Dubai Islamic Bank Opts for TPS IRIS Omni Channel Payment Platform & Prepaid Cards Management Solution
The local banking and financial institutes are most certainly one of the fastest growing industries, with new innovations coming in and market expectations growing alongside. In order to keep up with the business transformation, Dubai Islamic Bank Pakistan has opted for IRIS Omni Channel Payment Platform and Prepaid Cards Management Solution by TPS.
TPS is leading provider of cards and payment solutions worldwide. With more than a decade of focused domain expertise, and currently empowers the e-banking infrastructure of over 120 customers across 30+ countries. TPS also runs the largest financial shared services network of Pakistan, 1Link.
Dubai Islamic Bank Pakistan is a wholly-owned subsidiary of Dubai Islamic Bank UAE (DIB), the world’s first Islamic Bank. DIBPL commenced operations in Pakistan as a scheduled Islamic Commercial Bank on March 28, 2006.
TPS’ Enterprise Payment Solution and Prepaid Cards Management Solution both come under Dubai Islamic Bank’s strategy for digitizing retail banking and the IRIS middleware will provide them a fundamentally flexible payment platform which can be easily integrated with innovative alternate delivery channels.
The prepaid cards according to TPS will serve as a solution that will help bridge the gap between formal financial services sector and the millions of underserved and unbanked citizens of Pakistan, especially when combined with services such as Business to Person (B2P) and Government to Person (G2P) payments.
Speaking on the occasion, CEO Dubai Islamic Bank Pakistan Junaid Ahmed said,
“Dubai Islamic Bank Pakistan has a structured approach towards digital technology with a clear focus on customer experience as well as on the role that has to be played together by branches and digital banking channels. We are happy to have TPS as our long-standing technology partner who have been supporting us in our digital journey and helping us keep pace with the fast changing technology.”
CEO TPS Shahid Shahzad, on the occasion said that they are delighted to provide Dubai Islamic Bank Pakistan the technological agility that is required to capture the full potential of new payment technologies. He also added,
“We are proud that our cutting edge payment solutions will become the main differentiator for the bank when it comes to improving customer experience.”
TPS will also be enabling Dubai Islamic Bank Pakistan to issue EMV Debit Cards and through the roll out of EMV cards they will enable the bank to be on par with the global Payment Card Industry standards and meet changing regulatory requirements.