MCB Bank Deploys SunGard’s Ambit in over 1,100 Branches
MCB Bank Limited, one of the leading financial institutions in Pakistan, has deployed SunGard’s Ambit Retail Banking and Ambit Islamic Banking solutions across its network of over 1,100 branches.
(Vocus) April 20, 2010
MCB Bank Limited, one of the leading financial institutions in Pakistan, has deployed SunGard’s Ambit Retail Banking and Ambit Islamic Banking solutions across its network of over 1,100 branches.
MCB Bank uses the combination of the two solutions as the core system to support its business. The Ambit Core Banking solution is an end-to-end, integrated retail banking platform that consolidates multiple applications and helps reduce IT overheads. The Ambit Islamic Banking solution helps MCB Bank support a wide range of Islamic banking contracts on a scalable, client-centric banking platform. These solutions will help the bank strengthen client relationships while increasing operational efficiency.
Atif Bajwa, president of MCB Bank, commented, “MCB is committed to its strategy of becoming the leading transactional bank in Pakistan. The deployment of SunGard’s Ambit is a major milestone in that direction. Now our customers can access their accounts from any branch among our extensive network, increasing their transactional convenience and accessibility. The deployment also equips us with tools to manage our business in an even more efficient, effective and controlled way. We appreciate the role of SunGard and its team during the roll out and look forward to their ongoing support.”
Nicholas Brewer, vice president of SunGard’s Ambit retail banking business unit, said, “The banking industry faces fierce competition. Banks must be able to offer need-based solutions faster than their peers. They must also be able to offer their clients a competitive range of banking products and alternatives across conventional and Islamic banking. SunGard’s Ambit Retail Banking and Islamic Banking solutions offer banks such as MCB Bank a combination of appropriate banking functionality coupled with scalability and efficiency.”
About MCB Bank Limited
Incorporated in 1947, MCB BANK is one of the leading banks of Pakistan with a deposit base of PKR 368 Billion and total assets over Rs.500 Billion. The Bank has a customer base of over 4 million, a nationwide distribution network of over 1,100 branches and over 450 ATMs in a market with a population of 168 million. Based on its robust financial performance, healthy capitalization, high quality assets and the country’s lowest cost deposit franchise, MCB is ranked as one of the best banks in the region.
MCB was Pakistan’s first organization to be listed on the London Stock Exchange in 2007. In 2008, Maybank, made strategic acquisition of 20% of MCB Bank Limited. Malayan Banking Berhad (Maybank) is the largest bank and financial group in Malaysia, with 374 domestic branches and 90 International branches and offices in 14 countries.
About Ambit
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle - and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks improve customer service management, streamline business processes, comply with regulations and capture growth opportunities. For more information, visit http://www. sungard. com/ambit.
About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U. S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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