CHENNAI, India, October 4, 2011 /PRNewswire/ --
- Polaris to Power the Bank's Transformational Initiative towards Financial Inclusion
Polaris Software (POLS.BO), a leading global Financial Technology Company, today announced that Vietnam Bank of Social Policies (VBSP) has chosen Polaris' Intellect[TM] Global Universal Banking M180 (GUB) to centralise its operations across the bank. Polaris will offer the bank its Intellect Core and Lending Modules, enabling them to handle traditional banking products in an integrated and efficient manner. VBSP will replace its legacy system and leverage Intellect offerings for its ambitious growth plans.
Intellect GUB M180 is an end-to-end SOA based Core Banking solution with multi-currency, multi-branch and multi-banking capabilities to transform banking across all 64 branches of the bank. The implementation will help the bank switch from its manual operations to an automated process. Its functionality will give the bank a global view of customer accounts and relationships, with up-to-date information on accounts and transactions.
The new Core Banking System will enable VBSP to enjoy fully centralized data across the bank, providing consolidated and comprehensive information to help attain a universal view of the bank. VBSP opted for Intellect GUB as its high level fitment would help the bank achieve its long term goal of establishing rural leadership. The solution will allow the bank to streamline its various processes with modern technology, resulting in productive gains within the bank.
Talking about the deal, Ms. Ha Thi Hanh, CEO, VBSP, said, "We are a state owned bank, taking lead in the policy and microfinance field in Vietnam. Operating as a tool of the Vietnamese Government, we fight against poverty, enabling financial inclusion of the poor and policy beneficiaries. VBSP will leverage from the vast experience of Polaris because of its rich and extensive domain knowledge in an internationally competitive environment. The implementation of Polaris' Intellect GUB will help in our transformation towards effective operations and financial self sustainability."
Mr. Supriyo Sircar, Head-Asia Pacific, Polaris Software said, "We are proud that VBSP chose Intellect GUB M180 amongst other competitors in the industry. Intellect GUB is a seamlessly integrated platform covering core banking, lending, trade, treasury and internet banking to manage the complete life cycle of banking operations with much ease and comfort. The system would offer VBSP the flexibility required to support the banks aggressive growth plans."
Contact: Dwaipayan Deb
SOURCE Polaris Financial Technology