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
iWayAfrica Zimbabwe achieves Cisco Certified Partner StatusiWayAfrica Zimbabwe, a Gondwana International Network (GIN) company has been awarded its Cisco Select Certified Partner status. Read More
GSMA case study: Nomanini enables rapid, reliable prepaid retail in informal marketsA new case study from GSMA has highlighted the Nomanini mobile point of sale terminal and cloud-based distribution platform. Read More
Citrix, Google enhance enterprise security and management of Android devicesXenMobile Supports Android for Work; Extends Citrix Leadership in Secure Mobile Workspace Solutions for the Broadest Array of Devices. Read More
Make life easier for your customers with recurring paymentsMerchants should implement recurring payments within their businesses to improve their own cash flow and reduce costs, but automatic billing can also help build customer loyalty through the added convenience. Read More
Accelya Solution to help Air Namibia to manage costs and profitabilityAir Namibia expands relationship with Accelya; selects cost management and flight profitability solutions. Read More
Wipro Invests R3.8 million in skills development, job creation in SAWipro Ltd, a leading global information technology, consulting and business process services company, has announced an investment of R3.8 million towards skills development and job creation in South Africa. Read More
Airtel Niger selects Ericsson for 3G network deploymentAirtel, Niger’s leading mobile service provider has named Ericsson as their exclusive 3G HSPA end-to-end hardware, software and related service vendor in Niger Republic. Read More
Orange Mali upgrades WiMAX infrastructureOrange Mali recently selected Alepo to enhance its WiMAX core infrastructure via Alepo’s high-performance AAA infrastructure. Read More
CommVault, Crayon partner to bring data management software to EMEA cloud service providersCommVault has announced that its data management platform would be available via EMEA cloud hosting partners through a new strategic aggregator partnership with Crayon, a global leader in service provider licensing, management and consultancy. Read More
Printronix announces partnership with Talk TechnologyPrintronix, a leading manufacturer of line printing solutions has signed an African distribution partnership for Africa with IT distributor Talk Technology. Read More
FEATURED STORY2bn priced out of internet access
A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.
BEST READ NEWS
IN DEPTHVillagers get solar training at Barefoot College
The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.
COMPANY NEWSMTN Group Sustainability Report released
MTN Group’s efforts to advance social development in its markets through the integration of sustainable business practices into day-to-day activities, is yielding positive outcomes, the company’s Sustainability ...