Lahore, January 03, 2022 (PPI-OT): The Punjab Provincial Cooperative Bank Limited (PPCBL), a renowned cooperative bank in Pakistan, has signed an agreement with AutoSoft Dynamics (Pvt.) Limited (AutoSoft), a global core banking and financial services applications provider, for Core Banking and Compliance Management Systems to centralize and automate its business operations.
The bank has decided to centralize its operations across its widely spread 151 branches, in line with industry 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 the 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.
Tahir Yaqoob Bhatti, CEO of PPCBL, remarked, “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.”
“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,” he added.
Sadia Khan, CEO of AutoSoft Dynamics, commented on this achievement, “AutoSoft is honoured 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 the 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,” she added.
For more information, contact:
Head Office,
The Punjab Provincial Cooperative Bank Limited (PPCBL)
Bank Square, Mall Road, Lahore, Pakistan
Phone: +92-42-99211432-36
UAN: +92-42-111-772-250
Fax: +92-42-99211442
Email: ask.us@ppcbl.com.pk
Website: https://www.ppcbl.com.pk/Index.html