Social Development Bank (SDB), a national-level development bank in Nepal, has gone live with Polaris’ Intellect Core Banking Solution (CBS). Intellect CBS is a core-banking product with multi-currency, multi-branch and multi-banking capabilities, which will transform SDB’s banking technology platform enabling it to deliver modern banking services, gaining market share and expanding its reach. The solution is being rolled out with the help of Swift Technology, a technology consulting firm in Nepal.
The banking industry in Nepal is seeing heightened activity on both commercial and development banking side. This heightened activity along with spurt in number of banks has led to increased competition and fight for market share. In this scenario, technology becomes an important consideration for banks to realize their growth plans of increasing customer base. Intellect CBS will help banks in Nepal overcome the challenges of regulatory reporting, multichannel banking (internet, ATM and mobile) and provide access to remote branches/areas.
Amir Dhoj Pradhan, chief executive officer (CEO), SDB, said: “SDB was incorporated with the objective of providing modern banking services with a social focus and we are happy to leverage the vast experience of Polaris, its distinctive edge in the financial technology domain and its long standing performance benchmarks in our growth journey. After multiple assessment of available core banking solutions, we found Polaris’ Intellect CBS eminently suitable owing to its best in class features, ease of configurability and lowest TCO among all other global solutions available in Nepal.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.