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Chief Specialized Bank PLC Goes Live with Polaris’ Intellect® Universal Banking Solution
|By Business Wire
|April 26, 2014 03:30 AM EDT
Chief (Cambodia) Specialized Bank PLC (CCSB), a bank providing financial
solutions to corporate, small and medium enterprises and
agriculture-based customers in Hong Kong, has gone live with Polaris’
state-of-the-art Intellect® Core Banking, Lending, Trade and
Treasury Solution in Cambodia. CCSB chose Polaris Financial Technology
Ltd, a leader in products, solutions and services that enable
unprecedented operational productivity for the global Financial Services
industry, to implement its Core Banking, Lending, Trade, Treasury, Armor
(Security Shell) and Integrator (Middleware for interfacing), enabling
it to commence its operations in Cambodia.
Intellect's UBS implementation in Chief Specialized Bank is designed to
facilitate the growth plans of the bank in terms of unique positioning,
business scaling, product depth and meeting ever evolving customer
expectations. Polaris' highly scalable Core Banking Solution for
emerging markets has paved the way for CCSB to have a competitive edge
over competitors, which is essential for steady business growth.
Intellect UBS enables the bank to increase its efficiency, performance,
security and transparency of its day-to-day operations allowing its
customers to enjoy a higher level of service. The Intellect software has
facilitated smooth integration with other systems and has provided a
platform for ensuring risk control through its various processes and
Commenting on this initiative, Loke Wai Ming, CEO of Chief Bank
said, “The rollout of the new integrated Core Banking platform has
created the technological framework to cater to all requirements of
Chief Bank as we rapidly expand our geographic presence and support our
ambitious plans to diversify and expand operations in the future.
Polaris' domain experience in Core Banking implementation and
Intellect's rich functionality and scalability, robust technology and
open architecture makes Polaris' solution a true business enabler.
Intellect solution will enable us to transform into a complete financial
services provider, supporting our ambitious plans to diversify and
expand operations in the future.”
Commenting on the successful implementation, Jaideep Billa, Joint
CEO, Consumer & Institutional Money Management, Polaris Financial
Technology Ltd said, “We are extremely happy to partner with Chief
Specialized Bank PLC to launch their business operations in Cambodia.
Our Intellect solution is a seamlessly integrated platform covering Core
Banking, Lending, Trade, Treasury and Internet banking that manage the
complete life cycle of banking operations with ease and comfort.
Intellect Universal Banking Solution will enable CCSB to increase its
efficiency, performance, security and transparency of its day-to-day
operations allowing its customers to enjoy a higher level of service
with ease and comfort. Supporting the vision of the bank, this
implementation enables them to move towards next generation banking
technology that provides them with a competitive service edge and faster
Polaris Intellect UBS’ rich functionality designed for banks, straddles
the entire range of banking operations from basic Core modules, General
Ledger, Operational Accounts, Deposits, Loans and Advances, Security
Services Module, L/C Module, Counter Operations, Clearing Operations,
Remittances, to other focused modules such as Integration Middleware,
MIS and Analytics, Audit Trail and Access Control with Single Sign-on.
This unique solution is perfectly suited to develop, modify and launch
innovative products and services, thereby improving the go-to-market
timeline in a rapidly developing economy such as Cambodia.
About Chief (Cambodia) Specialized Bank PLC
Chief (Cambodia) Specialized Bank PLC was established on 8 December 2013
and aims to provide financing solutions to corporate, small and medium
enterprises and importantly, agriculture-based customers. We seek to be
a Cambodian bank which is by the Cambodian people and for the Cambodian
people. We seek to accelerate the economic development of Cambodia and
to assist the agriculture-based exporters in trade finance facilities,
including the exports of rice, tapioca and maize, etc. Chief (Cambodia)
Specialized Bank PLC is part of the Chief Holdings group of companies
which is head-quartered in Hong Kong.
About Polaris Financial Technology Ltd
Polaris Financial Technology Limited is a global leader in Financial
Technology for Banking, Insurance and other Financial Services. With
over 25 years of expertise in building a comprehensive portfolio of
products, smart legacy modernization services and consulting, Polaris
owns the largest set of Intellectual Properties for a comprehensive
product suite, Intellect® Global Universal Banking (GUB)
M180. Intellect® is the world's first pure play Service
Oriented Architecture (SOA) based application suite for Retail,
Corporate, Investment banking and Insurance. Its acclaimed products,
solutions and services enable unprecedented operational productivity for
the global Financial Services Industry by Building, Maintaining,
Expanding and Extending highly complex and Integrated Financial
This makes Polaris the chosen partner for 9 of the top 10 global banks
and 7 of the top 10 global insurance companies. The company has a global
presence through its 40 relationship offices across 30 countries, 6
international development centers and 8 fully owned Business Solution
centers. Polaris has a talent strength of over 12,500 solution
architects, domain and technology experts. For more information, please
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