Vietnam Bank ties up with Polaris to deploy Intellect Core Banking Solution

The Vietnam Bank for Social Policies (VBSP) has tied up with Polaris for Intellect Core Banking Solution (CBS) in all its 692 branches spread across Vietnam.

Intellect CBS deployed provides rich MIS reports on demand to effectively manage VBSP’s socio-policy-based Lending programmes and helps the bank monitor the operations spread across Vietnam. The solution allows the bank to efficiently evaluate the success of various socio-policy lending programmes. Intellect’s CBS has been deployed in a centralized data center in Vietnam and can be accessed by all the 692 branches across the country. The solution with shared infrastructure costs will reduce the total cost of ownership significantly.

The Intellect’s Offline system allows the bank to support operations in around 11,000 transaction points and the solution enables the seamless management of over 16 million accounts. Intellect Lending, a modular loan servicing system supports features such as centralized credit line monitoring, collateral management, repayment and automated delinquency tracking, offering a superior customer experience to businesses such as mortgage, consumer loans and commercial loans.

Jaideep Billa, CEO, Global Universal Banking, Polaris Financial Technology Ltd, said, “We are extremely happy that VBSP, a government-owned bank taking the lead in policy and microfinance, has gone live with Polaris’ Core Banking Solution across all branches in the country. Polaris’ highly scalable solution has paved the way for VBSP to not only improve their operational efficiency in bank-specific requirements that very unique, but also support all its requirements of a modern commercial bank. Our Intellect solution is a seamlessly integrated platform covering Core Banking and Lending that manage banking operations with ease and comfort. Polaris’ solution and central deployment will provide VBSP the flexibility required to support commitment to the people of Vietnam and its aggressive growth plans.”
Polaris’ Intellect Core Banking Solution, designed as a scalable and componentized SOA solution, can be implemented using the J2EE framework. Intellect CBS’ functionality covers both back-end systems, such as DDA, timed-deposits and loan systems, as well as a complete front-end system known as Intellect Front Office that includes applications for tellers, platform sales and service staff.