Pakistan-based Silkbank, which offers Islamic banking services, has selected the Temenos Infinity digital banking platform by Temenos for its retail, corporate and SME customers.
“With Temenos Infinity, we can accelerate our digital transformation initiatives and reimagine how we engage with customers digitally. For example, our retail and business customers increasingly want to do more of their banking by mobile app and internet, and expect the experience to be effortless. Whether onboarding new accounts digitally, providing an omnichannel experience, offering exceptional service, or a combination of all, Temenos Infinity makes it possible,” Javed Yousuf Edhi, CIO and group head of technology and digital innovation group at Silkbank, said.
The bank expects the new infrastructure will increase its new retail, corporate and business customers by 15% this year. It plans to migrate its complete user base of more than 350,000 customers to the new digital banking platform within four months and increase transactions through digital channels to 70% within 12 months of launch.
“COVID-19 has prompted a strong shift in the behavior of bank customers toward digital banking. While Pakistan is still heavily reliant on cash transactions, the trend indicates a promising future for digital financial services in the country,” Jean-Paul Mergeai, Temenos’s president of international sales, commented.