SHB, Vietnam Goes Live With Intellect™ Global Universal Banking

Chennai - January 25 2011

…Deployed end-to-end Universal Banking comprising Core, Lending, Trade, Treasury and Portals in 11 months using proven Accelerated Implementation Methodology

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 Intellectâ„¢ Accelerator Implementation Methodology (AIM), Polaris deployed a complete Universal Banking System comprising Trade Finance, Lending, Internet Banking, Core Banking and Treasury functionalities of Intellectâ„¢ 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 TM 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 aximum efficiency. Intellect TM 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”.

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