Saigon Hanoi Bank chooses Intellect Global Universal Banking Platform

…Polaris expands its footprint in Vietnam market

Chennai, May 11, 2009: Polaris Software (POLS.BO), a leading Financial Technology Company, today announced that Saigon Hanoi Bank, one of the leading commercial banks in Vietnam has selected Polaris’ Global Universal Banking platform (Intellect 10.0) to be the technology enabler for its growth journey.

Leveraging its path-breaking Intellect Accelerator Implementation methodology, Polaris will deploy a complete Universal Banking System comprising Core, Lending, Trade, Treasury and Portal functionalities of Intellect 10.0 at Saigon Hanoi Bank (SHB).

Mr Do Quang Hien, Chairman, SHB, said, “Several factors make Intellect 10.0 a compelling technology investment for SHB. The solution is Vietnam market ready and can service customers across retail, SME, commercial and corporate segments. It provides a single view of the customer and enables tracking of global limits for effective risk management. We believe implementation of Intellect 10.0 will enhance our global competitiveness. We look forward to a sustained partnership with Polaris, a technology specialist with growing prominence in our country”.
Commenting on the win, Mr Arun Jain, Chairman & CEO, Polaris Software, said, “Global Universal Banking – Intellect 10.0 platform is an ‘industrial strength’ banking platform encapsulating two decades of learning and working with the leaders in the Banking and Financial Services industry. It has unmatched inter-operability and can easily integrate with the existing eco-system of products, applications and infrastructure, overcoming the limitations of complex monolithic systems. Intellect 10.0 offers the best price-to-performance proposition to banks and financial institutions”.

Mr Supriyo Sircar, CEO, Polaris Asia Pacific, said, “Vietnam is an important hub and growth market for Polaris’ next-generation solutions. For the first time, such a comprehensive solution has been built using SOA technology. We have a successful track record of having implemented this solution in one of Vietnam’s State-owned banks. Intellect 10.0 will enable SHB to rapidly launch new products for its emerging lines of business and offer enhanced customer relationship management”.
About Saigon Hanoi Bank

Saigon – Hanoi Commercial Joint Stock Bank (SHB), formally known as Nhon Ai Rural Joint Stock Bank, was formed in 1993 and now is a leading commercial bank in Vietnam with more than 60 offices nation wide. SHB has served more than 1.5 million customers with approximately 1 million individuals and 700 corporate customers. SHB has increased its chartered capital of 2000 billions since 2007. In terms of operation, SHB business processes are transparent, sustainable and well established. SHB has set up a well-structured capital plan and strong financing resources which are available to meet current and future capital needs. In addition, the bank’s prudent credit culture, appropriate policies and credit procedures have brought about the sound management of assets and prospectives of growing its loan portfolios. SHB has achieved better and better profitability year by year. More over SHB always fulfills over its financial targets. SHB continually and professionally delivers the best banking services to its customers. Having a desire to become one of the leading commercial banks in Vietnam, SHB is committed to provide its customers, shareholders and partners with the best quality and services. For more information, please visit http://www.shb.com.vn/

About Polaris Software Lab

Polaris Software Lab (POLS.BO) is a leading Financial Technology Company, with its comprehensive portfolio of products, smart legacy modernization services and consulting. Polaris has talent strength of over 9000 solution architects, domain specialists and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite namely IntellectTM. Intellect is the first pure play SOA based application suite for Retail, Corporate and Investment banking.
Polaris is headquartered in Chennai and has offices in all global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York, Chicago, Fremont, Pittsburgh and Chile. For more information, please visit http://www.polaris.co.in/.