Aug 21, 2013
Chenai/ Abu Dhabi, August 13th 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.
Re-disseminated by The Asian Banker