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Development Bank of the Philippines to transform core banking operations

Polaris Kaisa and Kaisa Consulting have announced that the Development Bank of the Philippines (DBP) 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.

Mr. Gil A. Buenaventura, President & Chief Executive Officer, Development Bank of Philippines, said, "The Development Bank of the Philippines is a key player in the nation’s economy building initiatives. As a development financial institution we strive to assist in the building of productive communities and in promoting developmental activities taken up by individuals and organizations in the country.

"Polaris’ proven domain expertise and its Core Banking solution will help us in achieving our agenda. I also believe that the solution would also provide us with the flexibility and robust scalability required to support our growth plans."

Mr. Carlos R. Villegas Jr., Managing Director, Kaisa Consulting Company, Inc. said, "We are honored to provide the infrastructure, the expertise and the technology to support DBP’s noble mission of becoming a financial institution that serves as a catalyst for a progressive and more prosperous Philippines.

"We assure DBP and its customers that Kaisa will do its utmost to make the project a success."

Mr. Jitin Goyal, CEO and Executive Director, Polaris Consulting & Services Limited, said, "We are pleased that the Development Bank of the Philippines has chosen us and our Digital Core banking solution to assist them in their development agenda. This technology partnership with DBP comes at an opportune time as, in the current global economic scenario, banks worldwide are focusing on Digital Transformation for more stable annuity revenue with lower risks."