Bank of Khyber in new core banking system search
Bank of Khyber (BOK), a regional government-owned bank in Pakistan, has embarked on a core banking system modernisation programme.
The bank issued a request for proposal (RFP) in June, looking to “procure the services of experienced software houses, IT companies for the supply, installation, implementation and maintenance of a core banking system”.
The new solution should “provide all the necessary facilities to run the business of the bank as per best standard practice”, the bank says in the RFP document, and cover its network of 166 domestic branches (including 84 Islamic banking branches).
In the scoring process, the bank will assign 80% weighting to the technical proposal, and 20% to the financial one.
BOK’s incumbent system is Bank Essentials, provided by local vendor Sidat Hyder. Its implementation process was a lengthy one, starting in 2011 and concluding in 2016.
For treasury ops, the bank uses Adams from another local vendor Autosoft Dynamics, as well as AutoRTGS for settlement.
It is likely BOK will be evaluating Autosoft’s core banking solution, Autobanker, as well as the offerings of international vendors that are well-established in Pakistan: Temenos with T24 and Oracle FSS with Flexcube.