FLEXCUBE at NRSP Bank

TechlogixFLEXCUBE at NRSP Bank

Project details

The Microfinance industry in Pakistan has undergone a transition in the last three years. Until recently the industry was dominated by non-governmental organizations (NGOs) that were primarily dependent on low cost foreign donor funding to drive their business model. State Bank of Pakistan, the banking regulator, decided to migrate these institutions to a more sustainable footing by introducing Microfinance Banking licenses and asking the NGOs to convert to a corporate structure with the ability to raise a deposit base and get access to lower cost funds to sustain their lending operations.

NRSP, the largest microfinance NGO in Pakistan, was in the process of converting into NRSP Microfinance Bank with minority shareholding from IFC, KfW (the German Development Finance Bank) and the Acumen Fund. As part of this transition, NRSP also needed to upgrade its technology infrastructure that was not adequate for commercial banking operations.

Using a grant from the Gates Foundation, NRSP Microfinance Bank procured Oracle FLEXCUBE as its Core Banking solution and selected Techlogix as its implementation partner. This was the first implementation of a world-class core banking system in the Microfinance industry in Pakistan. Techlogix has migrated NRSP to FLEXCUBE and as of 2012, all NRSP branches are fully operational on FLEXCUBE.

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