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

comments powered by Disqus

MORE INDUSTRY NEWS

Softworx launches African growth initiative

EOH Company and Infor Master Partner, Softworx  has launched the Africa Partner Network (Softworx APN) to channel Infor software sales and consulting services throughout Sub-Saharan Africa.   Read More

IBM Announces First Commercial Application of IBM Watson in Africa

IBM and Metropolitan Health have announced the first commercial application of Watson in Africa. IBM's Watson is a groundbreaking computing platform able to interact in natural language.  Read More

ATIO to introduce voice biometrics to their customers through partnership with OneVault

Specialist ICT Services Provider ATIO has announced that they have partnered with voice biometric authentication service provider OneVault to offer innovative voice biometric solutions to their customers. Read More

Samsung revolutionises digital signage

Samsung Electronics South Africa announces the availability of Smart Signage TV, a revolutionary new device designed for small and medium businesses (SMBs) and small office/home office (SOHO) owners.  Read More

averda looks to clean more cities in Africa

averda, a global provider of innovative integrated waste management services, has showcased its new equipment dedicated to serve Casablanca. Read More

CA delivers latest SaaS-based enterprise mobility management with Zero-Day support for iOS 8

CA Southern Africa has confirmed that CA Technologies (NASDAQ: CA) is continuing to transform enterprises into being “Mobile First” with the release of its SaaS-based   Enterprise Mobility Management (EMM) solution suite and providing zero-day support for iOS 8 across mobile device, application, content and email management. Read More

Orange Business Services launches worldwide location services for Machine to Machine SIM cards

The new Machine to Machine (M2M) worldwide geolocation offering from Orange Business Services provides real-time location tracking of corporate assets and equipment anywhere in the world via cellular networks, regardless of the operator. Read More

Solarcentury to build the largest carport solar system in Africa

Solarcentury is to design and construct Africa’s largest solar carport on the uppermost storey of a car park at Garden City Mall, part of the new 32-acre integrated residential, retail park, hotel and office development on Nairobi’s Thika Superhighway.   Read More

Pamoja, the platform of choice for DHL

RUBiQ, a Cloud solution that is run on Cloud platform infrastructure from leading Cloud services company Pamoja, has served as the platform of choice to expand DHL’s global back office systems. Preliminary testing has revealed that the project has been successful. Read More

PayPal announces collaboration with PayGate in South Africa

With the announcement of a partnership between PayPal and local payment service provider PayGate, it is now easier than ever for merchants to accept online payments in South Africa. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Growing African focus on data securityGrowing African focus on data security

Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.  

COMPANY NEWS

CNN, MultiChoice name top African Journalist 2014

Kenyan journalist Joseph Mathenge has been awarded the top prize at this year’s CNN MultiChoice African Journalist 2014 Awards Ceremony.