The Vietnam Bank for Social Policies (VBSP), a government-owned bank, has deployed Polaris’ modern Intellect Core Banking Solution (CBS) to help drive the bank’s socio-economic policies.

The core banking technology, which has been seamlessly integrated across 692 branch offices, will provide MIS reports on demand to effectively manage VBSP’s socio-policy based lending programs and enable the bank to monitor the operations across Vietnam.

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Polaris noted that the technology will enable the lender to efficiently assess the success of various socio-policy lending programs.

Intellect’s CBS has been deployed in a centralized data centre in Vietnam, while its shared infrastructure costs will slash the total cost of ownership significantly.

Besides supporting operations in approximately 11,000 transaction points, the Intellect’s Offline system offers hassle free management of more than 16 million accounts.

Intellect Lending, a modular loan servicing system, features centralized credit line monitoring, collateral management, and repayment and automated delinquency tracking, offering improved customer experience to businesses such as mortgage, consumer loans and commercial loans.

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Vietnam Bank for Social Policies general director Duong Quyet Thang said, "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."