KARACHI - DIB Pakistan and Systems Limited announced the signing of a Core Banking System (CBS) implementation agreement. Under this agreement, DIB Pakistan will migrate its core banking system from Oracle fFlexcube to the Temenos’ Transact cloud- native platform, with Systems Limited leading the implementation as a certified Temenos partner and trusted banking transformation specialist.
The CBS program represents a landmark milestone in DIB Pakistan's strategic journey to modernise its banking platform. By adopting Temenos, a globally trusted cloud-native banking solution, DIB Pakistan is set to fundamentally redefine how it delivers financial services to its customers. Systems Limited, leveraging its end-to-end implementation capabilities, deep domain expertise, and proven accelerators including its Country Model Bank, will serve as the execution partner responsible for translating this vision into reality and delivering the transformation at scale.
Reflecting on the significance of the transformation, Muhammad Ali Gulfaraz, CEO, DIB Pakistan, stated: “
“DIB aims to deploy cutting edge technology to enable convenient, fast and effective solutions designed to deliver an outstanding experience for our customers. By signing this partnership with Systems Limited we are taking the first big step on this journey to leverage Temenos’ market leading technology.”
The CBS transformation is a great step forward. Partnering with Systems Limited positions us to deliver a truly modern, digital-first banking experience for our customers, underpinned by Temenos technology, robust compliance, and the scalability to support our growth ambitions.”
Sharing Temenos' perspective on DIB Pakistan's modernization journey, Santhosh Rao, Managing Director, MEA, Temenos, said:
“We're delighted to build on our existing relationship with DIB Pakistan to support its core banking modernization in PakistanWe’re delighted to build on our existing relationship with DIB, one of the world’s largest Islamic financial institutions, to support its core banking modernization in Pakistan. With our cloud-native, composable platform and broad functionality, Temenos is a trusted partner to banks across the Middle East and Africa, helping them to serve their customers with greater speed, security and efficiency.”
Speaking on Systems Limited's role in the program, Asif Peer, Group CEO and MD, Systems Limited, said: “Core banking transformation is the foundational pillar upon which an institution's entire digital future is built, and it demands a partner of unrivalled technical depth and implementation discipline. Systems Limited brings both to this engagement. With Temenos’ solution as the technological cornerstone and our proven expertise as the execution engine, we are committed to delivering a transformation that will position DIB Pakistan for sustained growth, regulatory excellence, and superior customer experience”.
Offering insight into Systems Limited's Temenos capabilities, Ammara Masood, Global GM, Banking and Financial Services Industry, Systems Limited, said: “We’re pleased to partner with DIB Pakistan on this strategic core banking initiative and excited to provide our deep banking domain expertise as well as country model accelerator. The strength of Systems Limited's banking practice is built on years of delivering complex core banking transformations across leading financial institutions globally. Our commitment to DIB Pakistan is to build the foundation that will enable its future growth and innovation.”
Syed Farhan Ahmed, Chief Operating Officer, DIB Pakistan, stated; "Transforming our core banking platform is a defining moment for DIB Pakistan. Temenos Transact Core gives us the operational backbone to streamline processes, enhance customer experiences, and build the resilience needed to scale confidently. With Systems Limited at the helm of this implementation, we are well-positioned to execute this transformation efficiently and unlock the next chapter of growth for the Bank."
Highlighting the technology vision behind the transformation, Imran Ali Khan Soomro, Chief Information Officer, DIB Pakistan, said: “Temenos is a Global Leader in Core Banking Systems providing innovative solutions, and we are delighted to bring its full capabilities to DIB Pakistan. Our team is focused on delivering a robust, future-ready implementation that will accelerate the bank's digital & AI ambitions and unlock new opportunities for growth.”
Offering a broader perspective on the role of modern core banking in shaping the future of financial services, William Moroney, Chief Revenue Officer, Temenos, said:
The CBS modernisation is expected to yield significant operational and strategic advantages, enabling the bank to accelerate its digital transformation agenda, and empowering teams to expedite delivery of innovative products and services. Through an API-first architecture, and transition to Temenos TransactCore, DIB Pakistan will gain the agility to scale operations seamlessly while enhancing stability, security and, efficiency, and regulatory compliance. Together, DIB Pakistan and Systems Limited are laying the foundation for the Bank's next chapter of growth and innovation.
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