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KASB Bank goes live with Misys Equation powering expansion across Pakistan

Misys Core Banking announces today that KASB Bank has completed the implementation of Misys Equation across its operations in 12 major cities in Pakistan.

The solution, which was chosen over systems from Temenos and Systems Access, will now accelerate the growth of KASB’s retail banking business and further enhance its customer relationships across the country.

The bank’s executive team wanted to maintain its competitive edge in the market and ensure that it was using the most innovative solutions available. So it chose the Misys solution to replace the existing system, and, following a rapid implementation of less than six months, KASB Bank now provides its customers with a greater range of retail products and services – and a platform from which to launch new products quickly and effectively.

“The very fast implementation was testament both to the quality of the solution and the implementation team from Misys and KASB,” comments Muneer Kamal, President of KASB Bank Limited. “Our existing distributed environment was reaching the end of its natural life and we needed a centralised core banking system of the calibre of Equation to improve our performance and enhance the service we provide to our customers. We are aiming to grow our business ten fold over the next three years and we are delighted that our team, and the experts from Misys, have enabled us to go live so quickly.”

KASB Bank has 35 branches across the country and Misys Equation now gives the bank a consolidated view of all interactions, making it easier for our customers to bank with us from any branch or via the Internet, ATM or telephone. The plan is to increase the number of branches to 50 by the end of this year, underpinned by Misys Equation.

Misys was chosen for its proven technology, rapid implementation successes and the expert knowledge of the banking industry in the region and from the experience of working closely with other institutions, such as Habib Bank, Mybank and Union Bank.

Roy Froud, General Manager Core Banking, Middle East and Africa, Misys, states, “The very experienced team on site at KASB has accelerated this implementation. The knowledge that we have gained through hundreds of successful projects not only in the region but across the globe, has enabled us to give true value-added advice and support to the bank. We look forward to continuing to work closely alongside the bank as they expand their business rapidly and stay ahead of the market.”

Mark Yamin-Ali, core banking sales manager, Pakistan, Misys, adds, “The swift success of KASB’s project is a great example of how Misys Equation can be implemented quickly and smoothly. Pakistan is a very important market for Misys, and the success and speed of the KASB project further highlights that our solutions can provide excellent banking automation services for all sizes of banks.”

KASB Bank is building its Islamic finance services, which will be launched later in 2007. Misys will work with KASB Bank to provide this additional capability for their customers.