IBS Journal September 2015
WHO? HDFC Bank WHAT? Intellect Design Arena’s core banking & loan origination systems
Intellect Design Arena (a Polaris company) will implement its core banking and loan origination software at Sri Lanka’s Housing Development Finance Corporation (HDFC) Bank in a one-year project. Infosys and Sungard were also consid-
ered, but lost out to Intellect. HDFC, a majority government-owned
bank, has become the country’s second public sector bank to sign for the Intellect core banking software. HDFC supports the country’s housing sector, providing financ- ing for construction, renovation, land pur- chase and purchase of ready built houses. The project is in the initial stage at the
moment, says W.M.A. Bandara, the bank’s CIO, but the intention is to go live within one year. ‘We are actually hoping to go live in nine months,’ he adds. On the way out is an in-house devel-
opment that has been running in the bank since 1993. ‘Our legacy system was outdated and
restricted the introduction of new servic- es and products,’ says D.V. Pathirana, CFO at HDFC. ‘Furthermore, it offered limited cus- tomer reach, as it did not support remote banking, so we were limited to branches only.’ There was also dissatisfaction among the bank’s staff as the legacy system was ‘slow and manual’. With the introduction of the new core, users will be able to concentrate
on customers and business, says H.S. Gunathilake, assistant general manager, business development and marketing at the bank. ‘They will no longer be bogged down with the day-to-day manual computer work, they will be able to focus on innovative products and services and improve custom- er service,’ she states. There will be a much better customer
visibility with the new software in place, cre- ating ample cross-selling opportunities, she adds. Plus, there will be new ways to reach customers via new online channels. Profita- bility will increase, whilst the costs will con- siderably decrease, the bank anticipates. Gunathilake adds that HDFC’s staff has
welcomed the changes. ‘We had people con- tributing their views from the outset and we exchanged ideas with the Intellect team. This was very helpful, and we felt they were sup- portive and accommodating. They ensured we went into the project smoothly.’ 50 per cent of the staff was called to the bank’s HQ in Colombo for induction and training. HDFC will implement a range of Intel-
lect modules, including GL, operation- al accounts, savings, deposits, loans and advances, leasing, counter operations, remittances, pawning and debentures. At the front-end, the vendor’s loan origination system will be deployed across the main lines of business (retail, SME and corporate). The project has been a couple of years
Colombo, Sri Lanka
in the making. ‘Our board consists of a number of public bodies and government departments, and these are never easy to convince,’ recalls Pathirana. The system selection was initiated in 2012, in line with the government guidelines. An RFP was sent out to the vendors that had local rep- resentation (at least two banks in Sri Lanka running the system). Intellect’s core system has five live users
in Sri Lanka, including Regional Develop- ment Bank (the first public sector bank in Sri Lanka to sign for Intellect, in 2011), Citi- zens Development Business Finance (CDB) and Central Finance Company. Alongside Intellect, shortlisted candi-
dates included Infosys with its Finacle offer- ing and Sungard with Ambit, says Bandara. The weighting was assigned as follows: 80 per cent to the technical proposal and 20 per cent to the financial one. Tanya Andreasyan
WHO? Belagroprombank WHAT? R-Style Softlab’s reporting software
Belagroprombank, the second largest bank in Belarus and a top-20 bank in Central and East- ern Europe, is automating its management and financial reporting with R-Style Softlab. Belagroprombank services 1.9 mil-
lion retail and 48,000 corporate customers across a domestic network of 350+ branches and outlets. R-Style Softlab will build a central-
ised data warehouse based on its RS- Datahouse offering, and will also implement its reporting applications, RSDH: Manage- ment Reporting and RSDH: IFRS (for reports according to International Financial Report- ing Standards).
34 At the back-end, the new solutions will
integrate with the SC-Bank NT core banking system, supplied by a local vendor, Softclub. However, to start with, Belagroprom-
bank and R-Style Softlab will jointly devise the management reporting methodology. R-Style Softlab has experience in this
field in Belarus: a few years back it embarked on a similar project with another local bank, BelVEB. Here, R-Style Softlab’s software inte- grates with Misys’ Equation core banking system. R-Style Softlab is a Moscow-based pro-
vider of banking solutions, including the RS-Bank core banking system. As of spring
© IBS Intelligence 2015
www.ibsintelligence.com Minsk, Belarus © mikkalai, Wikipedia
2013, the vendor is owned by a Polish soft- ware powerhouse, Asseco.
Tanya Andreasyan
recent orders
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56
