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Oman's Bank Sohar to deploy Polaris' Intellect Collect
By siliconindia
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Chennai: Bank Sohar, Oman is all set to deploy Polaris' Intellect Global Universal Banking 10.0 Debt Management solution, to control receivables and minimize delinquent accounts. Polaris' Intellect GUB Debt Management Solution, also known as 'Intellect Collect' is a comprehensive debt collections system that enables banks to design strategies to collect outstanding from their customers and effectively control the rising tide of delinquencies.
Commenting on the deal, Khalfan Rashid Amour Al Taley - DGM Retail Banking, Bank Sohar said, "With the implementation of this system, Bank Sohar customers will get regular advance notifications on the payments they have to make. This will help customers to plan their financials and avoid any penalties associated with delayed payments."
The product is parameterized and enables creation of focused campaigns that give higher throughput in the collection process. The system has performance monitoring statistics to aid in the analysis of applied strategies for efficacy and re-calibration, as well as measuring collection agents' performance. Intellect Collect is a single platform that facilitates customer based collections across multiple products, and has been implemented in four leading banks in the Middle East region. This win strengthens its market presence. Polaris will follow Accelerated. Implementation Methodology (AIM) to enable the business 'go live' in 8 weeks.
Speaking on the occasion, Bikash Mathur, CEO - EMEA, Polaris Software Lab said "The system has seen a very high level of acceptance in the Middle East market due to its strategic and ROI value. With this win we further strengthen our presence in Oman and Middle East market."
Intellect GUB 10.0 is a banking platform that can co-exist with legacy systems as well as support the road-map for future modernization. Intellect GUB spans business processes across retail, private and corporate banking, capital markets and asset management. The solution harnesses the power of SOA to modernize bank's technology platform and enables bank to rapidly launch new products for its emerging lines of business.