Meezan Bank selects BenchMatrix’s RiskNucleus® to automate financing origination and approval framework across 500+ branches

Press release

Published April 5th, 2017 - 08:59 GMT

Chief Risk Officer Syed Tariq Hassan, Chief Information Officer Faiz Ur-Rehman, CEO – BenchMatrix (signatory) Irfan Fazli, CEO President - Meezan Bank (signatory) Irfan Siddiqui and Chairman BenchMatrix Kamran Shahzad

Meezan Bank, Pakistan’s first and largest Islamic bank has selected BenchMatrix Solutions W.L.L., an advisory services and software solutions provider, headquartered in Bahrain with representative offices in Pkaistan and Canada, for implementation of its state-of-the-art Financing Origination System (FOS). The application, namely, Risk Nucleus® Financing Origination System, shall automate the end-to-end cycle of financial request review and will be implemented at Meezan Bank’s 571 branches across Pakistan.

Implementation of this automated work-flow-based system will accelerate Meezan Bank’s financing approval process by digitizing the currently used manual system and allow the Bank to go paperless. It will also improve process efficiency levels by providing the Bank with more system-based controls and reducing the overall time it takes for taking a decision on a financing request.

Background Information

Meezan Bank

Meezan Bank, Pakistan’s best bank and the first and largest Islamic bank, is a publicly listed company with a paid-up capital of Rs. 10 billion. It is one of the fastest growing financial institutions in the banking sector of the country. With its Vision of establishing ‘Islamic banking as banking of first choice.’ – the Bank commenced operations in 2002, after being issued the first-ever Islamic commercial banking licence by the State Bank of Pakistan.

Company Profile

BenchMatrix

BenchMatrix is a leading advisory services and automated GRC solutions provider with a focus on developing practical and customized approaches to risk management for organizations. Our team has several full cycle implementation experiences in multinational organizations with success stories in Bahrain, Qatar, Saudi Arabia, UAE, Kuwait, France, Canada and Pakistan.