The Asian Banker Wednesday, 17 July 2024

United Bank goes live on Temenos to power digital corporate lending

5 min read

Temenos announced that United Bank Limited (UBL), one of the largest banks in Pakistan with 11 million customers, has gone live with corporate lending on Temenos' digital banking platform.

This is part of a comprehensive digital transformation of the bank’s retail, small and medium-sized enterprise (SME) and corporate banking for domestic and international customers on the Temenos platform.

The Temenos Corporate Loan Origination solution, implemented with NdcTech, will help UBL to meet the growing demand for digital customer experiences and win business with corporate clients in a highly competitive lending market that has seen demand slowed by global economic conditions and rising interest rates.

Temenos’ solution systematises the process of loan initiation, credit approval management, credit policy, limit monitoring, credit documentation management, risk rating, collateral management and post-approval activities and transactions.

With these banking capabilities integrated into Temenos digital banking platform, UBL can provide a smooth and seamless digital experience while enabling the bank’s corporate lending teams to access the right data at the right time to make quick, consistent and cost-effective credit decisions.

This go-live covers loan originations to five segments, including large conventional banking corporates and group companies, Islamic banking corporates, agri-enterprises, financial institutions and SMEs.

A pioneer in digital banking, UBL is working with Temenos and NdcTech to further leverage the Temenos platform to provide an integrated, digital experience for all retail and corporate customers, covering the entire customer lifecycle from onboarding and origination to servicing.

Offering composable banking services – built on microservices and accessible via APIs – the Temenos platform will enable UBL to quickly develop new products at lower risk and cost that bring real benefits to customers.

Muhammad Faisal Anwar, chief information officer of UBL, commented: “We are delighted to go live with corporate lending on Temenos digital banking platform. The solution enables us to elevate the digital experience for corporate customers and achieve operational excellence, helping us to increase customer satisfaction and drive revenue growth. We look forward to building on this success and our close partnership with Temenos and NdcTech.”

William Moroney, managing director of Middle East and Africa, Temenos, said: “Congratulations to UBL on this successful go-live. This well-executed implementation will transform the lending experience for UBL’s corporate customers. UBL has a clear vision for the future of banking with digital-first customer experiences. We look forward to building on this success across the bank’s domestic and international business.”

Ammara Masood, CEO and president of NdcTech, added: “We are proud to celebrate this important milestone with UBL in Pakistan. Going live with Temenos’ loan origination solution is a great leap forward in UBL’s digital banking transformation that will give the bank an edge in the corporate market. It also sets a high bar as we continue to partner with them to leverage the composable banking capabilities of the Temenos platform.”

With clients such as Allied Irish Bank in Ireland, Commerce Bank in the USA, and Al Rajhi in Saudi Arabia, corporate banking is a key area of investment.

Re-disseminated by The Asian Banker

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