KARACHI, July 21: United Bank Limited (UBL), an innovator and technology leader in the banking industry, is poised to upgrade its transaction switch (ATMs and Alternate Distribution Channels) and branch core banking systems.

TPS Pakistan (Pvt.) Ltd has been associated with the bank for over a decade, providing the support for ATM, POS, and ADC (Alternate Distribution Channel) related transactions. TPS has now upgraded their applications into a Banking Application Suite styled as IRIS using state of the art technology. With this new expertise in place, UBL will have better control of various applications and ATM/financial transactions running through them. Going forward, it will also help UBL in launching new IRIS based products in a much shorter span of time.

UBL is also upgrading its existing in-house developed branch banking software with Core Banking System (CBS), a product of SunGard. Being a centralized and customer based system, it will provide 360 view of customers and integrated retail and corporate banking modules, thus ensuring better control for the bank and refined services for customers.

Expressing his confidence in the system upgrade Mr. Mohammad Sohail, CEO, TPS Pakistan (Pvt.) Ltd stated: "UBL and TPS have progressively achieved success in using technology to offer superior customer service over the years and the new transaction switch is a crowning achievement."

Mr. David Hamilton, President Global Banking SunGard, in his message said that "the goal for the new core banking system is to help the bank [UBL] achieve greater customer satisfaction, increase employee and customer productivity and enable innovative and rapid product launches that meet rapidly evolving customer needs."

Elaborating on the purpose of the system upgrade Dr. Khalid Aslam, Head Project Genesis, said: "The implementation of CBS across the bank is aimed at transforming UBL into a bank deeply embedded in technology, serving customers for savings and transactional needs on the one side and corporate consumer lending on the other… a bank with an evolved culture, fulfilling customers’ dreams and providing experiences rather than simple products and services."