Intellect Quantum CBS is the specialist Core Banking Solution for the unique requirements of central banks. Trusted by central banks of India, Seychelles, Ethiopia and now in Europe, the solution deploys a formidable array of advanced technology frameworks including Extreme Account Posting (XAP), Run Time Re Use (RTRU), and Look Ahead Processing (LAP) technologies.
CENTRAL BANKS NEED MODERN SOLUTIONS TO SUPPORT EFFICIENT, TRANSPARENT AND TIMELY OPERATIONS
The powers of central banks extend to managing financial resilience, macro-economic stability, global capital markets and international co-operation. As such they need modern IT platforms and solutions to support efficient, transparent and timely operations.
Today, Central Banks’ focus has changed after the 2008 Lehman crisis:
- Manifold causes. Proximate cause – US Sub Prime Crisis
- Global macroeconomic imbalance
- Flaws in risk management
- Liquidity risk – not included while prescribing capital requirement in Basel II
- Regulatory and supervisory challenges - unable to cope
- Credit rating agencies – Inherent conflict of interest
Monetary policy implementation with prudent risk management
Recent episodes of market stress, along with other ongoing changes in financial markets and the broader financial system have prompted central banks to re-examine their collateral policies for their monetary policy implementation with prudent risk management. This results in need for a more sophisticated and integrated Collateral Management and Liquidity Settlement Systems with high level of automation and advanced features to contain the risks.
SINGLE UNIFIED PLATFORM FOR CENTRAL BANK TRANSFORMATION
Intellect Quantum Central Banking Solution (QCBS) has been developed with the support of four far-sighted central banks and former central bankers and industry experts in our advisory board to meet complex national and global challenges.
The solution is delivered and proven for the complexity of modern central bank operations. It has won two prestigious global awards – Technology Provider of the Year Award from Central Banking Forum and the Asian Banker Award for Best Central Bank Implementation in Asia.
The only integrated banking platform under single application umbrella with modular structure. Intellect QCBS caters to comprehensive needs. The solution has proven best practices adopted by Large, Medium and Small Central Banks across Asia, Africa and Europe.
The solution has comprehensive features to support the following key pillars
- Enterprise General Ledger (EGL) , Budget, FA (QEGL)
- Common Banking Services (QCORE)
- Currency in Circulation & Bullion Management (QCICM)
- Collateral Management, Liquidity Providing Transactions (QCLMS)
- Public Debt Management & Depository (QPDMS, QCSD)
- Government Services (QTSA)
- Treasury, IMF, Bullion and Reserve Management (QRTM)
- RTGS (QNPS)
PROVEN EXPERTISE SPEAKS FOR ITSELF
We found Polaris eminently suitable as Polaris was the only vendor that had a solution specifically designed to cater to central banks. Polaris' accurate responsiveness to the bank’s user needs, ease of configurability and low total cost of ownership along with its built-in futuristic features made it the ideal solution for the bank.
Deputy Governor of an African Central Bank
"Intellect Core Banking System (CBS) for Central Banks will usher a new chapter in the transformation journey of our banking, monetary and financial system in the country. Polaris' distinctive edge in the financial technology domain and long standing performance benchmarks lead to its selection vis-a-vis other competitors."
Governor of an African Central Bank
"I truly believe, and have noticed, that one major important factor for the success is the way how your team interacts together with Central Banks during the design and at the same time spend efforts to reduce the complexity of the product."
Deputy Head of Cash & Payment Systems of an European Central Bank
"Intellect had installed the system ‘in record timing’, as well as a number of other systems. The entire government accounts in the country, through the Bank’s own offices and the agency mechanism, are consolidated through this platform. For the first time in the history the annual balance sheet is generated in real-time which used to take couple of weeks in the past."
General Manager & Deputy General Manager of an Asian Central Bank
ROBUST DESIGN, SCALABLE TECHNOLOGY, IMPECCABLE IMPLEMENTATION
One Goal – Enabling central banker to have real-time view of overall operations including general ledger for effective decision making:
- Intuitive integrated dashboards
- Financial health monitoring in single click
- Quicker policy implementation in risk free manner
9 to 18 months Implementation – Proven implementation processes to suite the central bank’s resource bandwidth for aggressive to reasonable implementation timelines.
- Robust data migration model and tool
- Resources with strong central bank domain knowledge
- Proven representative business process support
- Wide range of user configurable business rules
- Robust in-built service and integration layer
6 Key Enablers of Execution Excellence – iGCB's excellence in global implementations is based on six key enablers of execution that stems from design thinking:
- Configurable & Well Defined Business Process Flows
- Time tested Requirements Management Tool Master Process Exchange (MPX)
- Customer Specific Intellect Product Adoption Document (IPAD)
- Robust Data Migration Tool (DMX)
- Established Accelerated Implementation Methodology
- Support for Progressive Modernization
LEVERAGING REVOLUTIONARY TECHNOLOGIES
100 MILLION TRANSACTIONS PER DAY
The solution is platform agnostic and can work on all industry standard hardware. On CISC platform, we support Intel x86/64 based hardware from all OEMs like Dell, HP, Cisco, IBM etc.
On RISC Platform, we support IBM Power, Oracle SPARC, HP Itanium hardware. Supported Operating systems are RHEL 6.x+, Oracle Linux 6.x+, Windows 2008+, IBM AIX 6+, Solaris 11.x+, HP-UX 11i+. The application is built on pure java/JEE standards and supports standard Java application servers like WebSphere 8.5 or higher, Weblogic 10.3.6 or higher, Jboss EAP 6.x.
The solution supports all standard RDBMS and has been implemented on Oracle 11g EE or higher in most sites. We also support virtualization on all the tiers. Supported virtualization technologies include IBM Power VM, Oracle VM, VMWare, KVM, MS HyperV.
The Intellect design philosophy, a key differentiator in developing solutions for the transformative agendas of CXOs, ensures a dramatic shift from disjointed digital activities to strategically aligned outcomes. As banks embrace digital for competitive advantage, they’re all focused on the same goal. To provide their customers the same experience at every touch point. It takes Intellect to make this an extraordinary digital experience. Outside and Inside with advanced Online Portal with Self Administration capabilities, service and workflow management for Commercial Banks and Govt. Agencies and similar experience for the central bank staff who work in the front, middle and back-offices.
One of the Largest Central Banks
EVP & Business Head - Quantum Central Banking Solution