Polaris Software bags Bank of Asia order

Chennai: The city-based Polaris Software Lab has announced the bagging of an order for its CollectNow — a banking software product — from Bank of Asia, Thailand.

CollectNow, a delinquent loan-tracking and -collection system, is part of BankWare, Polaris' full-fledged banking software product.

The collection system provides an efficient and user-friendly environment for a bank to process its collection administration. It is a completely parameterised system that can be configured as per any organisation's needs.

Commenting on this new business relationship, Bank of Asia senior executive vice-president Chitraporn Tangsuwan says: “After evaluating options and products for the collection system, we decided to choose Polaris as our partner. The system will be one of the key components in our retail business. We, at Bank of Asia, are increasingly using technology as the key differentiator to gain competitive advantage and to create a unique value proposition for our customers.“

Polaris senior vice-president and head of business Rajiv Malhotra says: “Bank of Asia in Thailand is our second major win in the ASEAN region in less than a month's time. We are confident that our diligent mapping and opening up of the Asian banking marketplace will produce significant results, hence growing BankWare's market share significantly in the region.“

Polaris chairman-cum-managing director and CEO Arun Jain says: “With the Bank of Asia order, BankWare has notched up repeat successes in a short span of time. BankWare now enjoys strategic business relationships with premium banking corporates in Indonesia, Japan and the Middle East.“