TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/81279
ON THE WEB 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 iterates [the] 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." The Big Deal: Technology INSIDE THE INDUSTRY Polaris Teams Up with Uganda's Leading Mortgage Lender REACHING A DEAL WITH HOUSING FINANCE BANK LIMITED, POLARIS' TECHNOLOGY WILL HELP SUPPORT THE LENDER'S 60 PERCENT MARKET SHARE IN THE AFRICAN COUNTRY. Uganda's leading mortgage lender Housing Finance Bank 10 | THE M REPORT 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' Limited has established a new partnership with Polaris Financial Technology Ltd. Housing Finance Bank selected Polaris' Intellect CBS platform to support its busi- ness and IT needs. Currently, Housing Finance Bank Providers Turn to Acquisitions The industry's tech sector has spent the summer establishing new agreements at home and abroad, creating buzz online and off. solution as its core system, and through Intellect, Housing Finance Bank will gain enhanced capabili- ties for a wide range of banking operations to meet market-specific consumer demands. The bank's technology deal also includes the deployment ing 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 solu- tion, we will be able to automate business processes in order to enhance the competitiveness of the bank in the Ugandan market. of systems from Adrenalin, a Polaris group company, as well as services from CRM Next, and Intense Technologies. Polaris' offerings will help facilitate Housing Finance Bank's goal of diversifying its delivery channels by creating greater process ef- ficiency and customer centricity. Nicholas John Okwir, manag- Mortech and Lendage Finalize Technology Integration THE TWO COMPANIES HAVE ANNOUNCED THE COMPLETION OF A TRANSACTION THAT WILL BLEND THEIR PRODUCT, PRICING, AND LEADS PLATFORMS. ing mortgage leads from many sources and then counting on Marksman to sort out the deals that can close from those that shouldn't even get to the LOS," said Mortech President Don Kracl. "Lendage is a provider of quality leads that are already partially qualified. This tight integration with Marksman will finalized a planned platform integration between the two companies. Through the agree- ment, Lendage users will now benefit from Mortech's product and pricing engine, and leads acquired through Lendage can now be seamlessly imported into Mortech's Marksman program. "Successful lenders are secur- Mortech and Lendage have 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 [its] 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." He concluded: "This deal re-