Pakistan-based digital bank UBL has partnered with Temenos to use the latter’s digital banking platform for the digitalisation of its banking services. Following this partnership, the process of digital transformation will be applied to the bank’s retail products, small and medium-sized enterprises (SMEs), and corporate banking solutions for domestic and international clients, all taking place on the Temenos platform.

The Temenos Corporate Loan Origination service was implemented with NdcTech and it is set to provide United Bank Limited with the needed products and tools to meet the demands, preferences, and needs of its customers, in order to improve their overall experiences. The solution provided by Temenos will also systemise the process of loan initiation, credit policy, limit monitoring, risk rating, credit documentation management, credit approval management, post-approval activities, and transactions, as well as collateral management. Following the integration of these banking capabilities into the Temenos banking platform, UBL will be able to provide its customers with a smooth and seamless digital experience.

Furthermore, it will be given the possibility to enable its bank corporate lending terms to access the right data and information at the right time, in order to make quick, safe, and cost-effective credit decisions. The composable banking products of Temenos were designed on microservices and are accessible via APIs, which will provide UBL the capability to develop new tools faster and more efficiently, at lower risks and costs. It will also be able to cover loan originations to five segments, such as SMEs, financial institutions, large conventional banking corporates and group companies, Islamic banking corporates, and agri enterprises.

Temenos’ collaborations and product launches Switzerland-based Temenos had multiple partnerships and product launches in the last couple of months, covering multiple geographies. In May 2023, the company collaborated with Amazon Web Services (AWS) to provide its core banking solutions and tools as Software-as-a-Service (SaaS) to its application integration on AWS. The deal aimed to design a comprehensive offering in order to provide banks and financial institutions with the needed products for improved agility, performance, scalability, and overall security.

Throughout the partnership, Temenos was set to give its clients more choices, as the Temenos Banking Cloud enhanced its SaaS solutions and covered a wider range of regional and governance requirements, certifications, and data standards. Earlier in the same month, Temenos and IBN partnered to offer banks the needed tools to improve their core banking modernisation with a hybrid cloud. The deal aimed to speed up the digital transformation programmes of banks and financial institutions by offering improved security services, and operational efficiency, as well as supporting the overall regulatory alignment of those institutions.

By using the hybrid strategy to distribute workloads across on-premises, private and public clouds, banks were able to take advantage of multiple cloud benefits while scaling their digital transformation. In January 2023, the company upgraded its Temenos Banking Cloud platform with an improved Banking-as-a-Service (BaaS) set of capabilities. This upgrade was designed to meet the technology needs and preferences of organisations by offering BaaS from licensed banks to specialist BaaS providers that are servicing brands or fintechs.

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