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SHB, Vietnam Goes Live With Intellect™ Global Universal Banking


January 25, 2011 - Chennai, Tamil Nadu, India

Polaris Software (POLS.BO), a leading Financial Technology Company, today announced that Saigon Hanoi Bank (SHB), one of the leading commercial banks in Vietnam has completed 5 successful months post Go Live with Polaris’ Global Universal Banking (GUB) platform (Intellect™ 10.0). With this deployment, SHB had modern and state-of-the-art technology foundation that enabled the bank to diversify and launch new products, enhance customer relationship and grow rapidly.

Leveraging its path-breaking Intellect™ Accelerator Implementation Methodology (AIM), Polaris deployed a complete Universal Banking System comprising Trade Finance, Lending, Internet Banking, Core Banking and Treasury functionalities of Intellect™ 10.0 at Saigon Hanoi Bank. As part of the implementation, Polaris developed interfaces for multi channel banking viz. SMS, mobile banking, internet banking and card systems and executed the single sign-on functionality for easy access across all existing SHB portal and web services. The system has been taken live in its 90 plus branches servicing 1.5 million customers, 80000 CASA, 70000 deposits and 75000 loans. The bank is in expansion mode and the newly deployed system is enabling bank to add 6000 new deposits every month.

Speaking on the occasion Mr. Do Quang Hien, Chairman, SHB, said, “We are happy to have partnered with Polaris in our transformation journey at a point in time when the banking industry in Vietnam is getting highly competitive and efficiency driven. We are a leading commercial bank in Vietnam and have a lot to our credit, the most recent being Vietnam Excellent Brand 2009 and Best Trade Finance Provider in Vietnam 2009. To continue this growth story in the right direction, we took the decision of implementing Intellect™ GUB so that we can set new benchmarks in service as well as quality”.

Mr. Nguyen Van Le, CEO, SHB commented, “2010 was a remarkable year for both SHB and Polaris, which marked the Go Live success of Intellect™ Core Banking System in the entire business network of SHB. It was the first time when SHB ran EOY on the new Core Banking System and successfully executed it with help from Polaris onsite and offshore associates.”

Commenting on the successful run, Mr. Arun Jain, Founder, Chairman & CEO, Polaris Software, said, “We are happy and proud that SHB, Vietnam has gone live with Intellect™ GUB 10.0 platform in just 11 months and successfully completed 5 months of deployment. This is a testimony to Polaris’ impeccable delivery standards of implementing the most comprehensive and complex banking system with maximum efficiency. Intellect™ Global Universal Banking 10.0 is an ‘industrial strength’ platform that will enable SHB to offer better products & services in the market with enhanced customer experience”.

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. SHB continually and professionally delivers the best banking services to its customers. Having a desire to become one of the leading commercial banks in Vietnam, 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 Software Lab
Polaris Software Lab (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 10,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, Intellect™ Global Universal Banking (GUB) 10.0. 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 Tokyo, Sydney, Hong Kong, Singapore, India, Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York, Chicago, Fremont, Pittsburgh and Chile. For more information, please visit http://www.polarisFT.com/

Source: Business Wire India

BusinessWireIndia

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