Misys Banking Systems, a global leader in banking software and solutions, has announced that its core banking system, Misys Equation, is to be implemented by KASB Bank to help it grow its retail banking business and further enhance customer relationships.

In order to maintain its competitive edge, KASB Bank needed to enhance the range of products and services it provided its customers in Pakistan.  The executive team at the bank decided to replace the current 10-year old system, which was no longer able to cater for the increasing consumer demands.

From a shortlist of three, including Temenos and Systems Access, Misys Equation was chosen to provide KASB Bank with a centralised core banking system to improve the performance of the bank and enhance customer interactions. Misys Banking Systems was chosen for its proven technology, rapid implementation successes and the expert knowledge of the banking industry in the region, claims the firm.

“Our existing distributed environment was reaching the end of its natural life,” comments Mahmood Siddique, CIO of KASB Bank. “We have 35 branches across the network at present and customer data is held at the nearest branch to the customer. We were unable to have a consolidated view of our interactions with our customers and we had to make it easier for them to bank with us from any branch or via the internet, ATM or telephone. We are going to increase the number of branches to 50 in the next year and Misys Equation is the solution that can help us achieve this.”