Housing Finance Bank chooses Polaris' Intellect Core banking solution
INDUSTRY| July 26, 2012, 8:58 a.m.
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.”
MORE INDUSTRY NEWS
Telco Systems Rolls Out New 10GE High Capacity Carrier Ethernet Network for KENET in KenyaTelco 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 productGlobal 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 2016BICS, 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
Samsung elevates Mobile Phone picture quality with new image sensorSamsung Electronics South Africa, a world leader in advanced semiconductor technology, announced its newest 12 megapixel (Mp) image sensor for smartphones, which will elevate the quality of mobile phone pictures. Read More
R&M and FNT Collaborate to Launch Comprehensive Solution for Data Centre Cable Management in MEAReichle & De-Massari (R&M) and FNT Software have unveiled their joint solution for data centre cable management. Read More
Airtel Ghana educated media on data bundles and notificationsAirtel has held a sensitization workshop for representatives from leading media houses to educate them on Airtel’s data bundles and notification systems in place to alert customers when their data bundles are getting exhausted. Read More
Riverbed helps Engen centralize remote and branch office ITRiverbed Technology, the application performance company, has announced that global energy company Engen is using Riverbed solutions to centralize Remote and Branch Office (ROBO) IT, and improve productivity, back-up and data security across its multi-national organization. Read More
Carlson Wireless announces first chipset-based White Space RadioCarlson Wireless Technologies, Inc., a global leader in TV White Space (TVWS) technology, is introducing its third generation TVWS chip module, the Picasso Gen3, to the global market. Read More
Ingenico Group deploys cashless revenue collection solution in KenyaIngenico Group, the global leader in seamless payment, in partnership with Kenyan firm Tracom, has deployed a Revenue Collection solution in the County of Nyeri in Kenya. Read More
Eaton Launches Mobile Tech Day to Drive Growth in South AfricaPower Management Company Eaton today launched its first ever South Africa Mobile Tech Day, a month long exhibition to showcase the company’s solutions in commercial construction. Read More
FEATURED STORYGovernment should encourage youths in ICT early
Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSTigo Business – Building trusted business partner relationships with clients
Tigo Business has increased and empowered its account management team to improve its overall customer service experience.