Polaris Finalizes Deal with Uganda’s Leading Mortgage Lender

Uganda's leading mortgage lender, ""Housing Finance Bank Limited"":http://www.housingfinance.co.ug/, has established a new partnership with ""Polaris Financial Technology Ltd."":http://www.polarisft.com/ Housing Finance Bank selected Polaris' Intellect CBS platform to support its business and IT needs.

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Currently, Housing Finance Bank holds approximately 60 percent of all mortgage accounts in Uganda, and the entity is the ninth largest commercial bank in the country.

The bank will utilize Polaris' solution as its core system, and through Intellect, Housing Finance Bank will gain enhanced capabilities for a wide range of banking operations to meet market-specific consumer demands.

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The bank's technology deal also includes the deployment of systems from ""Adrenalin"":http://www.myadrenalin.com/india/, a Polaris group company, as well as services from ""CRM Next"":www.crmnext.com/ and ""Intense Technologies"":www.intense.in/. Polaris' offerings will help facilitate Housing Finance Bank's goal of diversifying its delivery channels by creating greater process efficiency and customer centricity.

Nicholas John Okwir, managing director for Housing Finance Bank, 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.""

Polaris' executive vice president and head of geography for Indian Subcontinent, Middle East, and Africa, K Srinivasan, commented, ""This is a landmark deal for Polaris in the Ugandan market and we are delighted that Housing Finance Bank chose Intellect and allied suite of products after a thorough evaluation process vis-a-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 as the cutting edge banking solution across the globe,"" concluded Srinivasan.