KARACHI: The State Bank of Pakistan (SBP) has partnered with Systems Limited and Temenos to upgrade and modernize its Core Banking System to the latest Temenos core banking software and implementation of best-in-class Temenos Payment Hub to modernize the SBP’s Payment Infrastructure.

According to an announcement, the modernization also includes the implementation of Temenos Payment Hub, which will allow SBP to streamline real-time domestic and global payments and settlements based on the new SWIFT ISO 20022 MX message standards, enabling faster and more secure transaction processing as well as allow integration with RAAST and RTGS real-time payment systems within the ecosystem.

Systems Limited will provide comprehensive localized help desk support for all Temenos modules and interfaces, ensuring that SBP can continue to innovate and evolve alongside the changing needs of the financial industry.

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