(Bloomberg) — Pakistan’s largest lender, Habib Bank Ltd., will adopt a new platform after months of customer complaints about frequent outages.
The Karachi-based lender will onboard its more than 25 million clients onto the Temenos core banking platform, HBL said in a statement Friday, citing increased reliability and security as benefits. HBL had announced a new Chief Technology Officer Michael Maier in January.
Local media has reported technical glitches since last year that impacted the bank’s website and mobile app, making it impossible to complete transactions including withdrawals and transfers. The decision also follows an increasing focus on online services; the nation’s banking regulator is looking to increase competition by giving licenses for digital banks, governor Reza Baqir said last year.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
