K Srinivasan

Intellect Design Arena has entered into a collaboration with the Bank of Mongolia (The Central Bank of Mongolia), wherein, the bank will implement Intellect’s Quantum Central Banking Solution for accelerating its digital transformation initiatives under the Payment System Modernization project funded by the Asian Development Bank (ADB).

The implementation aims to support the Bank of Mongolia’s goal of strengthening Mongolia’s economic performance.

Speaking on this partnership, Hon’ble Governor, Bank of Mongolia, Mr. Bayartsaikhan Nadmid said, “Upgrading the Central Bank’s Core banking system is a big step toward the transformation of the national economy. As the result of the tender process, we selected the Intellect Quantum Central Banking Solution for Intellect’s experience in implementing core banking systems in Central Banks across the world, and its comprehensive range of banking operations and services to meet Bank of Mongolia’s the requirements”.

According to the supplier, it’s Central Banking Solution comprises of modules including Enterprise General Ledger, Banking Services, Government Services, Monetary Policies, Credits and Collateral Management and many more.

Mr. K Srinivasan, President – APAC, South Asia, Middle East and Africa, Intellect Design Arena said, “Winning a Central Banking engagement is always a special feeling. We now have the honour of partnering with Bank of Mongolia on their nation-building agenda. We are uniquely positioned with contemporary technical architecture to reduce the complexity in such a large scale transformation. Quantum Central Banking Solution comes with a Real-Time Enterprise GL to fuel executive decision making, risk management and operational control in real-time’’.

by Megha Bhattacharya
Market Analyst at IBS Intelligence