MANAMA: Meezan Bank, Pakistan’s first and one of largest Islamic banks, inked an agreement with BenchMatrix Solutions for the implementation of its state-of-the-art financing origination system (FOS) across its network of branches. 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.
Meezan Bank is the 8th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 571 branches in 146 cities.
Bench Matix is an advisory services and software solutions provider, headquartered in Bahrain with representative offices in Pakistan and Canada.