TPS flagship product “Phoenix” won the prestigious P@SHA ICT award 2006 in the category of “The Best Financial Applications”. Each year P@SHA ICT awards recognize the top achievers in the industry and provide an opportunity and an ideal environment for companies to gain local, regional and international exposure. Its main objective is to promote and develop the software and services industry in Pakistan.
The primary criteria for judging a meritorious financial application was how well it addressed a real market need, its reliability and the visible effects it had on the industry at which it was targeted. “Phoenix” was judged the best financial application as it provided the basic infrastructure on which th e-Banking services grew within Pakistan on a national basis.
Being a transaction processing and switching middleware, Phoenix is used by 24 leading banks of Pakistan for their electronic banking and alternate distribution program. Beyond empowering individual financial institutions of Pakistan, Phoenix also created the required infrastructure for inter-bank ATM sharing services in the shape of Pakistan’s largest online shared financial services network called 1LINK.On the reliability side, Phoenix ranked very high as it is processing millions of transactions per month and servicing ATM requests originating at 78% of the banks in Pakistan including 1LINK.
On receiving the award at the award ceremony, Mr. Mohammad Sohail, CEO, TPS said that “TPS has completed 10 years of operations in the field of e-Banking and is proud to have created a history for itself in the corridors of Pakisan e-Banking history. Receiving P@SHA ICT award for Phoenix is an honor and a testament to the role that Phoenix and TPS played in setting the foundation of e-Banking within Pakistan”.
