Press Release
2024
September
AutoSoft Dynamics delivering End to End Core Banking Solution to International Commercial Bank Burundi
Dubai, UAE – September 30, 2024 – AutoSoft Dynamics, a leader in banking solutions, is excited to announce a strategic partnership with International Commercial Bank Burundi. This partnership shall see the full integration of AutoSoft Dynamics’ comprehensive core banking suite, allowing the bank to streamline operations, improve customer experience, and enhance regulatory compliance.
Dato Dr. Arshad Mahmmod – Executive Chairman of ICB Banking Group, “As International Commercial Bank (ICB Banking Group) embarks on a significant new chapter with the opening of our bank in Burundi, we are excited to announce our collaboration with Autosoft. This partnership represents a pivotal moment in our commitment to enhancing our banking operations across the African continent and worldwide.
This collaboration marks a new beginning for ICB, and we look forward to a successful partnership with Autosoft that will drive growth and innovation in the banking sector, for the African continent and worldwide for years to come.”
Bilal Mahmood, Managing Director of Contour Software and CEO of AutoSoft Dynamics, shared “We are excited to partner with International Commercial Bank Burundi. This collaboration underscores our commitment to providing cutting-edge banking solutions, throughout the Middle East & Africa region. With our end-to-end core banking suite, the bank will be better equipped to streamline its operations, enhance customer experiences, and maintain robust regulatory compliance.”
Shahzad Rafique, COO of AutoSoft Dynamics, stated “This partnership is a significant achievement for both organizations. We are launching this groundbreaking collaboration with greenfield rollout in Burundi in a record time of 20 days (subject to UAT). This is just the starting point: our cutting-edge technology will soon be rolled out across all 12 ICB subsidiaries, shaping the future of global banking. We look forward to supporting their growth and success.“
July
Mobilink Bank upgrades treasury operations with AutoSoft Dynamics for enhanced efficiency
Islamabad – July 25, 2024: Pakistan’s leading digital microfinance bank, Mobilink Bank, has brought on board AutoSoft Dynamics, a renowned global provider of core banking and financial application solutions, as a strategic partner to automate their treasury operations. Under this partnership, AutoSoft will facilitate Mobilink Bank’s seamless integration with the State Bank of Pakistan’s (SBP) PRISM solution through its Real-Time Gross Settlement (RTGS) system. This integration ensures secure and instantaneous fund transfers, aligning with the Bank’s commitment to providing premium financial services.
Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and digital services to nearly 160 million customers in six dynamic markets that are home to 7% of the world’s population.
Adil Ali Abbasi, Chief Financial Officer Mobilink Bank and Bilal Mahmood, M.D. Contour Software & CEO AutoSoft Dynamics formalized the partnership in Islamabad. The signing ceremony was attended by representatives from both organizations.
Sharing his thoughts at the signing ceremony, Faisal Mahmood, Chief Information Officer, Mobilink Bank, said, “We at Mobilink Bank are continuously working on improving our customer’s experience. Partnering with industry leaders like AutoSoft Dynamics allows us to utilize cutting-edge technology and create a more agile and efficient banking system. This partnership will enable us to streamline internal processes, strengthen our operational security, and ultimately, deliver premium services to our valued customers. By prioritizing innovation, we ensure Mobilink Bank remains at the forefront of the financial landscape, consistently exceeding expectations and providing tailored financial solutions.”
Bilal Mahmood, M.D. Contour Software & CEO AutoSoft Dynamics commented on the occasion, stating, “We are delighted to welcome Mobilink Bank as our new client. With the support of our experienced team, top-tier solutions, and the best practices of our parent company Constellation Software Inc., we look forward to delivering a robust implementation for the Bank to meet both their current and future needs.”
Shahzad Rafique, COO of AutoSoft, stated, “This is the 18th strategic partnership for our Treasury Automation System (ADAMS) in Pakistan, with 20% of the country’s Money Market transactions being processed by our ADAMS Treasury System. We look forward to helping Mobilink Bank deliver its goals!”
Through this partnership, Mobilink Bank will streamline its financial operations and alleviate the burden of manual tasks, minimizing human error. The enhanced visibility and meticulous tracking will allow the bank to manage its investments effectively. The comprehensive MIS reporting will equip management with insightful data for informed decision-making. RTGS management will ensure seamless and efficient funds transfer. By spearheading this integration into its core banking system, Mobilink Bank cements its role as an industry leader, paving a path toward unparalleled digital and financial services.
2022
October
HBL Microfinance Bank (HBL MfB) selects AutoSoft’s Money Market & Securities Trading System along with RTGS System to automate their treasury operations
HBL Microfinance Bank (HBL MfB), Pakistan’s leading microfinance bank, has chosen AutoSoft Dynamics (Pvt.) Ltd. (AutoSoft), a global core banking and financial application solutions provider, for the automation of their Treasury (Money Market & Securities Trading) operations. AutoSoft will also support HBL Microfinance Bank’s integration with the State Bank of Pakistan’s PRISM solution via their RTGS system.
This initiative will provide HBL Microfinance Bank with a secure, state-of-the-art platform to improve their day-to-day operations and enhance efficiency, in line with their corporate goals.
Mr. Muhammad Amir Khan, C.E.O. & President of HBL Microfinance Bank, shared his thoughts on the occasion of the contract signing ceremony, stating that “We are committed to creating innovative financial solutions that enable our clients to improve their quality of life. We are glad to have collaborated with AutoSoft for the automation of HBL Microfinance Bank’s treasury operations and we are optimistic that this will give a solid stage for us to develop and serve our clients with increased effectiveness and efficiency.
Mr. Bilal Mahmood, M.D. Contour Software (Pvt.) Ltd. & C.E.O. of AutoSoft Dynamics, also commented on the occasion and added that, “We are delighted to welcome HBL Microfinance Bank as our first new client after our acquisition of AutoSoft Dynamics. With the aid of our experienced team, best in class solution, and parent company’s best practices, we look forward to delivering a sturdy implementation for HBL MfB, to cater to their current as well as growing needs.”
The MoU signing ceremony was held at HBL Microfinance Bank’s Head Office, at HBL Tower, Islamabad, with Mr. Muhammad Amir Khan, C.E.O. & President – HBL MfB, and Mr. Bilal Mahmood, M.D. – Contour Software (PVT.) Ltd. & C.E.O. – AutoSoft Dynamics as the signatories, in the presence of their senior management and team members.
April
Contour Software (PVT) LTD (“Contour”), an indirect subsidiary and part of the Perseus Operating Group (“Perseus”) of Constellation Software Inc. (“CSI”), together with its affiliates, has completed the acquisition of 100% of the outstanding shares of AutoSoft Dynamics (PVT) LTD., as of 15th April, 2022.
Contour Software (PVT) LTD (“Contour”), an indirect subsidiary and part of the Perseus Operating Group (“Perseus”) of Constellation Software Inc. (“CSI”), together with its affiliates, has completed the acquisition of 100% of the outstanding shares of AutoSoft Dynamics (PVT) LTD., as of 15th April, 2022.
This represents Contour’s first acquisition, and the first acquisition of a Pakistan-based software company for CSI. Contour, established in 2010, has grown from an initial 13 people to 1,350+ staff, located across Karachi, Lahore & Islamabad, and is serving the needs of nearly 200 CSI companies globally.
Bilal Mahmood, Managing Director of Contour, commented, “AutoSoft has built word-class core banking software which is competitive globally. We are very impressed by the business, founded by the Late Lutfullah Khan, one of Pakistan’s early IT pioneers.” He continued, “We are also incredibly pleased to welcome AutoSoft and its talented and dedicated staff to our group, including those who worked directly with the founder since the beginning. Given CSI’s buy-and-hold-forever philosophy, we are immensely encouraged by the long-term focus of AutoSoft’s key staff, as we look to maintain our ‘Software for Life’ promise. We look forward to investing further in the team and offering of AutoSoft, in order to continue to serve its customers better.”
“AutoSoft is a made-in-Pakistan company that has both local and global banks as its customers. Our growth has been a result of our late founder’s vision and incredibly hard work by our core team,” said Sadia Khan, who shall transition from CEO of AutoSoft to a role at Contour. “We are excited about the growth this transaction will bring our employees, our business, and our customers. We look forward to adopting the best practices of CSI, while continuing to leverage our deep industry domain knowledge and expertise,” she added.
AutoSoft (https://www.autosoftdynamics.com), founded in 2000 by Lutfullah Khan, built upon his 30+ years’ experience in global banking at the time, to develop a core banking suite of solutions, which 22 years later helps run nearly 3 dozen banks and financial institutions across Asia & Africa.
CSI (https://www.csisoftware.com) is publicly traded on the Toronto Stock Exchange (TSX:CSU), and together with its subsidiaries is an international provider of market-leading software and services to a number of industries, with the mission to acquire, manage and build market-leading software businesses that develop specialized, mission-critical software solutions to address the specific needs of particular industries. CSI and its subsidiaries have well over 25,000 employees generating in excess of $5B in global revenues, across more than 100 countries.
Perseus (https://csiperseus.com), an operating group of CSI, currently comprises over 50 companies in more than a dozen industry vertical markets around the world. Perseus entered Pakistan in 2010, with the establishment of Contour as an offshore centre to serve the staff augmentation needs of CSI companies all over the world.
2021
December
The Punjab Provincial Cooperative Bank Ltd. (PPCBL) has partnered with M/S AutoSoft Dynamics (Pvt.) Ltd. for Core Banking & Compliance Management Systems to centralize and automate its business operations
The Punjab Provincial Cooperative Bank Limited (PPCBL), a renowned cooperative bank in Pakistan has signed an agreement with AutoSoft Dynamics (Pvt.) Limited (AutoSoft), which is a global core banking and financial services applications provider. The bank has decided to centralize their operations across its widely spread 151 branches, in-line with industry standard practices and in accordance with State Bank of Pakistan’s AML / CFT guidelines. The solution selected includes the state-of-the-art Core Banking Platform “AutoBANKER Premium”, Consumer Lending System “AutoCREDIT” and Financial Monitoring and Compliance Services Solution “AutoCOMPLIANCE”.
AutoSoft’s AutoBANKER premium is a global banking system catering to the requirements of any financial institution, providing online, real-time synchronized banking business automation. AutoCREDIT Consumer Lending System provides an end-to-end solution, built on proven, configurable processes, for the management of the entire consumer credit lifecycle. AutoCOMPLIANCE – Financial Monitoring and Compliance Services System is a customer screening and transaction monitoring system. It facilitates screening of customers (individual as well as in bulk) against international and local watchlists and sanction lists including OFAC, EU, UN, NACTA, etc. and also has the provision of monitoring customer financial transactions.
By implementing AutoSoft’s tried and tested solutions coupled with their implementation expertise, PPCBL will be able to meet all the AML/CFT requirements recommended by the State Bank of Pakistan. The bank will also be equipped with latest technology platform to provide innovative products and services to its customers. This decision is in line with the bank’s strategic objective to follow a focused digital strategy that includes modernizing its software systems to facilitate its nationwide operations and customer service.
Mr. Tahir Yaqoob Bhatti, CEO of PPCBL remarked on the occasion of the contract signing ceremony, “We are delighted to join hands with AutoSoft and we believe that AutoSoft’s solutions will assist the bank, to achieve its vision to be a well-structured and efficient cooperative financial institution in Pakistan”. He further added that “We are confident that AutoSoft as a technology partner will enable us to meet our ultimate goal of providing secure and affordable financial services to all of our customers. The technology platform will help us in achieving business excellence by catering to the financial requirements of our customers by offering them innovative products and services.”
Ms. Sadia Khan, CEO of AutoSoft Dynamics, commented on this achievement, “AutoSoft is honored to partner with PPCBL to support them in their digital innovation drive. We are glad to be given the opportunity to assist the bank in automating its financial operations. We have extensive experience in data migration and system up-gradation. AutoSoft’s strong track record is attributed to the strength, diversity, and extensive experience of our teams in both Banking and IT domains. We look forward to implementing our solutions within the stipulated timelines desired by the bank and making this project a joint success for both entities.
September
Pakistan Mortgage Refinance Company Limited (PMRC) selects AutoSoft’s Credit Management Solution Suite to automate its business operations.
Pakistan Mortgage Refinance Company (PMRC), has chosen AutoSoft Dynamics (Pvt.) Limited (AutoSoft), a global core banking and financial application solution provider, for the automation of end-to-end Lending Management System for its operations in Pakistan. The solution covers the complete credit application workflow for Loan Origination, Credit Management, Credit Approvals, Risk Management, and requisite reporting.
The client selected AutoSoft after a rigorous competitive evaluation as it sought to enhance its speed to market new products and services. The project is aimed for faster and efficient credit appraisal and processing, transactions recording and monitoring, risk management, portfolio and collateral management of all credit exposures at PMRC.
AutoSoft looks forward to starting the implementation of the proposed solution that will support PMRC in its growth ambitions and vision to offer world class-leading financial services for its financial institutions.
Mr. Mudassir H. Khan (MD/CEO), of PMRC remarked on the occasion of the contract signing ceremony, “We are determined to be a leading catalyst for the development of housing finance and capital markets in Pakistan and raise the level of financial services through the provision of innovative solutions backed by AutoSoft’s time tested financial products. We are proud to have partnered with AutoSoft for its credit management suite and are optimistic that they will provide a strong platform for us to grow and serve our customers more efficiently and effectively.”
Ms. Sadia Khan, CEO of AutoSoft Dynamics, commented, “Our agreement with Pakistan Mortgage Refinance Company demonstrates our commitment to working with the region’s leading financial institutions to power innovation, growth and, success through our market-leading technology. AutoSoft’s fast-track implementation methodology should allow the company to be up and running in the shortest possible time. We believe that AutoSoft and its solution suite will assist PMRC to achieve its objective of introducing and promoting innovative and affordable financial products to promote housing finance and the capital market in the country.
2020
April
House Building Finance Company (HBFCL) Limited successfully goes live on AutoSoft’s loan management system as part of its digital transformation strategy!
AutoSoft is proud to announce the go-live of its loan management system across HBFCL’s network of 51 branches nationwide. The Loan Management System (LMS) was implemented expediently using the company’s fast track implementation methodology. House Building Finance Company Limited (HBFC) signed an agreement with AutoSoft Dynamics (Pvt.) Limited (AutoSoft), a global core banking and financial application solution provider to implement its Lending and Treasury Management Solution in August, 2019.
With plans to launch a new and innovative range of products for its customers, HBFC needed a technology partner that could help them to achieve their digital transformational objectives. During a comprehensive technical and financial evaluation consulted by KPMG, two vendors were shortlisted; AutoSoft Dynamics and NDC Tech representing Temenos in Pakistan, eventually resulting in AutoSoft being awarded the contract for the project.
AutoSoft’s Lending Management System covers an end-to-end workflow for all operations from loan origination to credit administration with support for both Islamic and conventional lending. It includes a state-of-the-art Loan Origination System, Consumer Lending, Islamic Consumer Advances, Debt Collection, Compliance, Biometric Verification, SMS Banking and MIS reporting system. ADAMS, treasury automation solution, supports wide-ranging features including real time exposure monitoring, money market operations management with an integrated real time gross settlement (RTGS) solution.
The rollout of the solution across the organization has transformed HBFC’s lending from a heavily paper based operation to a completely digitized loan cycle with a comprehensive dashboard view for HBFCL’s senior management to see exactly how many loan requests are received and processed across the organization with their turnaround time at each step along the way allowing for elimination of all bottlenecks.
Mr. Syed Basit Aly, Managing Director/CEO of House Building Finance Company remarked on the occasion, “We are delighted to have joined hands with AutoSoft as our strategic technology partner for our digital innovation strategy. AutoSoft has a reputation for providing robust, innovative financial software solutions and has an extensive presence and commitment towards Pakistan. AutoSoft’s LMS and TMS solutions will enable HBFC to transform faster, drive out operational complexities and lower our time and cost to serve new customers. We believe that with AutoSoft’s solution we will be able to quickly introduce new and innovative products while offering a cutting-edge digital experience to our customers”.
Ms. Sadia Khan, CEO of AutoSoft Dynamics, commented on this milestone saying, “AutoSoft is honored to have been selected by HBFC to support them in their digital innovation drive. We have an undisputed track record of implementing our financial solutions in unprecedented timelines, giving our customers the tools to compete in a fast changing financial industry. We are confident that the lending and treasury solutions will provide HBFC with a reliable, configurable and dynamic platform enabling them to pursue quick technology driven decisions. Both teams worked around the clock to meet aggressive timelines for implementation and we are proud to have completed the rollout of loan management system at HBFC. We look forward to supporting House Building Finance Company Limited in its technology drive making this a joint success for both entities.”
January
The Bank of Punjab selects AutoSoft to automate their HR Operations across Pakistan
The Bank of Punjab selects AutoSoft’s Human Resource Management Solution – AutoHRM, to automate their HR Operations across Pakistan. The Bank of Punjab has also been a user for the company’s Treasury & Real Time Gross Settlement Solution (RTGS) since 2011.
The software Solution will automate all workflow based HR operations starting from resume capturing till an employee’s end of service, with a key focus on requirement for banking HR needs. Its modular architecture will assist the bank in automation of its payroll, HR administration, fund management operations along with direct integration with the core banking application. The bank employee & manager self-service modules will enable the HR department to focus on strategic HR management rather than operational activities. The system comes part and parcel with SBP’s regulatory reporting for the Bank’s HR department and FBR’s tax reporting. The complete system comprises of 27 modules to cover end to end HR management activities.
Mr. Taimur Afzal, (Group Head HR, The Bank of Punjab), remarked on this partnership, “The Bank of Punjab believes in investing in technology which will allow us to effectively leverage our human capital. We are pleased to be further strengthening our business relationship with AutoSoft Dynamics who have already established themselves as a reliable partner and has deep understanding of the banking industry’s needs for business applications. We are confident that AutoHRM will meet our HR automation requirements efficiently and we look forward to expediently implementing the system using fast track implementation methodology.”
“AutoSoft is excited to be embarking on this new project with the Bank of Punjab”, commented Ms. Sadia Khan, (CEO, AutoSoft). “Our experience in providing HR automation to our banking customers will allow BOP to leverage our HR product which has been refined by working closely with our clients over the past two decades. The resultant solution will be an excellent fit to meet the automation requirements of the Bank of Punjab’s HR department. We shall look forward to making this yet another swift and successful implementation for both entities.”
2019
July
FINCA Microfinance Bank successfully goes live on AutoSoft’s Core Banking Platform as part of its digital transformation strategy!
FINCA Microfinance Bank acquired AutoSoft’s AutoBANKER Premium – Global Banking Suite in 2018 and we are proud to announce the completion its of implementation across the network of 135 branches of the bank. AutoBANKER Premium was implemented expediently using the company’s fast track implementation methodology with the first branch going live in less than 4 months. The solution includes a state of the art Core Banking Platform as well as modules for consumer financing, treasury management, fixed assets and MIS reporting.
FINCA Microfinance Bank has been using AutoSoft’s Digital and Branchless Banking Platform AutoMWALLET to power its SimSim wallet and the company’s AutoHRM – Human Resource Management System since 2015. The bank’s decision to acquire the AutoBANKER Premium core banking suite comes as an essential part of its digital transformation strategy to deliver efficiency, lower operational costs and an enhanced customer experience. The new platform will enhance performance and reduce time-to-market for new products, allowing the bank to take advantage of the reliability, flexibility and scalability that the new core banking platform offers.
Mr. Mudassar Aqil, CEO of FINCA Microfinance Bank commented on this occasion, “As a part of our digital transformation strategy, we are proud to announce that FINCA has gone live on to the next generation core banking system by AutoSoft Dynamics. We have partnered once again with AutoSoft for its core banking solution suite that will enable our customers to manage their finances conveniently and securely. We have repeatedly found AutoSoft to be a committed partner for all the technological services. Implementing AutoBANKER has helped us reach our objectives for operational efficiency and achieve our mission, fundamentally socially oriented, of contributing to social & economic and financial inclusion of micro entrepreneurs who are excluded from usual financing routes.”
Ms. Sadia Khan, CEO of AutoSoft Dynamics (Pvt.) Limited commented, “We are delighted to see FINCA Bank go live with a new state of the art core banking system. We are sure this will enable the bank to further enhance its presence in the region, by offering unrivalled financial services to its customers, customized to their individual banking requirements. Our relationship with FINCA Bank is based on close cooperation, and during this project both entities worked in a manner that bore testament to the same joint collaboration. We are proud to have completed the rollout of AutoBANKER Premium at the Bank and look forward to helping the bank in their future expansion plans”
June
National Bank of Pakistan selects AutoSoft’s Core Banking to automate the operations of its Wholesale bank branch in Manama, Bahrain.
National Bank of Pakistan (NBP) Operations has partnered with AutoSoft Dynamics (Pvt.) Limited (AutoSoft) to automate its wholesale banking branch in Manama Bahrain. NBP selected AutoSoft’s latest version AutoBANKER Premium – Global Banking System along with several other plug-ins modules to the core banking system including AutoCREDIT for Corporate Lending, ADAMS for Treasury Automation, AutoTRADE for Trade Services and AutoMIS for Management Information Reporting which are all seamlessly integrated with the core banking platform.
The procurement of these software solutions by NBP for its Bahrain operations will ensure the fulfillment of their financial automation needs while meeting business objectives. AutoSoft’s Core Banking solution suite will provide NBP Bahrain with the ability to swiftly configure new and innovative products to meet market demands. New products can easily be deployed to facilitate real-time transaction processing through various channels, giving the bank a state of the art platform enabling it with a competitive advantage in the market.
NBP Bahrain opted to deploy AutoBANKER Premium – Global Banking System suite after reviewing several reputed local and international competitor solutions. AutoSoft’s AutoBANKER Premium suite was selected after a detailed technical analysis of the solution and financial assessment of the Company and its ability to meet NBP’s wholesale banking operations requirements.
Mr. Shakeel Raza Abidi Head of IT Operations, International, representative of National Bank of Pakistan remarked, “AutoSoft brings a wealth of experience, credibility, and strategic thinking that complements our banking strategy. Their robust portfolio of flexible integrated modules guarantees a seamless user experience. Its software is purpose-built for attaining our objectives and revolutionizing our banking operations. With this new partnership, we believe our patrons will have abundant options for addressing their demands by leveraging AutoSoft’s progressive technology and invaluable expertise.”
Ms. Sadia Khan, CEO of AutoSoft Dynamics, commented on this milestone saying, “AutoSoft is honored to have been given the opportunity to implement our solution at the National Bank of Pakistan Bahrain, particularly given the intense competition in the process. Our fast track implementation methodology should allow the bank to be up and running in the shortest possible time.” She added, “While expanding our global footprint, we aim for our global users to benefit through cutting-edge banking products and services giving them agility to quickly scale and grow.”
2018
July
Allied bank, AutoSoft Dynamics and FINJA join hands to launch ABL’s Branchless Banking Solution.
Allied Bank has partnered with AutoSoft Dynamics and Finja to implement a complete branchless banking solution. This initiative marks another step in Allied Bank’s journey to provide an enriched customer experience through its digital banking ecosystem and support Pakistan’s National Financial Inclusion Strategy.
The solution will provide easy access to banking services, including instant opening of accounts anywhere, anytime with no requirement to visit a bank branch. Furthermore, this solution unleashes innovative digital financial services especially for the unbanked masses. The signing ceremony was held at Allied Bank’s Head Office and was attended by senior executives of the bank and strategic partners.
“Allied Bank has always focused on providing a unique proposition to its customers through innovative and diversified technologies, building their confidence through convenient delivery channels. The bank has always strategically supported financial inclusion of the unbanked population” said Mr. Tahir Hassan Qureshi, CEO Allied Bank. Sadia Khan, CEO AutoSoft Dynamics further commented, “We are delighted to join hands with Allied Bank for automation of their Branchless Banking platform. AutoSoft Dynamics has a successful track record of delivering innovative banking products in aggressive timelines. Our partnership with ABL further aligns with our vision to propel Pakistan’s banking industry into the digital age.”
Mr. Qasif Shahid, Co-founder and CEO Finja said on this occasion “At Finja, we are committed to building technology that adapts to customers’ lives instead of interpreting them. This is exactly why we have constructed this partnership which will allow people greater control over their everyday payments. These are exciting times for the financial services industry in Pakistan we are proud to partner with Allied Bank in this space.”
“We are excited to enter into the branchless banking arena. This will further expand Allied Bank’s product suite, allowing ease of access and usability for its customers and the unbanked community. Allied Bank is geared up to introduce new dimensions of digital banking and is progressively playing its role in the transition from conventional banking” said Mr. Sohail Aziz Awan, Chief Digital Banking on this occasion.
May
FINCA Microfinance Bank selects AutoSoft’s Core Banking to automate its banking operations.
FINCA Microfinance Bank has signed up with AutoSoft Dynamics (Pvt.) Limited (AutoSoft) to deploy the AutoBANKER Premium core banking suite. The solution includes a state of the art Core Banking Platform as well as modules for consumer financing, treasury management, fixed assets and MIS reporting. The upgrade will support FINCA Pakistan’s operations across multiple verticals.
The decision to procure AutoSoft’s Core Banking System by FINCA Pakistan for its operations is of crucial importance. It is in line with the bank’s strategic objective to follow a focused digital strategy that includes modernizing its software systems to facilitate its nationwide expansion.
FINCA chose to deploy AutoBANKER Premium – Global Banking System after evaluating eleven banking solutions from local as well as global providers, including Oracle FLEXCUBE through Techlogix, and Temenos T24 through NDC TECH. An independent risk assessment of the short-listed vendors was performed by KPMG prior to selection. AutoSoft’s system was selected based on superior financial and technical evaluations, particularly in its ability to synergize, co-exist and evolve alongside FINCA’s digital platform – SIMSIM. FINCA’s system upgrade onto AutoBANKER from BiLOGiC Systems Inc. hPLUS will provide software enhancements in the form of improved quality, reliability, performance in addition to new features.
Mr. Mudassar Aqil, CEO of FINCA Microfinance Bank commented on this occasion, “FINCA is determined to play its part to increase financial inclusion in Pakistan, leveraging the digital channel that is growing exponentially. This system upgrade will allow FINCA’s operations to become extremely nimble, and will serve as the backbone for complete automation of our branch banking services. As a result, offering tailored products and services to our customers would become easier and speedier as the system integration with the SIMSIM platform will digitize the delivery of microfinance products to our low income entrepreneurs.”
FINCA Bank has been using AutoSoft’s AutoHRM – Human Resource Management System since 2015 for the automation of its HR operations and AutoMWALLET, a complete, powerful, mobile payments and Service Delivery Platform to power its SIMSIM wallet since 2016.
“We are proud to be further strengthening our relationship with FINCA Microfinance Bank by joining hands as their core banking solution partner.” said Sadia Khan, CEO of AutoSoft. She further added, “This win is another example of how we continue to support our customers as their software requirements evolve; allowing them to pay as they grow. Both teams are determined to make this implementation another benchmark for the industry and I have no doubt that the AutoBANKER suite shall support FINCA’s business needs and accelerate their business growth enabling them to make better strategic decisions”.
April
U Microfinance Bank Limited selects AutoSoft Dynamics’ Treasury Solution for automation of its money market operations.
AutoSoft Dynamics (Pvt.) Limited is pleased to announce that U Microfinance Bank Limited (UBank) has selected AutoSoft’s ADAMS – Treasury Automation System for the automation of its treasury operations.
AutoSoft’s ADAMS – (Money Market & Security Trading System) solution is the best way to maximize productivity of treasury’s operations. The system provides users with wide-ranging features including real time exposure monitoring, support for all money market operations. Moreover, ADAMS will assist U Microfinance Bank in enhancing its operational efficiency and customer services while achieving and maintaining high level of scalability, security and will ensure smooth and continuous operations across the bank’s divisions.
On this occasion Mr. Muhammad Shakir Hussain (Head of Treasury, U Bank) commented, “We are pleased to confirm our partnership with AutoSoft for the implementation of the treasury solution. We were looking for a leading, state-of-the-art treasury solution to strengthen our position and to leverage market growth. We reviewed solutions offered by various vendors but during evaluation were convinced by the value addition and reliability offered by the ADAMS treasury solution, AutoSoft’s strong market repute for on time, in budget delivery and positive feedback from their existing users. We are confident that ADAMS will offer us a stable as well as reliable platform to support our future growth and hope that this contract will be the beginning of a long lasting strategic technology partnership with AutoSoft Dynamics.”
Ms. Sadia Khan (CEO, AutoSoft) commented, “We are excited and honored to be partnering with UBank and look forward to expediently implementing the system to allow the Bank to leverage technology to enhance the operational efficiency of its treasury operations. AutoSoft remains committed to our core objective to deliver banking products and services tailored to meet the diverse needs of our ever-growing customer base by utilizing technology to make banking faster, safer and more accessible for all of our customers.”
January
AutoSoft Dynamics is pleased to announce the successful migration of 74 Ex-Burj Bank Branches from IMAL on to AutoIBANKER system.
Al Baraka Bank (Pakistan) Limited (Al Baraka) selected AutoSoft Dynamics (Pvt.) Limited (AutoSoft) to automate 74 Bank Branches of Burj Bank Limited (BBL) upon completion of a successful merger between Al Baraka and Burj Bank.
AutoSoft and Al Baraka have enjoyed a long-standing relationship; the bank has been using AutoSoft’s end-to-end Islamic banking suite since 2006. However, AutoIBANKER is now supporting Al Baraka’s largest network of 224 branches, 208 ATM touch points with access in over 100 cities across Pakistan. AutoIBANKER is a complete Islamic product suite, which offers an integrated and comprehensive approach for banks to define and present Shariah-compliant products to customers enabling banks to offer a competitive range of Islamic financial products. Clients using AutoIBANKER for Islamic banking benefit from maintaining control over its operational costs and more focused toward better customer services.
AutoSoft has a strong implementation track record, completing complex implementations successfully and migrating full-fledged banks in seemingly impossible timeframes. Once again we are proud to share that the company has successfully migrated and implemented its vertical niche products for complete end-to-end automation at newly merged branches including its Commercial and Consumer Islamic Financing (AutoIBANKER Islamic Financing), Trade Finance (AutoTRADE), Treasury (ADAMS) and Human Capital Management (AutoHRM) systems.
On this milestone, Mr. Shafqaat Ahmed (CEO, Al Baraka Bank) commented, “We are delighted to have completed the successful implementation of AutoIBANKER at new bank branches. This new venture will let us provide our customers with the best products and services from people they know and trust and allow us as an entity to truly benefit from the synergies of the merger. We believe that AutoIBANKER will be a key factor in assisting us achieve our goals and optimize our Islamic banking services nationwide through a large financial services network”.
On the occasion, Ms. Sadia Khan (CEO, AutoSoft) commented, “We are pleased to see Al Baraka Bank go live with our state-of-the-art Islamic core banking system which now supports 225 branches of the bank. Our relationship with Al Baraka Bank is based on close cooperation, and during this project both entities worked in a manner that bore testament to the same joint collaboration. We are proud to implement AutoIBANKER at new bank branches and we look forward to helping the bank in their future expansion plans”.
2017
October
National Bank of Pakistan selects AutoSoft’s Core Banking to automate its Afghanistan Bank Operations.
National Bank of Pakistan’s Afghanistan Operations have signed up with AutoSoft Dynamics (Pvt.) Limited to deploy the AutoBANKER Core Banking suite. The solution includes state of the art Core Banking Platform as well as modules for corporate and consumer financing, trade services, treasury management solutions along with RTGS STP integration with the Afghanistan Central Bank. The solutions combined will support National Bank of Pakistan’s Afghanistan operations across multiple verticals.
Procurement of AutoSoft’s Core Banking System by NBP for its Afghanistan Branches in Kabul and Jalalabad is a pivotal decision by the bank to ensure the fulfillment of their long-term and short-term objectives. AutoSoft’s Core Banking solution will give NBP Afghanistan the ability to quickly configure new products to meet the market’s needs, reducing time to market, and facilitate performing real-time transaction processing on multiple channels giving the bank a tried and tested stable platform and competitive advantage in the market.
NBP chose to deploy AutoBANKER – Global Banking System after evaluating a number of other competitor’s offerings, including Colvir Banking Solution from Colvir Software Solution Limited (London, UK), BRCBS from Craft Silicon Ltd (Nairobi, Kenya), ICS BANKS’ from ICS Financial System Ltd (London, UK), Oracle FLEXCUBE from OraTech (Islamabad, Pakistan), and iCBS from Virmati (Ahmedabad, India).
AutoSoft’s team is currently preparing to depart to NBP Afghanistan for implementation and deployment activities. AutoSoft has a strong implementation track record, completing complex implementations successfully and migrating full-fledged banks in seemingly impossible timeframes.
AutoSoft’s team is currently preparing to depart to NBP Afghanistan for implementation and deployment activities. AutoSoft has a strong implementation track record, completing complex implementations successfully and migrating full-fledged banks in seemingly impossible timeframes. AutoSoft is determined to make this implementation another benchmark in the industry and AutoSoft’s success in NBP Afghanistan will pave the way forward in other financial institutions in the country.
Commenting on the occasion, AutoSoft CEO Ms. Sadia Khan said, “It is an honor for us to have been selected by National Bank of Pakistan’s Management for automation of its Afghanistan banking operations. We are excited at taking on our first customer in Afghanistan and look forward to its successful completion and the expansion of our presence in the country. We shall look forward to utilizing our fast track implementation methodology to help NBP Afghanistan deliver the best banking products and services to its customers in Afghanistan”.
August
AutoSoft’s RTGS STP Utility Implementation and Go-Live in five (5) major banks in Pakistan.
AutoSoft Dynamics (Pvt.) Limited is pleased to share that five major banks in Pakistan have successfully implemented AutoSoft’s RTGS STP Utility (Real-time Gross Settlement System Straight through Processing).
In order to improve efficiency and minimize errors in payment processing, State Bank of Pakistan asked the participants (financial institutions) of Pakistan Real-time Inter-bank Settlement mechanism (PRISM-RTGS) to implement Straight Through-Processing. Therefore, to ensure security in payment processing system, AutoSoft has played a vital role by providing AutoRTGS software solution & successfully implemented it with in the stipulated deadline provided by the State Bank of Pakistan.
AutoRTGS solution is currently implemented in five (5) banks in Pakistan including Al Baraka Bank (Pakistan) Limited, Sindh Bank Limited, The Bank of Punjab, Askari Bank Limited, & Telenor Microfinance Bank and in Investrust Bank Plc. Zambia. These banks are already using several AutoSoft’s products including Core Banking System.
AutoSoft’s RTGS Client is a AutoSoft’s AutoRTGS system has a sound and ubiquitous technological footing and giving the payment benefits to the banking industry. However, immediacy presents the banking industry with a significant number of expensive challenges, not the least of which is integrating new systems into legacy banking systems, particularly in terms of real-time balances, data flows and reconciliation.
AutoSoft’s RTGS Client is a real-time application interface for processing of large value interbank remittance transactions in real-time and employs Straight through Processing (STP) and can be interfaced with the Central Bank RTGS system via the Message Gateway. The RTGS System is already integrated with AutoSoft’s Core Banking System – AutoBANKER and our Treasury Automation System – ADAMS. With the help of in-house developed APIs, the RTGS system can be easily linked with any third party system for processing of remittances.
June
Commercial Bank of Djibouti successfully went live with AutoSoft’s Internet banking solution in order to provide 24/7 financial services to its customers.
AutoSoft Dynamics (Pvt.) Limited is proud to be a strategic partner for the Commercial Bank of Djibouti (CBD) since 2015. The bank recently acquired AutoSoft’s AutoWEB system to manage its corporate internet banking requirements and we are proud to announce the successful implementation of AutoWEB which was completed expediently using the company’s fast track implementation methodology.
AutoWEB will allow CBD to offer internet-banking facilities for its corporate customer base, thereby making its banking services more convenient and accessible within or outside the Republic of Djibouti. AutoWEB – Internet banking solution provides a direct bank-to-customer channel so that a bank’s customers can access up to date account information and conduct transactions through a secure medium. Customers have convenient access to view statements and conduct banking transactions online including view cleared and pending transactions, transfer funds and pay bills online.
Mr. Rajat Mittal (Chief Executive Officer, CDB), commented on this occasion, “We are determined to raise the level of services in Banking in the Republic of Djibouti by bringing change and innovation through technology, and AutoSoft’s innovative banking solutions enable us to attain our objectives. We are proud to have partnered once again with AutoSoft for its internet banking solution that will enable our customers to manage their finances conveniently and securely. We found AutoSoft to be a professional and committed partner for all the technological services and solutions provided and are confident that AutoWEB will provide a strong platform to grow and serve our customers more efficiently & effectively.â€
Ms. Sadia Khan (Chief Executive Officer, AutoSoft), commented on this occasion, “We are happy to provide our AutoWEB solution to the Commercial Bank of Djibouti. AutoSoft’s solutions allow our customers to start up with the essential modules required for their automation and enhance modules as required. When CBD requested the AutoWEB solution we were pleased to deliver it swiftly using our fast track implementation methodology. We hope this will enable the bank to further enhance its presence in the region, by offering unrivalled financial services to its customers, customized to their individual banking requirements.”
May
SimSim wallet powered by AutoMWALLET wins Seamless Asia Award.
FINCA Microfinance Bank’s SimSim Wallet received the “Seamless Banking Experience of the year†award for their digital financial services at the Seamless Awards Asia held in Singapore in April 2017. FINCA’s SimSim mobile application, is powered by AutoSoft’s AutoMWALLET – Branchless Banking Solution.
Seamless Awards Asia are the leading awards for ecommerce, payments and the retail industry in Asia. They had 12 categories of awards for excellence in ecommerce, retail and payments innovations. FINCA Pakistan was shortlisted for the Seamless Banking Experience award against ANZ Banking Group Australia.
SimSim is a Telco-agnostic digital wallet which facilitates a frictionless customer on-boarding experience, allowing a wallet to be opened in under a minute simply using one’s smartphone. The wallet is connected to all leading Pakistani banks allowing for quick loading and transfer from and to any other bank account in the country. The system processes real-time QR based payments to over 200 merchants in Pakistan, top-ups, bill payments, direct P2P transfers and much more. In addition, SimSim wallet is integrated with other 3rd party agent networks e.g. UBL Omni providing broader reach to the banks customers.
SimSim provides a complete ecosystem for its customers, which was previously missing in the industry, thus motivating its users to retain funds in their wallets by providing many compelling use-cases. AutoSoft is Pakistan’s only SAP OEM partner for their Mobility Solution (SAP Mobile Platform Consumer Edition) in Pakistan. AutoSoft is dedicated to offer its clients a best of the breed Branchless Banking ecosystem that is fully integrated with its tried and tested core banking solution and various banking plug-in’s for micro lending, savings and remittances.
FINCA has its presence in 94+ cities with 105 branches in Pakistan and by using SimSim; the bank is well positioned to extend access to financial services for the un/under-banked through its digital financial services strategy nationwide.
Congratulations to the teams of FINCA, AutoSoft and FINJA who have collaborated to bring this product to market in unprecedented timelines.
AutoSoft Wins RCCI Technology Innovation Award for its AutoRTGS Solution
AutoSoft Dynamics (Pvt.) Limited, Pakistan’s leading supplier of a complete financial automation solution, continues its winning streak for providing innovative solutions. AutoSoft was awarded the “Technology Innovation Award†for its AutoRTGS Solution at the 3rd Annual RCCI Awards in April 2017 by the Rawalpindi Chamber of Commerce (RCCI).
The AutoRTGS Utility facilitates processing of large value interbank remittance transactions in real-time. AutoRTGS’ transactions are processed and linked with SBP’s RTGS system, which minimizes the time and systemic risks due to any manual issues. AutoRTGS provides a complete platform that facilitates financial institutions to easily send and receive information and messages about financial transactions in a standardized, secure manner in a reliable environment.
AutoRTGS is already integrated with AutoSoft’s Core Banking System – AutoBANKER and its Treasury Automation System – ADAMS. With the help of in-house developed APIs, the RTGS system can also be easily linked with third party systems for processing of transactions. AutoRTGS is currently implemented at Al Baraka Bank (Pakistan) Limited, Askari Bank Limited, Sindh Bank Limited, Tameer Microfinance Bank, The Bank of Punjab, and Investrust Bank PLC, Zambia.
AutoSoft has previously received the RCCI Award in 2016 for Excellence in E-banking and for best ICT Implementation in 2015. The RCCI Award is a source of inspiration for the team and AutoSoft look forward to continuing to raise the bar with our banking automation solutions.
March
Al Baraka Bank Pakistan selects AutoSoft’s Islamic Banking System – AutoIBANKER to automate the branches of Burj Bank Limited upon successful merger between the banks
In October 2016, Al Baraka Bank (Pakistan) Limited, a subsidiary of the Bahrain-based Al Baraka Banking Group (ABG), a leading international Islamic banking group, received approval from the State Bank of Pakistan (SBP) for amalgamation of Burj Bank Limited; one of Pakistan’s five full-fledged Islamic Banks into Al Baraka.
Prior to the merger Al Baraka Bank had 150 branches which are being powered by AutoSoft Dynamics’ purpose-built Shariah compliant Islamic Banking system – AutoIBANKER since 2006. Al Baraka had also implemented a range of AutoSoft’s vertical niche products for complete end-to-end automation including its Commercial and Consumer Islamic Financing (AutoIBANKER Islamic Financing), Trade Finance (AutoTRADE), Treasury (ADAMS) and Human Capital Management (AutoHRM) systems. A comprehensive MIS system is attachable to all of these modules, which allows for both Central Bank and management reporting. Conversely, 74 branches of Burj Bank Limited had been using Path Solutions iMAL system since 2013 to support their Islamic Banking Operations.
After a lengthy evaluation process, in February 2017, AutoSoft received the final approval from Al Baraka Bank to implement its product suite in the 74 Ex-Burj Bank Limited Branches. After completion of the system integration activities, AutoIBANKER will support Al Baraka Bank (Pakistan) Limited’s diversified network of 224 branches, 208 ATM touch points with access in over 100 cities across Pakistan. AutoSoft’s team has initiated the implementation activities at Al Baraka Bank and plan to complete them expediently using its strong and mature implementation & data migration methodology.
On this milestone, Mr. Shafqaat Ahmed (CEO, Al Baraka Bank Pakistan) commented, “We are excited on the completion of this transformational merger with Burj Bank and appreciate the support provided throughout the evaluation process by both vendors. We see technology as a key enabler and have taken the strategic decision to deploy AutoSoft’s Islamic Banking System across the bank to continue to provide a platform to effectively and efficiently manage growth. The AutoIBANKER Suite enables us to provide innovative products and services to our customers in a cost effective manner. Coupled with AutoSoft’s excellent local support services, the overall solution offers an integrated technology set that will enable a straightforward implementation and a platform that Al Baraka Bank can build on for future initiatives.”
On the occasion, Ms. Sadia Khan (CEO, AutoSoft) commented, “AutoSoft is delighted to be working with Al Baraka Bank Pakistan on this significant project and is deeply honored at the opportunity to enhance our decade old partnership with the bank. We look forward to utilizing our fast track implementation methodology to migrate the Ex-Burj Bank branches and support the bank in this key M&A activity thereby allowing it to leverage the benefits of the merger in the shortest possible timeframe. We are confident that Al Baraka Bank Pakistan’s selection of AutoIBANKER will play an important role in ensuring that the bank is prepared for its future growth and expansion needs.”
January
The Bank of Khyber selects AutoSoft Dynamics’ Treasury Solution for both its conventional and Islamic trading desks along with AutoRTGS
AutoSoft Dynamics (Pvt.) Limited (AutoSoft), a global provider of Islamic and conventional banking solutions is pleased to announce that The Bank of Khyber (BOK) has selected its ADAMS – Treasury Automation System for both the banks conventional and Islamic treasuries. In addition to this, BOK has also chosen AutoRTGS, a real time gross settlement solution for processing of large value fund transfers between banks.
The ADAMS (Automatic Deal, Money Market and Securities Trading System) solution is the best way to maximize productivity of your treasury’s trading desk as well as back office operations. The system provides users with wide-ranging features including real time exposure monitoring, support for inter-branch and foreign exchange transactions, derivatives, securities, equity and shares trading as well as all money market operations. Whereas, ADAMS Islamic system is a Shariah compliant Islamic treasury management system which will support BOK’s Islamic treasury division. It provides the bank with a state of the art, multi-portfolio, multi-dealing room environment supported by robust risk management, back office management, statutory and management reporting features.
AutoRTGS has been designed in line with State Bank of Pakistan’s requirement for all banks to enable straight through processing of RTGS transactions. AutoRTGS provides a complete network that helps the financial institution to easily send and receive information and messages about financial transactions in a standardized, secure and in a reliable environment. Transactions are processed and linked with the Central Bank RTGS system, which minimizes the time and systemic risks due to any manual issues.
Mr. Masood Wahedna (Head of Treasury, The Bank of Khyber) commented, “We reviewed several solutions offered by different vendors but were convinced by the value addition and reliability offered by ADAMS. AutoSoft has an excellent reputation in Pakistan’s as well as in international market as a banking software provider, and we are confident that ADAMS both versions will provide a strong platform to grow and serve our customers more efficiently.”
Ms. Sadia Khan (CEO, AutoSoft) commented, “After the successful deployment of our Human Capital Management system at the bank, AutoSoft Dynamics is proud to be partnering once again with The Bank of Khyber for automation of its Treasury divisions. We look forward to expediently implementing our state of the art systems to allow the Bank to leverage technology to enhance the operational efficiency of its trading desks”
Askari Bank Limited Pakistan goes live on AutoSoft’s Islamic Treasury Solution & RTGS STP Utility
AutoSoft Dynamics (Pvt.) Limited is pleased to announce that Askari Bank Limited, Pakistan, a leading bank in the country, has gone live with AutoSoft’s Islamic Treasury Management System – ADAMS Islamic and RTGS STP utility (Real-time Gross Settlement System Straight Through Processing)-AutoRTGS. The bank can now easily manage and control their Islamic treasury operations using ADAMS Islamic as well as process large value funds transfers between banks using the AutoRTGS – RTGS STP Utility.
ADAMS Islamic is fully integrated with ORACLE core-banking system of Askari Bank. ADAMS Islamic system is an automated dealing, money market and securities trading solution that is fully Shariah compliant and is fully equipped to support Askari Bank’s Islamic treasury automation requirements. It provides the bank with a state of the art, multi-portfolio, multi-dealing room environment supported by robust risk management, back office management, statutory and management reporting features.
AutoRTGS is a real-time Straight Through Processing application for processing of large value interbank remittance transactions in real-time as per the policies and procedures set by the State Bank of Pakistan. AutoRTGS utility is integrated with State Bank of Pakistan’s RTGS system and can be integrated with any banking system to easily link the STP utility for processing of remittances and large value funds transfers between banks.
AutoSoft and Askari Bank have enjoyed a long-standing relationship; the bank has been using AutoSoft’s conventional treasury management system since 2002 to support their treasury-trading desk. The bank signed up for ADAMS Islamic and AutoRTGS at the end of September 2016 and within 3 months was pleased to go live with ADAMS Islamic on January 10, 2017. AutoSoft successfully implemented the AutoRTGS system within State Bank of Pakistan’s stipulated deadline of December 31, 2016. State Bank of Pakistan has now finally given Askari Bank the go ahead to go live with real-time posting in State Bank’s RTGS solution.
Mr. Nasir Zaidi (Head of Treasury Operations) commented, “As a financial institution, we are committed to continuously making essential investments in order to fulfill our existing and potential customer’s banking needs. AutoSoft’s implementation of ADAMS Islamic and AutoRTGS at Askari Bank has given us the tool and technology to do just that for our customers while, at the same time, conform to the regulations of State Bank of Pakistan.”
Ms. Sadia Khan (Chief Executive Officer, AutoSoft) commented on the occasion, “AutoSoft is delighted to have joined hands with Askari Bank for automation of their Islamic treasury operations through our ADAMS Islamic solution as well as successfully provide the bank an integrated link with State Bank’s RTGS system through our AutoRTGS STP utility. The systems will assist Askari Bank in enhancing its operational efficiency and will provide easy management and monitoring of its Islamic investments, similar to what our conventional treasury solution has done for the bank in the past.”
2016
May
The Bank of Punjab upgrades to take on AutoSoft Dynamics’ Real Time Gross Settlement System and Islamic Treasury Solution.
- AutoSoft Dynamics (Pvt.) Limited (AutoSoft), a global provider of Islamic and conventional banking solutions is pleased to announce that The Bank of Punjab (BOP), one of the largest banks in Pakistan has chosen AutoSoft’s RTGS STP Utility and ADAMS Islamic Treasury Management System as an enhancement to the ADAMS Conventional Treasury Automation System already running at BOP for the processing of large value fund transfers between the banks.The AutoRTGS system has been designed in line with the State Bank of Pakistan’s requirement for all banks to enable the RTGS STP system by December 31, 2016. AutoRTGS is already implemented live at one of AutoSoft’s international customers and is a real-time straight through processing application for processing of large value interbank remittance transactions in real-time. The transactions are processed and linked with the Central Bank RTGS system, which minimizes the time and systemic risks due to any manual issues. AutoRTGS provides a complete network that helps the financial institution to easily send and receive information and messages about financial transactions in a standardized, secure and in a reliable environment.In addition to the AutoRTGS, BOP has also selected ADAMS Islamic for the automation of its Islamic treasury trading desk. The Bank of Punjab has already been using AutoSoft’s Treasury Solution – ADAMS Conventional since 2010. The ADAMS Islamic system is an automated dealing, money market and securities trading solution which is Shariah compliant and will support BOP’s Islamic treasury’s automation requirements. It provides the bank with a state of the art, multi-portfolio, multi-dealing room environment supported by robust risk management, back office management, statutory and management reporting features.ADAMS Islamic & AutoRTGS will assist The Bank of Punjab in enhancing its operational efficiency and customer services while achieving and maintaining high level of scalability, security and will ensure smooth and continuous operations across the bank’s divisions.At AutoSoft we always strive to provide user-friendly, scalable as well as functionality rich banking solutions to our clients that are well-aligned to help the customer achieve their business objectives and also stay up to date with latest technologies.
March
AutoSoft Dynamics and FINCA Microfinance Bank join hands for implementation of AutoMWALLET – an innovative Branchless Banking solution.
- AutoSoft Dynamics (Pvt.) Limited, a leading banking automation solution provider and FINCA Microfinance Bank Limited, one of the fastest growing microfinance networks in Pakistan have signed a landmark agreement to implement AutoSoft’s AutoMWALLET Branchless Banking Solution at the bank.The strategic alliance between FINCA and AutoSoft for AutoMWALLET will offer tremendous benefits to the banked as well as to the unbanked communities. AutoMWALLET will help FINCA in expanding the bank’s network, by allowing access of financial services to people in rural as well as urban areas. It will also allow the bank to truly execute on The State Bank of Pakistan’s vision of financial inclusion.AutoSoft has developed an innovative solution which allows its customers to offer banking grade services to their clientele on the branchless banking platform in a very cost effective manner through the use of a range of comprehensive banking plug-ins. AutoMWALLET is backed by the SAP mobility platform, a complete, powerful, operator-grade Payment Processing and Service Delivery Platform. It offers support for mobile channels including SMS, USSD, mobile browser, mobile app, and works on any mobile device, on any network, with multi-lingual and multicurrency support. With the AutoMWALLET Ecosystem, the solution becomes much more powerful facilitating provision of micro-loans, saving deposits, remittances, and other banking services all while complying with The State Bank of Pakistan’s regulations.Speaking at the signing ceremony Mr. Mudassar Aqil, CEO of FINCA Microfinance commented, “We evaluated different solutions and vendors and believe that AutoSoft and their AutoMWALLET solution are an excellent fit for our requirements. We need a flexible product and an agile team who can quickly respond to our needs allowing us to ramp up our growth to become a leading player in the branchless space. AutoSoft has a strong track record for delivering its solutions in record timelines and we are excited to jointly make this yet another successful case study.”Mr. Javed Mushtaq, CEO of AutoSoft commented, “AutoSoft has always been at the forefront in introducing and providing innovative products to the financial services industry. We are delighted to have joined hands once again with FINCA Microfinance Bank, in order to provide financial services to the banks customers across Pakistan. This is another step towards financial inclusion and we look forward to working as a unified team to meet the aggressive timelines required by the bank.”AutoSoft is a global solution provider of a complete integrated and standalone banking solution which is implemented in leading financial institutions across Asia, the Middle East and Africa. In addition to this, AutoSoft is a partner with technology solution providers including SAP, Microsoft and Oracle. AutoSoft has in-depth understanding of GSM mobile operations, distribution networks (Agency Agreements) as well as banking, to fill the financial gap between banked and unbanked communities.
ABOUT FINCA MICROFINANCE BANK LIMITED
- FINCA’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. FINCA’s vision is to build a global network of sustainable and scalable social enterprises that improve lives worldwide.FINCA Microfinance Bank Ltd. is one of the newest subsidiary in the FINCA global family of companies. It is a licensed deposit-taking microfinance bank regulated by the State Bank of Pakistan. It has a growing branch network with a presence in more than 85 cities with over 1,200 employees nationwide. The bank provides a vast array of financial products and services to its valued clients.
February
Integration Testing Completed at Al Baraka Bank Pakistan Limited
- It is a pleasure to announce that AutoSoft Dynamics has successfully completed the integration testing between its core banking platform and NADRA’s Biometric Verification System at Al Baraka Pakistan Limited.The State Bank of Pakistan (SBP) had directed that the issuance of cheque book / ATM card, or any other instrument and transaction in accounts not be allowed until biometric verification of the customers has been completed and verified from National Database and Registration Authority (NADRA). SBP has set the deadline for the implementation of this circular for March 2016.AutoSoft is a technology partner for Al Baraka Bank Pakistan Limited providing the bank its core banking platform. By taking on the robust Biometric Verification System that is integrated with AutoSoft’s core banking platform and NADRA using their standard API’s, the bank can offer a seamless solution for customers opening accounts and complying with State Bank’s regulations.The bank can furthermore make use of biometric technology at the branch level for identity verification of their customers and can also subsequently be extended to allow for biometric verification for locker operations, transaction approvals, or other transactions as may be required by the bank to offer their customers enhanced security.
2015
October
AutoSoft Wins P@SHA ICT Award 2015
- AutoSoft Dynamics wins award for best Financial Industry Application for the year 2015 at P@SHA’s 12th Annual ICT Conference and Awards Ceremony. Bringing together local technology stars on a single platform, the Awards ceremony lauded innovation and excellence in the Pakistan ICT industry and recognized the efforts of outstanding achievers that have been making waves both locally and internationally.Mr. Javed Mushtaq – Chief Executive Officer (CEO) commented, “We would like to thank P@SHA for their continuous efforts in recognizing and highlighting successful innovators in Pakistan’s ICT industry. AutoSoft is Pakistan’s leading provider of a complete banking solution that has been implemented in record timelines at banks within Pakistan and internationally. Our strong implementation methodology allows us to expediently meet our customer’s requirements empowering them with solutions to help them achieve their business targets.” Mr. Mushtaq further expressed his gratitude to the panel of judges for their assessment of the AutoBANKER product and for awarding it best Financial Industry Application for 2015. AutoBANKER is recognized for its robust platform, unique functionalities and features using state of the art tools and technologies. AutoSoft believes in continual growth in a competitive market while innovating numerous financial applications that will fit into multiple business lines of an organization.
August
AutoSoft’s AutoHRM solution selected by FINCA Microfinance Bank Limited, Pakistan for automation of it’s HR operations
- AutoSoft Dynamics (Pvt.) Limited (AutoSoft) is proud to announce that it has signed an agreement with FINCA Microfinance Bank Limited (FINCA), the fastest growing microfinance bank in Pakistan, for the deployment of its Human Resource Management solution at the bank. AutoHRM was selected over other HR solutions based on its ability to meet the bank’s requirements and AutoSoft’s proven track record in expediently implementing its software solutions.Mr. Mudassar Aqil, Chief Executive Officer, FINCA Microfinance Bank Pakistan commented during the contract signing ceremony, “AutoSoft has already established itself with a strong local presence in banking automation and has an in-depth understanding of the banking industry’s needs for business applications. AutoSoft also has a strong vertical niche suite, including the comprehensive Human Resource Management System that aligns very well with our business model for human resource management. We have signed AutoSoft as our technology partner of choice in view of their business and technology expertise and superior track record. We are confident that AutoHRM will meet our HR automation requirements efficiently and look forward to working with them.”AutoHRM is a modular, flexible and user-friendly Human Resource Management Software. AutoHRM’s modular architecture will assist the bank in automation of its payroll, HR administration, recruitment, fund management operations along with direct integration with the core banking application. The complete suite consists of 16 modules to cover end to end talent management activities.Mr. Javed Mushtaq, CEO of AutoSoft commented on this occasion, “We are very excited to be partnering with FINCA Microfinance Bank for our Human Resource Management Solution. AutoSoft continues to grow by establishing strategic partnerships with our clients. Our broad experience in providing automated solutions to both financial and non-financial institutions will provide a stable platform for FINCA to build on their existing HR infrastructure while providing the necessary support for the bank to achieve its growth objectives.”
July
AutoSoft has Successfully implemented AutoFT Module at Eden Transport Company South Sudan.
- AutoSoft is proud to announce the successful implementation of AutoFT – Fund Transfer Management System at Eden Transport Company (ETC), South Sudan in a record time of one month. Eden Transport Company is a sister concern of Eden Commercial Bank (ECB) in South Sudan who have been a customer of AutoSoft’s core banking platform since 2012.AutoFT is a comprehensive Fund Transfer Management System which is part of AutoBANKER III Premium – Web Based Banking Solution. Through a unique implementation, AutoSoft has seamlessly integrated the two systems at ECB and ETC and as a result of this integration and the joint coloration of ECB and ETC, both entities can boast the ability to offer customers hassle free funds transfer anywhere within South Sudan. The two are jointly processing over 4,000 transactions on a daily basis across 24 locations in the country.On this successful implementation at ETC and the integration between the systems of ECB & ETC, Mr. Festus John, Managing Director of ECB stated:“We are glad to be a technology partner with AutoSoft who have provided us with flexible and simple solutions to launch new services for our customer base. We are really happy with AutoSoft’s Global Banking Solution – AutoBANKER which is currently implemented at ECB. Seeing how AutoBANKER assisted us in gaining a competitive edge over our competitors by automating all our business lines and technology needs, we recommended AutoSoft to ETC which is our sister concern so that they can evaluate AutoSoft’s products for their automation requirements. AutoFT – Funds Transfer Management System was the ideal solution for ETC, it fulfilled their innovation and expansion objectives. Once again, we are thankful to AutoSoft for the successful automation and will look forward to grow as a technology partner in future”.Mr. Javed Mushtaq, Chief Executive Officer (CEO) at AutoSoft said:“We would like to express our sincere gratitude for ECB’s unwavering support as well as confidence in AutoSoft product suite. At AutoSoft, we significantly value the trust that our existing and potential customers have placed with us and will continuously strive to maintain this high level of commitment to them. Most notably, AutoSoft will continue to provide innovative solutions to meet various banking or ICT solution appetites in the current ever changing financial technology era.”AutoSoft’s AutoFT is a Fund Transfer Management System catering to the requirements of any financial institution, providing online, real time synchronized business automation. The system empowers financial institutions to continuously enhance their business by leveraging agile, new generation technologies. Via its customizable parameter setup, it allows for dynamic, reliable and scalable product transformations in line with new practices and procedures. The system will allow all unit’s transfer funds with one another and handle complete reconciliation.
June
AutoSoft Celebrates 15 years of Success
- AutoSoft Dynamics’ team celebrated 15 eventful and innovative years in delivering high-performance banking automation solutions on June 01, 2015. The company was founded in June 2000 with a team of 18 colleagues and a vision to become a leading technology provider specializing in financial automation solutions. In the ensuing years AutoSoft is proud to have forged lasting relationships with customers across three continents and today houses over 130 associates. We are very proud that eight of the founding team members are part of our senior management team today.Since inception AutoSoft has grown steadily and now have offices in three major cities in Pakistan. Although AutoSoft Dynamics came into its current formal setup in June 2000, the company’s founder, Mr. Lutfullah Khan (Chairman) created a predecessor company, Automation Software Services and began work on the development of AutoBANKER I in 1992. Today AutoSoft is proud to power 22 leading financial institutions with their cutting edge solutions.On the occasion Chief Executive Officer Mr. Javed Mushtaq commented, “AutoSoft’s 15th anniversary is a tremendous milestone for the company. Over the years, we have focused on innovation, building strong partnerships with our customers and we have continuously endeavored to empower them to offer innovative financial products by leveraging technical sophistication. Today we would like to thank all of our customers and well-wishers for their continued loyalty and support over the years. At the heart of our success is a pride-worthy team who believes in making the impossible a reality and works tirelessly to deliver against the odds, solutions that benefit our customers. We are both proud and grateful for all we have achieved together and are excited to continue to jointly develop our company to provide the highest quality of service for all of our stakeholders.”
May
AutoSoft Successful Worldwide OEM partnership and SAP Partner Enablement on Mobile Platform 5.1.3
- AutoSoft Dynamics (Pvt.) Limited is pleased to announce its signing up as SAP’s only strategic OEM partner for SAP Mobile Platform 5.1.3 in Pakistan. Through this OEM partnership, AutoSoft will deliver mobile banking and payment solutions including a complete branchless banking ecosystem built around its conventional and Islamic Banking platform to provide financial services to the unbanked community around the globe.As part of its partner enablement process, AutoSoft’s team just completed a comprehensive knowledge sharing session on SAP’s latest mobile platform 5.1.3 in Dubai. The sessions were conducted by SAP’s consulting Services expert from Germany with the intent to enhance the expertise of AutoSoft team on latest SAP mobile platform.SAP’s mobile payment and mobile banking services are accompanied by web and mobile user interfaces (Smartphone Mobilizer) to cover the full customer life cycle (customer on-boarding, customer self-care, customer care) and processing of financial transactions (person-2-person, merchant payments, airtime top-up, remittance etc.).Through this platform AutoSoft will be able to provide mobile financial services through numerous channels that include consumer, administrative and agent portals, Mobile Applications (hybrid/native), USSD, SMS, POS and much more. The solution provides easy integration capabilities with different back office systems including Telco’s, remittance providers, credit card acquiring system and offers out of the box integration with AutoSoft’s Core Banking Application (CBA).This partnership will enable AutoSoft to independently package the SAP mobility platform technology with its product worldwide that will allow AutoSoft’s customers to take advantage of the combined solutions more readily due to an aggregated pool of sales resources and support to address different technology requirements and business needs.
April
Commercial Bank of Djibouti successfully implements AutoSoft’s solution within 90 days
- AutoSoft Dynamics, an industry leader in bank automation solutions, signed an agreement with Commercial Bank of Djibouti in December 2014 to provide its robust AutoBANKER software to automate their core banking operations in the Republic of Djibouti. The popular banking solution was chosen over other software solutions based on its ability to meet the banks requirements with minimal customization and the Company’s track record for expediently implementing its systems at new banks.We are proud to announce the successful implementation of AutoBANKER – Global Banking System, AutoCREDIT – Corporate Credit Management System and AutoTRADE – Trade Services System at Commercial Bank of Djibouti within just 3 months which is another achievement of AutoSoft.Mr. Rajat Mittal, Chief Executive Officer, Commercial Bank of Djibouti commented:”We are determined to compete in the African banking industry by bringing change and innovation through technology, and the AutoBANKER core banking system enables us to attain our objectives. I believe this system will also maintain our ambitious expansion plan in Africa and help us provide long-term value to the community we serve. We reviewed several solutions offered by different vendors across geographies but were convinced by the sustainability and reliability offered by AutoBANKER. AutoSoft has an excellent reputation in Pakistan’s as well as in international market as a banking software provider, and we are confident that AutoBANKER will provide a strong platform to grow and serve our customers more efficiently.”
January
AutoSoft Partnership with Investrust Bank Plc. Zambia
- AutoSoft Dynamics (Pvt.) Limited is happy to share our success story of one of our pioneering customers, Investrust Bank Plc. Zambia, that has been our customer since 1995.Investrust Bank is one of the leading financial institutions in Zambia, Africa. The Managing Director, Mr. Friday C. Ndhlovu, recently visited Pakistan for the first time in January 2015. During his ten day visit Mr. Ndhlovu met with various entrepreneurs, investors and businessmen in Lahore and he was also a guest speaker at the event “Fireside Chat: From Africa to Silicon Valley”, hosted by TiE Lahore, where he discussed possible trade and development opportunities with leading entrepreneurs.
