Financial technology company Intellect Design Arena has been contracted to provide its Qantum Central Banking Solution to the Bank of Mongolia, the central bank of Mongolia. The company will implement the solution in partnership with IT Zone LLC of Mongolia. It is expected the solution will accelerate Bank of Mongolia’s digital transformation initiatives under the Payment System Modernization project funded by Asian Development Bank. The project is aimed at creating a sound and stable financial system and further strengthening the country’s economic performance. Intellect’s Central Banking Solution comprises integrated functional modules such as Enterprise General Ledger, Banking Services, Government Services, Monetary Policies, Credits and Collateral Management, and Currency life cycle management.
