Housing Finance Bank chooses Polaris' Intellect Core banking solution

INDUSTRY

|
Image: By Polaris
Housing Finance Bank chooses Polaris' Intellect Core banking solution

Polaris Financial Technology, a leading global financial technology company, has announced that Housing Finance Bank Limited, the leading mortgage lender with approximately 60% of all Ugandan mortgage accounts and the 9th largest commercial bank in Uganda, has chosen to deploy Polaris' Intellect Core Banking Solution (CBS) to support its current and future Business and IT requirements.

Polaris' Intellect product suite will be Housing Finance Bank's new core system, comprising Intellect CBS, LOS, Capital, Trade Finance, Treasury, Anti Money Laundering (AML) and Retail Internet Banking, and will support an extensive range of banking operations to meet market specific customer needs. As part of the overall deal Polaris will also deploy HRMS from Adrenalin, a Polaris group company, CRM from CRM Next and a document management solution from Intense Technologies.

With Polaris' Intellect, the bank would enjoy greater process efficiency and customer centricity, thereby helping diversify the delivery channels. Polaris will make available to the bank, a solution that runs on new technology with the aim of automating processes, faster time to market and timely and accurate management and regulatory reporting.

Nicholas John Okwir, Managing Director, Housing Finance Bank Limited, said: "Polaris was chosen due to its accurate responsiveness to the bank's user needs, along with built in futuristic features. With Polaris' Core Banking Solution, we will be able to automate business processes in order to enhance the competitiveness of the bank in the Ugandan market. The customers of the bank will benefit from better banking facilities from this automation, helping contribute more to the fast growing economy."

K Srinivasan, EVP & Geography Head, Indian Subcontinent, Middle East, and Africa (IMEA), Polaris Financial Technology Ltd., said: "This is a landmark deal for Polaris in the Ugandan market and we are delighted that Housing Finance Bank Limited chose Intellect CBS and allied suite of products after a thorough evaluation process vis-à-vis our competitors, as part of its initiative to capture new markets in the country. This deal reiterates strength of Polaris' portfolio of product and service offerings in addressing the needs of the market, and promptly at that. It establishes the growing acceptance of Intellect CBS as the cutting edge banking solution across the globe.”



Share the News

Get Daily Newsletter

Search News

comments powered by Disqus

MORE INDUSTRY NEWS

MainOne’s Data Center attains West Africa’s 1st SAP HANA® Certification

MainOne, the premier connectivity and data center Solutions Company, today announced that its Data Center subsidiary, MDXi is now an SAP-certified provider of Infrastructure Services for SAP® solutions.  Read More

Riverbed Announces Definitive Agreement to Acquire Aternity

Jerry M. Kennelly, Riverbed Chairman and Chief Executive Officer Acquisition expands Riverbed’s SteelCentral offerings, providing the industry’s best and most comprehensive end-to-end visibility solution in the market – spanning network, application and end user experience management. Read More

Gilat Telecom Uganda provides internet services for 60 business customers

Gilat Satcom has established an ISP in Uganda which is already providing fast, reliable and highly secure broadband services to more than 60 business clients, mainly around Kampala and Entebbe.  Read More

New solution to beat identity theft

Ideco is launching its new all-in-one mobile biometrics unit in South Africa. The Biometric Identity Management System (BIMS) enables biometric identification across a range of modalities, from fingerprint through to iris scanning. Read More

Cellphones to improve healthcare access and quality in Africa

Making use of VMware technologies, Medic Mobile has developed a software kit to be used in almost any kind of environment, support any language, and work with or without Internet connectivity, locally or in the cloud Read More

Safaricom uses Nokia CEM on Demand

Safaricom, the largest integrated telecommunication service provider in East Africa, is improving services for more than 25 million subscribers in Kenya, thanks to Nokia's Customer Experience Management on Demand.  Read More

Standard Bank digital innovation delivers single biometric and cross border banking accessibility

Africa’s largest bank by assets, Standard Bank, has seen its mobile traffic growing 100% a year as customers embrace more convenient and efficient solutions for their banking needs.  Read More

Telco Systems Rolls Out New 10GE High Capacity Carrier Ethernet Network for KENET in Kenya

Professor Meoli Kashorda, Executive Director of KENET Telco Systems, the leading provider of innovative CE 2.0, MPLS, IP and SDN & NFV solutions, has announced that the company has successfully deployed a new 10GE high capacity carrier Ethernet network for the Kenya Education Network (KENET) in Kenya.  Read More

GeoPoll, Kantar Media, Cuende announce first Pan-African Out of Home measurement product

Global leaders in audience research use satellite imagery and mobile survey data to measure OOH reach in Africa. Read More

BICS blocks over 10m fraudulent call attempts with FraudGuard in 2016

BICS, a global wholesale carrier for voice, mobile data and capacity services says its crowdsourcing fraud prevention platform, FraudGuard, detected and blocked more than 10 million fraudulent call attempts on its customers’ networks during the first quarter of 2016. Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor NetworksEricssonTigo Ghana

FEATURED STORY

Financial services sees AI as both opportunity and threatFinancial services sees AI as both opportunity and threat

Banking is already a key area where technology is having an impact throughout Africa, and a new survey assesses the impact artificial intelligence will have on this sector.

Advertisement

IN DEPTH

Access and Use of ICT stats releasedAccess and Use of ICT stats released

Statistics Botswana has released the first results of the 2014 Information and Communication Technology Household Survey.