CHENNAI, INDIA, February 17, 2012
/24-7PressRelease/ -- Polaris Financial Technology Ltd. (POLS.BO), a leading global Financial Technology Company today announced that Saigon Hanoi Bank (SHB), one of the leading private sector banks in Vietnam and Winner of the Asian Banker Award 2011 for 'Best Core Banking Implementation for Small-Sized Banks', has once again chosen Polaris' IntellectTM Global Universal Banking (GUB) suite for the launch of its operations in Cambodia.
The banking industry in Cambodia is emerging, providing the banks a tremendous business opportunity to capture the market. By starting operations in Cambodia, SHB is expanding its business beyond Vietnam for the first time. Intellect with its rich features and flexibility would enable SHB to establish its footprint beyond Vietnam helping it become an International bank.
From the Intellect Global Universal Banking suite, the bank chose Intellect Core Banking Solution, Intellect Lending, Intellect Trade Finance and Intellect Treasury functionalities to support the banks operations in the respective areas. The bank was able to aggressively grow in Vietnam after the successful implementation of Intellect Global Universal Banking in August 2010 and thus hopes to derive similar benefits from Intellect for its operations in Cambodia.
Speaking on the occasion, Mr. Nguyen Van Le, CEO, Saigon Hanoi Bank said, "Intellect offers functional rich capabilities that would enable SHB to handle traditional banking products in a more integrated and efficient manner across the enterprise. It would also give the bank a global view of customer accounts and relationships, and provide updated information on accounts and transactions. From an operations standpoint, Intellect would enable the bank to move from a time intensive operation where data was input manually, to one that automates various functions and operational requirements. Streamlining the business workflow - from front-end teller operations to the back office - would result in productivity gains within the bank. The solution would also provide the bank with the flexibility and robust scalability that it requires to support its aggressive growth plans."
Mr. Supriyo Sircar, Head - Asia Pacific, Polaris Financial Technology Ltd. said, "This installation would enable Polaris to expand its footprint to a new country. We stand committed to Vietnam and the surrounding countries to deliver added value to our customers. We have established a solid partner and sales network in Vietnam and we feel delighted to be a partner of SHB in their growth journey."
Intellect Core Banking Solution, a complete banking system addressing the needs of the banking industry combines cutting edge technology with an easily deployable architecture to cater to the industry's diverse requirements. It offers a very flexible and comprehensive product setup module for Transactionary Products like Current Account and Savings Account, allowing the bank to setup products in various flavors.
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.
Intellect Trade solution is a web-based workflow driven trade finance platform for processing a comprehensive range of trade finance instruments.
Intellect Treasury meets the banks treasury requirements in the areas of fixed income, forex, money markets, derivatives and risk management, enabling treasury to cover different time zones and centralize operations and financial reporting to ensure economies of scale and availability of holistic management information.
About Saigon Hanoi Bank
Saigon - Hanoi Commercial Joint Stock Bank (SHB), formally known as Nhon Ai Rural Joint Stock Bank, was formed in 1993 and now is a leading commercial bank in Vietnam with more than 60 offices nationwide. SHB has served more than 1.5 million customers with approximately 1 million individuals and 700 corporate customers. SHB has increased its chartered capital of 2000 billion since 2007. In terms of operation, SHB business processes are transparent, sustainable and well established. SHB has set up a well-structured capital plan and strong financing resources which are available to meet current and future capital needs. In addition, the bank's prudent credit culture, appropriate policies and credit procedures have brought about the sound management of assets and prospectives of growing its loan portfolios.
SHB has achieved better and better profitability year by year. More over SHB always fulfills over its financial targets. After more than 18 years of establishment, development and growth, SHB continuously makes its efforts to bring to its loyal clients banking services with best quality and with the most professional manner. Having a desire to become one of the leading commercial banks in Vietnam and to reach the targets of becoming a modern multi-functional retail bank by 2012 and a strong financial holding group by 2015, SHB is committed to provide its customers, shareholders and partners with the best quality and services. For more information, please visit
http://www.shb.com.vn/.
About Polaris Financial Technology Ltd.
Polaris Financial Technology Ltd (formerly known as Polaris Software Lab Ltd.) (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 12,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, Intellect GUB M180. Intellect is the first pure play SOA based application suite for Retail, Corporate, Investment banking and Insurance.
Polaris is headquartered in Chennai and has offices in all global financial hubs including Bangalore, Belfast, Chennai, Chicago, Dubai, Dublin, Frankfurt, Hong Kong, Ho Chi Minh City, Hyderabad, Illinois, Kuala Lumpur, London, Madrid, Manama, Melbourne, Mississuaga, Mumbai, Neuchatel, New Delhi, New Jersey, Paris, Pittsburgh, Pune, Riyadh, Santiago, San Francisco, Seoul, Shanghai, Singapore, St. Germain En Laye, Sydney, Thane, Tokyo, Toronto, Utrecht, Victoria and Wicklow. For more information, please visit
http://www.polarisFT.com/.
For Media related info, please contact:
Dwaipayan Deb
Polaris Financial Technology Ltd.
Mob: +91 99625 36442
Email:
dwaipayan.d@polarisFT.com
For Investor related info, please contact:
G. Sunanthy Devi
Polaris Financial Technology Ltd.
Mob: +91 8939933564
Email:
sunanthy.g@polarisFT.com---
Press release service and press release distribution provided by http://www.24-7pressrelease.com# # #
Press Release Keywords:- polaris financial technology, polaris software, saigon hanoi bank (shb), cambodia, intellect global universal banking (gub), vietnam, core banking solution, lending, trade finance, treasury, supriyo sircar, nguyen van le
Read more Press Releases from Dwaipayan Deb:
