INTELLIGENT BRANDS // Software for Business
Codebase Technologies enables
Digital Transformation at National
Bank of Pakistan
Codebase Technologies, a leading
Global Open API Banking solutions
provider at the forefront of enabling
banks and financial institutions (both
conventional and Islamic), as well as,
the emerging FinTech ecosystem to
demystify digital financial services, has
successfully upgraded the existing Pool
Management system deployed at National
Bank of Pakistan.
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 organizations require a
robust and digital alternative to manage
integrity within their profit distribution and
management services.
A provider of Open API Banking software
with a global footprint, Codebase
Technologies’s comprehensive digital
banking suite, Digibanc, supports financial
institutions with their initiatives for Digital
Transformation. DigibancTM PoolSmart,
is a comprehensive profit distribution
and management solution that allows
institutions to manage multi-currency
and segment pools while enabling real
time Sharia’a compliant depositor rate
calculations. The solution complies with all
the local and international Sharia’a and
regulatory standards.
The upgrade will allow the bank to develop
better deposit products and have greater
insights into their customer portfolio. The
new version of DigibancTM PoolSmart brings
a modern technology stack coupled with
highly customizable data driven models.
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.” •
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