Chennai, Oct 6 (IANS): Ethiopia's central bank has chosen city-based Polaris Financial Technology's core banking solution (CBS) software.

Polaris Saturday said the National Bank of Ethiopia has chosen its "Intellect Quantum CBS" solution software designed for central banks.

It comprises core banking, general ledger, trade finance, treasury and enterprise reconciliation.

"Targeted at central banks globally, Intellect Quantum CBS for central banks is a specialised offering and we are optimistic about its success in the African market," K. Srinivasan, executive vice president, Polaris, said in a statement.

"After multiple assessment of different international core banking vendors, we found Polaris eminently suitable as Polaris was the only vendor that had a solution specifically designed to cater to Central Banks," Polaris quoted Yemane Yosief, vice governor, corporate service, National Bank of Ethiopia, as saying.

"We found the precedence set by Polaris in its CBS implementation for Central Banks in the Reserve Bank of India and Central Bank of Seychelles highly commendable," said Yosief.