Al Hilal Bank goes live with IntellectTM Collect

Abu Dhabi/Chennai, June 16, 2009: Polaris Software Lab Limited (POLS.BO), a leading Financial Technology Company, today announced that Al Hilal, a leading bank in UAE, has gone live on Polaris’ IntellectTM Collect system. Through this solution, Polaris will help Al Hilal realize its vision of creating financial supermarkets for its customer to experience the entire range of banking services under one roof.

Polaris’ Intellect Collect is a debt collections system that enables businesses design strategies to collect outstanding(s) from the customers. The product is parameterized and enables creation of focused campaigns that give higher throughput in collections process. In addition, the system has performance monitoring statistics to aid analysis of applied strategies for efficacy and re-calibration as well as measuring collection agents’ performance.

Speaking on the occasion, Bikash Mathur, CEO, Polaris EMEA, said, “We are excited that Al Hilal, a visionary bank in UAE, has chosen Polaris’ Intellect Collect and is now live. Intellect Collect system has seen a very high level of acceptance in the Middle East market due to its strategic and ROI value. Today’s banking customers demand more attention and personalization and Intellect Collect enables banks to cater to this need.”

Commenting on the deal, Mr. Mohamed Zaqout, EVP and Head of Personal Banking, Al Hilal, said, “At Al Hilal, our vision is to make banking simple, secure and fast – a financial supermarket offers the ultimate customer experience. We strongly believe that the post sales experience is as critical as the pre-sales one to ensure client delight and retention. Intellect Collect is perfectly designed to meet the growing demands of an enriched post-sales experience to our customers.”

Polaris has earlier implemented Intellect Collect system for three leading banks in the region, and this successful implementation strengthens its presence in the region. At Al Hilal, the solution was implemented using Polaris’ Accelerated methodology and delivered in 10 weeks.

About Polaris Software Lab

Polaris Software Lab (POLS.BO) is a leading Financial Technology Company, with its comprehensive portfolio of products, smart legacy modernization services and consulting. Polaris has talent strength of over 9000 solution architects, domain specialists and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite namely IntellectTM.

Intellect is the first pure play SOA based application suite for Retail, Corporate and Investment banking. Polaris is headquartered in Chennai and has offices in all global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York, Chicago, Fremont, Pittsburgh and Chile. For more information, please visit http://www.polaris.co.in/.

About Al Hilal

Al Hilal Bank is wholly owned by the Abu Dhabi Investment Council, which is an investment body of the Government of Abu Dhabi. The Bank has an authorized capital of AED 4 billion and is licensed to operate as an Islamic commercial bank. Al Hilal Bank is committed to becoming the region’s leading financial institution, escalating the development of Islamic Banking with a fresh approach to the industry, new technology and service excellence. Al Hilal Bank has eight branches across UAE