MUSLIM COMMERICAL BANK ANNOUNCES COMMENCING LIVE OPERATION ON SYMBOLS

Muslim Commercial Bank (MCB), Pakistan, one of the largest private bank in Pakistan and System Access, Singapore, a leading global universal banking solutions provider are pleased to announce that MCB has commenced live operations on SYMBOLS, the System Access banking solution.

As a result of the strategic partnership between MCB and System Access, MCB initially introduced ‘MCB Virtual Banking’ in June 2004, the first-ever comprehensive Internet Banking System in Pakistan. With a continuing business focus on Corporate, Commercial and Consumer Banking segments, MCB has commenced a phase implementation rollout of SYMBOLS to their present network of over 900 branches with several branches now already live on SYMBOLS.

SYMBOLS is currently processing over the counter transactions as well as transactions from multiple delivery channels (Internet Banking, ATM, POS, Call centre and Mobile Banking) and also the transactions for other ‘non-SYMBOLS’ branches to the banks legacy system. With the next phase of the project, SYMBOLS will be replacing all of MCB’s branch legacy core systems as well as being deployed as the strategic core banking operations platform for MCB.

"This is the start of a long journey for MCB. Having acquired a proven and scalable system that addresses customer centricity and speed-to-market for new products and services, this successful "Go-live" implementation in several branches augurs well for our plans to roll out SYMBOLS to all of our 900+ strong branches within the expected timeframe." Commented Mr. Ali Munir, Senior Executive Vice President, MCB.

"System Access reiterates our commitment to the MCB project with this success. SYMBOLS is amongst the rare few new generation banking solutions with a proven track record of scaling to a branch network size of more than a thousand branches. We know what direction MCB is driving towards and we know how to get MCB there with SYMBOLS." Says Mr Aravinth Kumarasamy, Senior Vice President, System Access.

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