambitions. He noted that the project will enable DIB Pakistan to build a future-ready banking platform capable of supporting new opportunities and technological advancements.
William Moroney, Chief Revenue Officer at Temenos, said the core banking modernization is expected to provide operational and strategic benefits by accelerating digital transformation, improving product development capabilities, and enabling greater scalability. He added that through API-first architecture and migration to Temenos Transact Core, DIB Pakistan will gain enhanced flexibility, security, efficiency, and regulatory support.
The collaboration between DIB Pakistan, Systems Limited, and Temenos highlights the growing adoption of advanced core banking technologies within Pakistan’s financial sector. The modernization initiative is expected to strengthen the bank’s digital infrastructure and support its efforts to deliver improved banking services through a more agile and technology-focused platform.
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