The National Bank of Pakistan (NBP) was granted a license to expand its operations in Saudi Arabia by the Saudi Arabian Monetary Agency (SAMA).
NBP plans to reach out to its clientele by opening multiple branches and expanding its ATM operations, Internet banking services, and payment systems.
NBP has contracted ABANA and Compass Plus to support its expansion through the implementation of alternative delivery channels. ABANA and Compass Plus will provide NBP with an ATM switch, card management system, and Internet banking solutions on a single platform.
Dedicated for providing a fully-integrated and high performance product suite, ABANA and Compass Plus offered NBP TranzWare Online to enable secure and robust ATM switching, alongside feature-rich highly customisable TranzWare CMS, for the management of card issuance and circulation, as well as TranzWare Internet Banking, that will provide unlimited opportunities in establishing a competitive financial web service.
“We have decided to partner with ABANA and Compass Plus because of a combination of their market reputation and the single platform solution offered to us. Their application is ready to integrate with our existing systems, making the implementation cost-effective for us,” said Muhammad Imran Ahmed, head of retail banking, NBP. “We are confident that ABANA’s experience in serving the banks in the Kingdom and Compass Plus’ value-added solutions will help us realize our growth potential,” he added.
“We are delighted by the trust and confidence that NBP has given to us. We are looking forward to a long-term partnership and for ABANA to be instrumental to the growth of NBP in Saudi Arabia,” said Mr. Abdullah Bin Jebreen, president, ABANA.
ABANA (abana.com.sa) is an industry leader with over 30 years of experience in providing innovative, high performance, and value-added equipment, software solutions, and managed services to the financial and telecommunication sectors of Saudi Arabia. ABANA’s array of business solutions, along with its in-depth experience in end-to-end outsourcing projects, has gained its rank as a total service and technology provider.
ABANA belongs to the prestigious top 50 fastest growing companies in Saudi Arabia for the past two years.
About Compass Plus
Compass Plus provides comprehensive, integrated and flexible payment software and services that help financial institutions meet rapidly changing market demands. Our diverse customer base spans over 100 retail banks, processing centres, national switches and personalisation centres in 27 countries across Europe, Asia, Africa, the Middle East, North and South America. With more than fifteen years experience, Compass Plus helps build and manage electronic payment systems that generate new revenues and improve profits for its customers.
About National Bank of Pakistan
National Bank of Pakistan is the largest bank of Pakistan with total capital of US$1.496Billion (SAR5.610 Billions), total Asset base of US$12 Billions (SAR45 Billions) and earned net profit last year of US$209Millions (SAR783.750Million. NBP is among few banks of the Pakistan who are compliant with Basel-II Tier - I Capital requirement of PKR15Billion. National Bank of Pakistan is having total Domestic Branch’s network of 1289 with 23 International/Overseas Branches and representative offices in 4 countries with their 16457 dedicated and committed staffs to cater their valued customers.
National Bank of Pakistan first time contributed and established its network in Kingdom of Saudi Arabia in late 1950s which was rebranded as Bank AlJazeera in early 1960s.