Sonali Bank closes year end process in just 8-hr using CBS solution

State-run Sonali Bank has completed its year-end closing in just eight hours by using Core Banking Software (CBS) solution of Sonali Intellect Limited, a leading financial technology solution provider in Bangladesh.   

This is a significant milestone for a bank serving more than 20 million customers, said a recently issued a press release. 

Sonali Intellect Limited has transformed Sonali Bank's traditional banking services from a different vendor's stand-alone platform to a centrally controlled Intellect Core Banking platform and delivering international standard banking services to its customers with zero downtime.

Commenting about the achievement, Md Ataur Rahman Prodhan, chief executive officer and managing director of Sonali Bank Limited, said, "Intellect's CBS implementation helped us achieve our twin targets of enhancing enterprise efficiency and customer experience.

"We are happy to achieve this significant milestone. Intellect is an international company having a strong local presence in Dhaka, giving us the unique advantage of providing our customers with unparalleled service with access to world-renowned best digital solutions."

Intellect CBS has been made Bangladesh-ready completely through its local development and support centre. 

Ganesh Prabhu, director of Sonali Intellect Limited, said, "While the banking industry in Bangladesh is going through a significant technological evolution, Sonali Intellect Limited has demonstrated the capability to deliver world-class products to support the rapid change taking place in banking and financial services markets in Bangladesh and globally."

The CBS migration in Sonali Bank started in 2014 with 120 branches and successfully completed all 1209 branches in 2017, thereafter opened 16 branches with CBS.

Sonali Bank which has 1,225 branches across Bangladesh runs on Intellect CBS in full swing providing a centralised real-time banking platform that could provide enhanced functionality and superior customer experience. 

Intellect was ranked No.1 at IDC FinTech Rankings Real Results 2016 for its core banking implementation at Sonali Bank.