Soneri bank, Covalent alliance paves way for technological transformation


Soneri Bank with its recent strategic alliances with Covalent, a joint venture of Access Group and TPS, brings together the combined expertise of all the companies on one common platform, with mutual goals for successful digital transformation.

With this collaboration with Covalent and Soneri Bank would experience enhance customer experience, efficient launching of new products and services, easier integration with other systems and easy access to data and information.

“In our mission to provide innovative and efficient financial solutions to our customers and in regulation with the State Bank of Pakistan’s payment cards upgrades, Soneri Bank has embraced digital transformation,” said Chief Operating Officer Soneri Bank Amin A Feerasta

As part of the agreement, Covalent would setup an EMV compliant card management system to power Soneri Bank EMV Debit MasterCard programme. This would provide Soneri Bank to a world of possibilities and with IRIS at the core, newer initiatives like EMV acquiring, card less withdrawal and prepaid card issuing would be future initiatives.

“We conducted an extensive review of several alternatives and determined that Covalent is suitable for us,” states Soneri Bank Chief Operating Officer. “Covalent wants us to innovate with their state-of-the-art IRIS platform and services. With common goals we will successfully optimise our service delivery,” he added.

“Having a progressive technology business partner is crucial for banks in this technological era because it ultimately influences our customer service experience,” said Soneri Bank CIO Ahmed Saqib Asad. “We believe Covalent would empower us with innovative technology to drive a more rewarding customer relationship and greater service efficiency,” he added.

“Being able to identify with Soneri Bank’s technology requirements and innovate accordingly was a way forward to a sustainable and mutually beneficial business relationship.

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