National Bank of Pakistan modernizes Pool Management with Codebase Technologies
NBP holds roughly $17.2 billion in assets, and this upgrade will allow the bank to develop better deposit products and have greater insights into their customer portfolio.
The latest version of Digibanc™ PoolSmart brings a modern technology stack coupled with highly customisation data driven models. It is a comprehensive profit distribution and management solution that allows institutions to manage multi-currency and segment pools whilst enabling real time Sharia’a compliant depositor rate calculations. The solution complies with all the local and international Sharia’a and regulatory standards.
Islamic banking industry in Pakistan has witnessed an impressive growth recently with its assets reaching 12.9% of banking sector and deposits accounting for 14.8% of the total banking industry deposits. With the Islamic sector growing rapidly, more banking organisations require a robust and digital alternative to manage integrity within their profit distribution and management services.
Codebase Technologies’ Managing Partner, Raheel Iqbal, commented, “This is an exciting and bold initiative that promises to set an industry standard for Islamic banking in the country, allowing Islamic banks to have a deeper visibility into their asset/liability and depositor profile.”
National Bank of Pakistan’s officials commented, “Having a robust solution with the ability to manage profit distribution on a real time basis which adheres to Sharia’a and local state bank requirements will help our Islamic Banking Division to be more transparent to our customers. We have placed our trust in Codebase Technologies for over 10 years for providing us with their innovative Sharia’a compliant solutions as we work together in delivering customer centric digital propositions at National Bank of Pakistan.”