MCB Islamic Bank signs up TPS for its latest Payment Application Suite

MCB Islamic Bank Limited (MCB – IBL), a subsidiary bank setup recently in Pakistan by MCB Bank, has selected TPS latest payment application suite for multichannel service offering to its customers. MCBIBL has a clear focus on user experience and believes in digital banking to offer convenient services to its customers while ensuring security.

TPS products suite includes “IRIS” Omni-Channel Enterprise Payment Switch & Card Management, “Prism” Online Banking for Desktop & Mobile devices, “Prism Mobile Application” and “UBPS” Multi channel Billers Aggregation Platform. The suite shall allow MCBIBL customers to access their accounts and perform transactions over global network of ATMs and PoS as well as bank’s channels including Phone Banking, Internet and Mobile Banking. The selection of TPS E-Banking Suite by MCBIBL is an endorsement of trust in reliability of TPS products, continued innovation and delivery capability.

IRIS is an enterprise omnichannel payment application and card management system enabling the financial institutes to offer smooth and uniform experience to its customers across the digital channels. Being a PADSS certified and PCIDSS compliant solution from TPS, IRIS has received international accolades and customer endorsements for its reliability, flexibility, ease of use and extended parameterization.

Prism – Digital Banking Suite – is designed to offer personalized experience to users on their desktops and mobile devices. With various modules it enables banks with quick launch of new and reformed business services. MCBIBL plans to launch its mobile banking application on iOS and Android platforms.

The project is backed by an experienced team from TPS and MCBIBL which is excited to augment the Islamic banking proposition with innovative transaction banking solutions. The teams from both organizations are working to realize the challenging project ahead of timeline.

“MCB IBL wants to be a modern bank offering variety of digital channels for its customers to choose from. Focus is on user experience. I am excited to begin the journey with TPS within the MCB group. I am impressed with the innovative work that they have completed across the geographies. We hope that TPS will further help us in achieving our ambitions”

Mr. Ali Muhammad Mahoon, President MCBIBL

“This relationship starts in the year where TPS completes its 20 years of contribution in transforming the e-banking landscape of the country. I hope together we will further work closely in giving a great banking experience to MCBIBL customers.”

Mr. Shahzad Shahid, CEO TPS

[MCB Islamic Bank Limited signs up TPS for its latest Payment Application Suite]About MCBIBL
MCB Islamic Bank Limited (MIB) is a wholly owned subsidiary of MCB Bank Limited (MCB) established as a separate company in May 2014 and obtained banking license from the State Bank of Pakistan in June 2014.

MIB is currently awaiting execution of demerger petition from the Honorable Lahore High Court whereby the Islamic Banking Group (IBG) of MCB shall be demerged from MCB to MIB. MCB IBG was established as a division in Muslim Commercial Bank in 2003 and has been successfully providing Shariah compliant products and services to customers interested in Islamic Banking.

After the execution of the demerger petition by the Honorable Lahore High Court, the thirty-four (34) branches of MCB IBG shall transfer to MIB. Currently with six (6) branches, MIB is planning to have a sixty-six (66) branch network by Dec 2016.

About TPS

TPS is a leading provider of cards and payment solutions trusted by over 120 customers spread across 30+ countries including Asia and Africa with increasing footprint across other regions. Our solutions focused on mobility and reliable services enable banks, telecoms, central banks, payment processors, national switches and other institutions in their mission critical digital banking, cards and payments services.

TPS offers a combination of technical and business expertise in the area of card management, prepaid cards, multi-channel issuing and acquiring, payment processing, alternate delivery channel management, bills payment gateway and processing, remittance hub and processing, payment gateways and internet & mobile banking. From inception through design and implementation to upgrades and support, TPS stays committed to the entire project lifecycle and beyond.