Polaris CBS across 692 branches of Vietnam Bk for Social Policies

CHENNAI, INDIA: The Vietnam Bank for Social Policies (VBSP), a government-owned bank has gone live with Polaris' Intellect Core Banking Solution (CBS) in all its 692 branches spread across Vietnam.

As per a press note, Intellect CBS deployed provides rich MIS reports on demand to effectively manage VBSP's socio-policy based Lending programs 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 programs.

Intellect's CBS has been deployed in a centralized data centre 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.

It was added that 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.

Duong Quyet Thang, General Director, Vietnam Bank for Social Policies said, "As the chief tool of the Vietnamese Government to fight against poverty and to enable financial inclusion of the poor and policy beneficiaries, we required a centralized, robust and scalable solution that will enable us to promote policy and microfinance in Vietnam. Polaris' Intellect solution now helps us in our transformation towards effective operations and financial self sustainability. The rollout of the new integrated Core Banking platform has created the technological framework to cater to all requirements of VBSP and support our ambitious plans to diversify and expand operations in the future."