Abu Dhabi Commercial Bank Goes Live with Polaris’ Intellect® Loan Management System

  Abu Dhabi Commercial Bank Goes Live with Polaris’ Intellect® Loan Management
  System

 Single platform for consumer loan products goes live, simplifying the bank's
                         lending portfolio operations

Business Wire

CHENNAI, India & ABU DHABI, United Arab Emirates -- August 13, 2013

Polaris Financial Technology Limited, a leader in products, solutions and
services that enable unprecedented operational productivity for the global
Financial Services industry, announced that  Abu Dhabi Commercial Bank (ADCB),
UAE has gone live with Polaris’ Intellect^® Loan Management System (LMS). The
Intellect product will cater to the bank’s consumer lending product portfolio,
thereby becoming a one-stop lending portfolio lifecycle management.

Polaris’ highly configurable Intellect LMS handles the entire loan servicing
and enables the bank to offer consistently superior customer experience across
consumer loan products.

The implementation of Intellect LMS with its greatly parameterized product
definition functions serves as a single platform for loan products across
different consumer loan products. The highly modular system supports features
such as collateral management, structured repayment and automated delinquency
tracking. It offers the power to ‘click and launch’ innovative lending
products to meet the ever evolving market needs. The product, which can be
easily integrated with the bank’s existing eco-system, makes it easier to
launch new products and respond to changing market conditions and customer
needs instantly.

Commenting on the successful implementation, K Srinivasan, EVP, Indian
Subcontinent, Middle East, and Africa (IMEA), Polaris Financial Technology Ltd
said, “We are happy to be chosen by ADCB as their technology partner. Our
system will reduce complexities faced by the bank, enhancing its customer
servicing levels. Mortgage financing along with the other lines of consumer
loan business are now initiated on Polaris’ LMS, helping the bank achieve
their objective of using a single window LMS.”

He further added, “Polaris recently won the ‘Best Lending Platform Project’
award at the 7th Asian Banker Awards for its implementation at ADCB, enabling
the bank to enhance product offerings and simplify operations of the lending
portfolio. This win along with Intellect lending platform’s successful
implementation in multiple locations across the world, including a number of
banks in the Middle East, proves our efficient next-generation technology.”

Intellect LMS facilitates all activities from the creation of a loan to
disbursal, maintenance, repayment schedule tracking, accounting, prepayment
processing, delinquency and charge off processing. The rich set of advanced
functions that the system contains will simplify operations of ADCB’s consumer
lending portfolio, in order to gear the bank for accelerated growth.

About Abu Dhabi Commercial Bank (ADCB)

ADCB was formed in 1985 and as at 31 March 2013 employed over 3,000 people
from 55 nationalities, serving over 480,000 retail customers and approximately
38,000 corporate and SME clients in 50 branches, 3 pay offices and 2 branches
in India and 1 branch in Jersey. It is the third largest bank in the UAE and
second largest in Abu Dhabi by assets, at AED 180 bn as at 31 March 2013.

ADCB is a full-service commercial bank which offers a wide range of products
and services such as retail banking, wealth management, private banking,
corporate banking, commercial banking, cash management, investment banking,
corporate finance, foreign exchange, interest rate and currency derivatives
and Islamic products, project finance and property management services.

ADCB is owned 58.08% by the Abu Dhabi Government through the Abu Dhabi
Investment Council. Its shares are traded on the Abu Dhabi Securities
Exchange. As at 31 March 2013, ADCB’s market capitalisation was AED 23 bn. For
more information, please visit http://www.adcb.com.

About Polaris Financial Technology Limited

Polaris Financial Technology Limited  is a global leader in Financial
Technology for Banking, Insurance and other Financial Services. With over 25
years of expertise in building a comprehensive portfolio of products, smart
legacy modernization services and consulting, Polaris owns the largest set of
Intellectual Properties for a comprehensive product suite, Intellect^® Global
Universal Banking (GUB) M180. Intellect^® is the world's first pure play
Service Oriented Architecture (SOA) based application suite for Retail,
Corporate, Investment banking and Insurance. Its acclaimed products, solutions
and services enable unprecedented operational productivity for the global
Financial Services Industry by Building, Maintaining, Expanding and Extending
highly complex and Integrated Financial Technology Infrastructure.

This makes Polaris the chosen partner for 9 of the top 10 global banks and 7
of the top 10 global insurance companies. The company has a global presence
through its 40 relationship offices across 30 countries, 6 international
development centers and 8 fully owned Business Solution centers. Polaris has a
talent strength of over 13,000 solution architects, domain and technology
experts. For more information, please visit http://www.polarisFT.com/.

Contact:

For Media related info, please contact:
Polaris Financial Technology Ltd
Minal Sahani, +91 91766 26468
minal.sahani@polarisFT.com
or
For Investor related info, please contact:
Polaris Financial Technology Ltd
G. Sunanthy Devi, +91 8939933564
sunanthy.g@polarisFT.com
 
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