Bangalore, June 14 2015: India is fast emerging as a technology solutions crucible for the global banking industry. The last month has seen Indian financial and banking solutions win kudos and enter new international markets:
Polaris Kaisa, a joint initiative between Polaris Consulting & Services Ltd, a leader in digital transformation solutions & services and Kaisa Consulting, announced last week that the Development Bank of the Philippines (DBP), one of the largest Government Financial Institutions (GFI) in the Philippines has chosen to implement Intellect Digital Core (Core Banking Solution) to transform its core banking operations.
The Development Bank of the Philippines, the country's premier development finance institution, has been a key player in nation-building by assisting critical industries and sectors, promoting entrepreneurship and contributing to the improvement of lives of Filipinos across the nation.
Polaris Consulting has joined with Kaisa Consulting, the leading IT strategy and implementation consultancy in Philippines to implement the Intellect banking suite for DBP.
DBP has chosen the solution packaged with an integrated set of products from the Digital-ready Intellect suite of products such as Digital Core (Core Banking Solution), Loans Origination & Loans Management System and end-to-end Trade Finance. The solutions will drive operational, technological implementation and support excellence at a very low Total Cost Ownership (TCO) for the Bank. The Digital Core solution, based on a powerful technology platform, coupled with a superior software design, will help DBP become the primary bank of every customer by redefining the overall customer experience.
Polaris offshoot, Intellect Design Arena, a specialist in applying Digital Technologies across Banking & Insurance, has won three Technology Implementation awards for the year 2015 at The Asian Banker’s 2nd Annual Middle East and Africa Awards.
In the awards ceremony held at the Ritz Carlton, DIFC, Dubai, earlier this month, Intellect's Global Consumer Banking (iGCB) and Global Transaction Banking (iGTB) lines of businesses have won the “Best Single Country Core Banking Implementation” both in the Middle East & Africa and “Best Multi-Channel Implementation in the Middle East” awards respectively.
Intellect won ‘Best Single Country Core Banking Implementation in the Middle East’ for its implementation at NBAD, Egypt. Intellect replaced the bank’s existing infrastructure with a Core Banking System, leveraging the latest technology to provide modern electronic banking services capable of addressing future client demands.
The ‘Best Single Country Core Banking Implementation in Africa’ was awarded to Intellect for implementation at Consolidated Bank of Kenya Limited (CBKL). CBKL required not only the replacement of its legacy solutions with a centralised core banking system furnished with a wide range of add-on functionalities, but needed this to be constructed in a scalable manner in order to ensure it could expand alongside the bank’s future growth and operational requirements.
The implementation at Ahli Bank, won the ‘Best Multi-Channel Implementation in the Middle East’. Seeking to offer banking services anytime and anywhere, the bank was in need of an advanced electronic offering, an issue addressed in the form of e-channel solutions, Retail Banking Exchange(RBX) and Corporate Banking Exchange (CBX). The solutions provided high level of flexibility for customisation, robust security features and multi-channel banking capabilities.
Infosys has been placed as the highest scoring vendor in all six use cases in the Gartner Critical Capabilities for International Retail Core Banking* assessment.
The May 2015 report evaluates 20 leading core banking vendors for each of the six use cases defined by Gartner. The six use cases for which Infosys has received the highest scores are: Small Bank/Simple Use Case, Small Bank/Complex Use Case, Midsize Bank/Simple Use Case, Midsize Bank/Complex Use Case, Large Bank/Complex Use Case, Worldwide Multinational Deployment Use Case.
Out of the 20 solutions reviewed, Infosys is the only vendor that received a Product score above four out of five in Midsize Bank/Complex Use Case and Large Bank/Complex Use Case
Tata Consultancy Services', has launched TCS BaNCS Digital, a solution designed specifically for financial institutions in North America.
US-based banks can now use TCS BaNCS Digital to deliver an intuitive, interactive and insightful customer experience. TCS BaNCS Digital also allows seamless integration of various stakeholders in the financial supply chain and its ecosystem.
The world of retail banking is constantly changing as more and more power is infused on smart phones and new players are offering digitally powered niche capabilities that are intermediating the banking value chain. Banks are facing increased competition for market share to such new players or non-banks, who are becoming the front-end or an originator of many financial transactions. However, banks have a huge amount of information about their customers and their financial behaviors that can provide insights on their needs. Rightfully, this can be leveraged through digital channels to deliver simple, insightful and pure banking services that meet the needs of customers and make them feel understood.
TCS BaNCS Digital is a modern banking platform enabling convenient, insightful and Any Place Banking to customers at large across segments, be it individuals, corporations, SMEs, or the affluent. The solution is conceptualized as a series of secure enterprise and consumer apps that can be highly personalized and white-labeled. The embedded Digital Insights Layer enables integration to the existing core systems, as well as to the external social world, providing complete information at the hands of client’s (e.g., convenience and control). The technology can be deployed on top of existing core banking infrastructure, launched as a new digital bank or as a mobile only bank.
Most recently, last week, leading Chennai-based provider of IT Lifecycle Assurance Maveric Systems, a with a strong focus on the BFSI and Telecom sectors, has won the award in the Best Banking Technology PartnerAward category at the 14th Annual Banker Middle East Industry Awards.
The company won this award for the second consecutive year. Instituted by CPI Financial – a leading financial media company in the Middle East, the Banker Middle East Industry Awards is the region’s leading financial event to recognize both corporate and individual distinctions amongst top performers in the financial services.
Winners this year were selected from across the United Arab Emirates, Qatar, Saudi Arabia, Oman, Kuwait, Bahrain, Jordan and Lebanon by popular vote, gathered amongst the technology decision makers and business leaders of banks and financial institutions in the Middle East.
Maveric provides end-to-end IT Lifecycle Assurance Services, partnering with clients across the entire “Requirements-to-Release” cycle with innovative IP led solutions. The ‘Assurance-only’ business model that brings diverse competencies viz. Requirements Assurance, Application Assurance and Program Assurance under one umbrella is the company’s biggest differentiator.