The Bank of Khyber (BoK) and Sidat Hyder Morshed Associates (SHMA) have entered into an agreement to implement bank essentials core banking system across the entire bank. The agreement was signed by Feisal Khan, Divisional Head IT BoK and Arshad Hussain, Director SHMA on behalf of their respective institutions at the signing ceremony held at BoK Head office Peshawar.
The new system will be implemented for both Islamic and conventional branches as well as in the treasury of the Bank. It will be a fully centralised system with full disaster recovery back up. It is envisaged that the new system will greatly enhance the BoK's operational capabilities in terms of regulatory reporting, risk management and most importantly, its ability to efficiently service its rapidly growing customer base.
The management of the BoK is committed to rapidly cover the technological gap and join the mainstream banking and financial sector and has played a significant role in IT infrastructure upgradation. The core banking system will also enable the bank to enlarge the range of its services to growing customers throughout the country by introducing innovative schemes and various initiatives.-PR
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