Karachi, Pakistan – The State Bank of Pakistan (SBP) has announced the selection of Avanza Solutions as its strategic technology partner through a rigorous bidding process. This collaboration aims to enhance SBP’s operational efficiency and modernize its technological infrastructure, reinforcing the central bank’s commitment to delivering robust financial services.
Avanza Solutions, a recognized leader in banking technology with over 20 years of industry experience, brings its extensive expertise to this partnership. The company has a distinguished reputation for developing and implementing cutting-edge technology solutions tailored to the unique needs of the financial sector.
Under this partnership, Avanza Solutions will provide a comprehensive suite of resource augmentation services designed to streamline software development at SBP. These services will include access to specialized expertise, allowing SBP to leverage Avanza’s deep knowledge of banking technology. Additionally, the collaboration will focus on custom software development, addressing specific business requirements and overcoming unique challenges faced by the central bank.
Mr. Asim Iqbal, Chief Technology Officer at SBP, expressed confidence in the partnership, emphasizing the importance of this new contractual agreement with Avanza Solutions. “This collaboration marks a significant step forward in our mission to enhance SBP’s technological capabilities and deliver next-generation financial services,” he said.
Mr. Omer Ahmed Khan, CEO of Avanza Solutions, commented on the collaboration, stating, “We are honored to have been selected by the State Bank of Pakistan for this pivotal role. Our commitment to innovation and excellence ensures that we will deliver solutions that meet SBP’s evolving needs.”
About Avanza Solutions
Avanza Solutions is a leading provider of innovative technology solutions with over 20 years of experience in the financial services industry. The company has established itself as a pioneer in banking technology, offering a wide range of products and services that empower financial institutions to achieve operational excellence and drive digital transformation. Avanza Solutions operates across multiple regions, including the Middle East, Asia Pacific, Africa, and North America, with a strong portfolio of satisfied clients.
About State Bank of Pakistan
The State Bank of Pakistan (SBP) is the central bank of the country, responsible for regulating the monetary and credit system in Pakistan to ensure its soundness and stability. SBP plays a vital role in maintaining financial discipline, fostering economic growth, and supporting the government’s economic policies. Through this partnership with Avanza Solutions, SBP continues its commitment to advancing the nation by embracing cutting-edge technology and best practices.
This partnership represents a significant advancement in the SBP’s ongoing efforts to modernize its operations and enhance its role in the financial sector of Pakistan.
