New core banking network deployed

The State Bank of Pakistan has put a Cisco-built technology platform into operation at its Karachi headquarters, The Express Tribune reported. US Charge d'Affaires Natalie Baker attended a ceremony on Friday with SBP Governor Jameel Ahmad and Cisco Pakistan executives to mark completion of the multimillion-dollar initiative.

The installation combines a redesigned central banking network with a software-managed data centre, intended to strengthen security and keep digital banking services dependable nationwide. The project also required a complicated migration and engineering effort, which Cisco Pakistan Country General Manager Kashif Ul-Haque and Ahmad said was carried out without interrupting the SBP's operations. Baker linked secure technology to financial-system resilience and referred to the infrastructure as important to economic stability and public trust.