The Bank of Punjab upgrades to take on AutoSoft Dynamics' Real Time Gross Settlement System and Islamic Treasury Solution
AutoSoft Dynamics (Pvt.) Limited (AutoSoft), a global provider of Islamic and conventional banking solutions is pleased to announce that The Bank of Punjab (BOP), one of the largest banks in Pakistan has chosen AutoSoft’s AutoRTGS and ADAMS Islamic Treasury Management System as an enhancement to the ADAMS Conventional Treasury Automation System already running at BOP for the processing of large value fund transfers between the banks.
The AutoRTGS system has been designed in line with the State Bank of Pakistan’s requirement for all banks to enable the RTGS STP system by December 31, 2016. AutoRTGS is already implemented live at one of AutoSoft’s international customers and is a real-time straight through processing application for processing of large value interbank remittance transactions in real-time. The transactions are processed and linked with the Central Bank RTGS system, which minimizes the time and systemic risks due to any manual issues. AutoRTGS provides a complete network that helps the financial institution to easily send and receive information and messages about financial transactions in a standardized, secure and in a reliable environment.
In addition to the AutoRTGS, BOP has also selected ADAMS Islamic for the automation of its Islamic treasury trading desk. The Bank of Punjab has already been using AutoSoft's Treasury Solution – ADAMS Conventional since 2010. The ADAMS Islamic system is an automated dealing, money market and securities trading solution which is Shariah compliant and will support BOP’s Islamic treasury’s automation requirements. It provides the bank with a state of the art, multi-portfolio, multi-dealing room environment supported by robust risk management, back office management, statutory and management reporting features.
ADAMS Islamic & AutoRTGS will assist The Bank of Punjab in enhancing its operational efficiency and customer services while achieving and maintaining high level of scalability, security and will ensure smooth and continuous operations across the bank's divisions.
At AutoSoft we always strive to provide user-friendly, scalable as well as functionality rich banking solutions to our clients that are well-aligned to help the customer achieve their business objectives and also stay up to date with latest technologies.ABOUT AUTOSOFT DYNAMICS PVT LTD®
AutoSoft Dynamics is a leading global solution provider of Banking, IT and ICT automated solutions for the banking and financial services industry. AutoSoft offers a range of products, solutions and consulting services that cut costs, respond rapidly to market needs, enhance customer service levels and mitigate implementation risks. AutoSoft has grown organically since inception and now house over 130 employees with offices in three major cities of Pakistan. With its vast pool of resources, having years of experience in banking automation, AutoSoft is set to provide a multitude of services to the financial services industry and has already provided both conventional and Islamic banking solutions to many prestigious banks. AutoSoft solutions are currently implemented in 21 leading institutions within Asia, the Middle East and Africa. More information about AutoSoft Dynamics (Pvt.) Limited is available at www.autosoftdynamics.comABOUT THE BANK OF PUNJAB
The Bank of Punjab (BOP) head quartered in BOP tower, Main Boulevard, Gulberg, Lahore is one of the prominent financial institution of the country with a network of 344 total branches with 37 Taqwa Islamic Banking branches in major business centres throughout the country. It is among largest commercial bank of the Country. It provides a wide range of banking services including deposit in local currency; client deposit in foreign currency; remittances; and advances to business, trade, industry and agriculture.