SBP to Upgrade Its Core Banking System

State Bank of Pakistan is upgrading its core banking system from Globus to T24R15 by Temenos.

The Temenos core banking platform has been the best-selling solution on the market for 15 years, used by over 600 financial institutions. It has had a number of users in Pakistan (for T24) including Soneri Bank, NIB Bank, Samba Bank and etc.

It combines rich functionality with cutting-edge technology in an easily upgradable application. Its customers benefit from real-time embedded analytics, a sophisticated product builder and technology that allows for easy integration and infinite scalability, in turn enabling them to significantly outperform their peers.

The system will provide automation services required by the SBP to discharge its role as banker to the Government and other banks/financial institutions. The system upgrade will provide software enhancements in the form of improved quality, security, reliability, performance as well as newer features and functionalities.

Although, every effort has been made to ensure seamless transition to the upgraded system, inconvenience due to any unexpected event may not be completely ruled out.

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