Polaris Financial Technology has declared that the Andhra Pradesh State Cooperative Bank (APCOB) has gone live with Polaris state-of-the art Intellect Core Banking Solution (CBS) in all its 22 affiliated District Central Cooperative Banks (DCCBs) spread across the state. APCOB chose Polaris Financial Technology, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, to implement its multi-entity Core Banking Solution.
Intellect’s multi-entity CBS has been deployed in a centralized data centre in Hyderabad and can be accessed by all the 560 branches and 22 head offices of the bank. Intellect CBS’s deployment will provide a unique and comprehensive on-lending software integrating the DCCBs operations with 2,748 Primary Agricultural Credit Co-Operative Societies (PACS) in Andhra Pradesh. The solution with shared infrastructure costs will reduce the total cost of ownership significantly.
Intellect CBS will enable DCCBs to generate independent reports and at the same time give APCOB the ease of generating a consolidated report whenever required. The solution will also enable the DCCBs to expand their branch network with ease and cover even in the remotest of places in their area of operation. This multi-entity deployment with facilities for online integration with PACS will be the first of its kind implementation in India.
Polaris is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking. Polaris services over 200 banks across the world, including 9 of the top 10 banks, with a comprehensive suite of products, services and consulting offerings.