Pakistan’s Faysal Bank Adopts SunGard’s Ambient Core Banking System
SunGard said that Faysal Bank, a leading Pakistani bank engaged in corporate, commercial, retail and Islamic banking activities, has implemented its Ambit Core Banking solution to help drive operational and cost efficiencies, optimise profitability and support future growth.
Following its acquisition of Royal Bank of Scotland’s (RBS) Pakistan operations in June 2010, Faysal Bank needed to upgrade its core banking infrastructure to support its growing network of more than 265 branches and the bank’s future expansion plans.
An Ambit Core Banking user since 2004, Faysal Bank opted to migrate the acquired operations on to SunGard’s solution and upgrade its entire core banking infrastructure to the latest release of the platform. The latest release offers the bank functionality to support its five year growth strategy and has helped it replace 19 systems for improved efficiency, lower cost and reduced risk.
“The enhancements to the latest version of Ambit Core Banking have helped us to build sub modules in the system to reduce the number of interfacing applications,” said Naved A Khan, president and chief executive (CEO), Faysal Bank. “This has been integral to helping us simplify and streamline our operations for improved performance.”
“With external drivers of change continuing to place higher demands on banks globally, renovation of core banking systems is becoming a pre-requisite to future profitability strategies,” added Jochen Schneider, chief operating officer (COO), SunGard’s retail banking business.