Meezan Bank: More Efficient, Reliable, and Secure Temenos T24 Close of Business Processing with Automic® Automation
Geography: Middle East
Industry: Banking
The eighth largest bank in Pakistan and the country’s leading Islamic bank. It provides a comprehensive range of Islamic banking products and services. Meezan Bank has a network of more than 500 branches in over 100 cities across the country.
Challenge
- Close of business (COB) process is manual and laborious
- Significant efforts required to train COB operators
- Manual reporting for COB execution timing and error history
Solution
- Centralized visibility and control of COB processing—dashboard
- Integration with Temenos T24 banking application
- Automated accounting processes, introducing error detection and alerting
Results
- Automated up to 100 daily processes
- Lowered operational costs
- Faster completion of COB workload by reducing latency and manual interventions
- Live in one week
It enables the bank to quickly and easily create, execute, and monitor COB processing. Automation ensures the bank adheres to mandates associated with data compliance. It significantly reduces the opportunity for errors and delays. And it frees up time and resources to devote to tasks that yield greater business value.
Ali Imran Khan
, Executive Vice President, Head of Branchless Banking & Digital Initiatives , Meezan Bank