PTCL & NdcTech Collaborate for Banking Cloud Set Up within Pakistan

Islamabad: Pakistan Telecommunication Company Limited (PTCL), signed a Memorandum of Understanding (MoU) with NdcTech; an award winning partner of Temenos, world’s #1 Banking Software, to create an in-country banking cloud platform by offering value added services for Temenos Software over PTCL cloud.

The partnership agreement was signed in Karachi by Adil Rashid, Chief Business Services Officer, PTCL and Ammara Masood, CEO & President, NDCTECH.

On the occasion, Farooq Ahmed Jalali, Executive Vice President Digital Services Sales – PTCL, Nabeel Amjad, General Manager Business Applications – PTCL, Behram Ahmed, Chairman – NdcTech, Navaid Kareem, EVP Sales – NdcTech and Jean-Paul Mergeai, Regional Managing Director – Temenos Middle East and Africa were also present. On the occasion, Farooq Ahmed Jalali, Executive Vice President, Digital Services Sales, PTCL, Nabeel Amjad, General Manager, Business Applications, Behram Ahmed, Chairman – NdcTech ; Navaid Kareem EVP, NdcTech and Temenos Regional Managing Director Jean Paul Mergeai were also present.

Following this understanding, NdcTech and PTCL shall jointly host Temenos Software for clients wanting to use Test & Development value added services on PTCL Cloud . The companies will also embark on a joint advocating effort for the creation of a local banking cloud setup in the country for Production and DR in the future.

On the occasion, Adil Rashid, Chief Business Services Officer, PTCL, said, “Owing to the recent data leakages in the financial sector, the need for an in-country cloud based hosting solution for Financial sector has increased many folds. With this agreement, PTCL & NdcTech shall jointly help to create a safer and more secure data storage & processing environment for financial data within the country.

This initiative shall serve to reduce costs for the fintechs; as well as create a safe and secure cloud based hosting solution for the Pakistani financial industry, previously restricted to keep transactional data on-premises only.

Temenos core banking platform has been the best-selling solution in the global market for 15 years, used by more than 700 financial institutions. Over 3,000 firms across the globe, including 41 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers.

Ammara Masood, CEO and President, NdcTech, said, “Our expertise across retail banking, corporate & Investment banking, regulatory risk and compliance, mobile banking, channels, payments, lending and mortgages address transformational changes for our customers. PTCL and NdcTech collaboration and our solution on Pakistan based cloud offering will enable our customers to build a bankable future”

Cloud is vital for the public and private sectors to transform customer experience, drive business innovation and raise productivity to the next level.

About PTCL:  Pakistan Telecommunication Company Limited (PTCL) is the largest integrated Information Communication Technology (ICT) Company of Pakistan. With a humble start from a telephone and telegraph department in 1947, it has evolved to offer latest digital and telecommunication technologies today. It acts as the communication backbone for the country with the largest fiber cable network that spans from Khyber to Karachi and submarine cables connecting Pakistan to the world. PTCL has been assigned initial long term entity rating of ‘AAA’ (Triple A) and short term rating of ‘A-1+’ (A-One Plus). For more information, visit www.ptcl.com.pk.

About NdcTech: NdcTech is an award winning partner of Temenos (the worlds #1 Banking Software) providing unmatched services and innovations to financial institutes and banks. The company delivers transformational services including Consulting on best practices, Implementation, Upgrade, Support and Training of Temenos and other Partner solutions. NdcTech collaborates with customers in Pakistan & MEA to enhance their digital capabilities and solves their toughest challenges by driving innovations to create new products and business models. Their expertise and experience is in the areas of Conventional Banking, Islamic Banking, Central Banking, Microfinance Banking, Investment Banking and Non-Banking Financial Institutes. http://www.ndctech.net