U Microfinance Bank in treasury tech revamp with Autosoft Dynamics
The new solution will automate the bank’s money market operations and provide real-time exposure monitoring for users.
Muhammad Shakir Hussain, head of treasury at U Microfinance Bank, says the bank reviewed a range of offerings from various vendors, but “were convinced by the value addition and reliability offered by the Adams treasury solution, Autosoft’s strong market repute for on time, in budget delivery and positive feedback from its existing users”.
Adams will be integrated with U Microfinance Bank’s core banking platform, Pibas Core, provided by another tech vendor, Pibas, FinTech Futures understands.
U Microfinance Bank is a subsidiary of domestic telco Pakistan Telecommunication Company Limited (PTCL), which in turn is a subsidiary of the UAE’s telco giant Etisalat. PTCL acquired Rozgar Microfinance Bank and rebranded it in 2013.
U Microfinance Bank has a network of 75 touch points, across 70 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposit products and branchless banking solutions.
U Microfinance Bank’s branchless banking offers services under the U Paisa brand in collaboration with Ufone (Pak Telecom Mobile Limited, PTML).
The bank states it is “proud to be at the front line of fighting poverty in Pakistan and is dedicated to play its critical part in the implementation of National Financial Inclusion Strategy 2020 that aims to bring 50% of Pakistan’s adult population into banking”.