By IANS,
Chennai : Nepal based Social Development Bank, a national level development bank, Thursday went live with the core banking solution Intellect vended by city based Polaris Financial Technology Ltd (formerly Polaris Software Lab).
“Our entry into the banking industry in Nepal will boost Polaris’ market awareness and its strong product suite in the region. We are extremely happy going live at Social Development Bank as it formalises Polaris’ foray into Nepal,” K.Srinivasan, executive vice president, Polaris Financial Technology, said.
He said Intellect is the only pure Java technology based core banking solution being offered from the Indian subcontinent and it is increasingly becoming popular among emerging markets after recent successes in Bangladesh and Sri Lanka.
According to Polaris Financial Technology, the banking industry in Nepal is seeing heightened activity on both commercial and development banking side and the company’s foray into the market is just in time to leverage the opportunity.