JS Bank has upgraded its core banking system to Temenos T24 R14. The bank has been using T24 core banking system for nearly a decade and has successfully moved all of the operations at its head office and branches to the latest version of Temenos flagship core platform. The upgrade will enhance the technology platform in line with the bank’s focus to improve customer experience and provide a wider range of product offerings.
Commenting on the occasion, Khalid Imran, CEO JS Bank stated “Temenos Core Banking System upgrade to R14 will enable the bank to further increase its operational efficiencies and improve its compliance and risk management functions. It will also provide the Bank an advanced banking platform to position itself to launch innovative products & digital banking services for the customers”.
Imran Soomro, CIO JS Bank said “T24 R14 version offers an advanced & agile banking platform which bridges the fintech gap to offer rapid & customized services to the customer who prefers branch banking as well as the digital age customer”.
Earlier this year JS Bank opened its first branch outside Pakistan, in Bahrain. The announcement followed the awarding of a wholesale banking license to JS Bank by the Central Bank of Bahrain in 2015. The Bahraini branch is also underpinned by the T24 R14 core banking system.
Temenos, the software for banking and finance, was recently recognized as the world’s best-selling vendor of core banking software by the Annual league. The system upgrade project and the technical services were performed on behalf of Temenos by Pakistan-based National Data Consultants (NDC), the vendor’s regional partner.