Karachi, March 7, 2014: First Women Bank (Pakistan), having privilege of being first bank for women in the region, has successfully migrated its ATM switch and Card Management in-house, after staying into an outsourced setup for many years. TPS worked closely with the bank and provided both the technology as well as the technical and business consultancy, to enable seamless migration with no customer impact.
First Women Bank after evaluating various financial models found hosting ADC operations in-house as the favorable alternative. Successful migration has not only improved its products and services but also lowered the recurring costs and proved to be more reliable. In-house setup improves control over operations and quality of service; reduces time to market new initiatives, removes the risk of sharing confidential information to an external entity and facilitates enhancements of products and services as per bank’s roadmap.
The bank had earlier been connected to MNET shared switch network and had its card production and ATM acquiring outsourced. With the migration done, the bank is now connected to 1LINK, having its card production and ATM acquiring driven from Phoenix in-house and will now be able to launch various e-banking initiatives timely.
After the successful completion of initial project, which was a smooth transition from outsource to in-house model, the bank now aims to provide customers with latest e-banking services such as person to person funds transfer (both intra-bank and inter-bank), utility bills payment and access to 1Link POS network.
“We thank TPS for taking complete ownership of the project from initiation to execution. TPS has proved to be a true technology enabler for us. With more control over our e-banking services we can now launch new products within a few weeks. Implementation of various mandates and regulations from State Bank of Pakistan will now be easier and simpler than ever.” – Ms. Fauzia Sohail, Head of I.T, First Women Bank Ltd.
“We are happy that the bank compared the recurring cost with potential business growth it can achieve with the in-house setup which helped it make the decision. Now with the bank using TPS as the core payments platform, TPS is geared up to support the bank to accelerate its growth in e-banking. We congratulate the bank on successful project completion.” – Shahzad Shahid, CMO, TPS
“We are extremely pleased and congratulate FWB on their decision to come onboard the 1LINK shared network. This will open up new avenues of e-banking channels which were not previously available to FWB.”– Faisal Ejaz Khan, CEO, 1LINK (Guarantee) Limited
