2017 Winner Profile

Al Meezan Investment Management Limited

Project Description:
To mitigate the concerns of investors who were unable to immediately liquidate their investments in mutual funds, Al Meezan Investment Management Ltd., Pakistan's largest private sector asset management company, has launched Meezan Easy Cash (MEC). This service now allows investors to liquidate up to 80 percent of their investments in Meezan funds within 30 minutes. The normal redemption period in the mutual fund industry in Pakistan is more than a day. Al Meezan began developing its "instant redemption facility" in 2016, completing it in six months. Investors can access the MEC service via the web or mobile app (iOS and Android). The service is integrated with Al Meezan's core business application Temenos T24, and a banking payment system. The IBM Integration Bus is the middleware that securely integrates front-end applications with backend systems. The MEC service also helps to increase paperless transactions, reducing the costs associated with the conventional paper-based system and is also environmentally friendly.
Business Functions:
Customer Service or Support, Marketing, Sales
Business Goal:
Competitive Advantage, Customer Experience, Operational Impact, Strategic Impact
Syed Khurram Ali Naqvi, SVP-IT Division (Head-IT)
Mohammad Shoaib, CEO
Karachi, Pakistan
Financial Services (e.g. Banking, broker and Dealers, Exchanges)
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