National Bank of Ethiopia has selected Polaris' next-generation Intellect Quantum Core Banking Solution (CBS) as its new core banking system.
Comprising core banking, general ledger, trade finance, treasury and enterprise reconciliation, the future-ready core banking system will assist the bank to manage different kind of banking operations of commercial banks, governments and financial institutions.
Designed specifically for Central Banks, Quantum CBS will integrate money, securities, payments & settlement system and the enterprise GL to enhance the competitiveness of the bank.
National Bank of Ethiopia Corporate Service Vice Governor Yemane Yosief said, "Polaris’ accurate responsiveness to the bank’s user needs, ease of configurability and low TCO along with its built-in futuristic features made it the ideal solution for the bank."
Headquartered in Addis Ababa, the National Bank of Ethiopia was established in 1963 and is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration.
India based Polaris is a financial technology company, which has a physical presence in 33 geographies.