Polaris implements core banking solution at Philippines' MAXBANK

Polaris Financial Technology successfully implemented its state of the art Intellect Core Banking Solution at MAXBANK.

This will fulfill the microfinance oriented thrift bank's requirement of a central system that will proficiently manage the bank's multiple product portfolio comprising General Ledger, CASA, Loans and Advances, Deposits along with Financial Reporting Package.

Polaris has implemented the fastest Core Banking implementation at a thrift bank in just 4 weeks.

The solution provides the bank with access control and hierarchy to help it define accurate access rights for users. Intellect CBS' Outward Clearing feature will help the bank systemize the process of cheque clearance and posting, providing clients with the advantage of not having to post the cheque individually to their respective accounts.

This implementation will enable the bank to disburse loans at the branch level and bring it close to its customers through branch empowerment. Polaris' Financial Reporting Package will enable the bank to submit their Central Banking reports efficiently within the requisite timeframe, facilitate easy extraction of reports and will reduce the turnaround time for new product launches, giving the Bank Speed-to-Market and competitive advantage.

Mr. Maximilian Oppacher, Chairman of the Board,MAXBANK said, "The rapid implementation of the solution enables us to be efficient and streamline our whole operations, thereby providing enhanced service to our customers."

Mr. Supriyo Sircar, Head - Asia Pacific, Polaris Financial Technology Ltd said that Intellect Core Banking Solution will provide the bank with a flexible system, helping the bank overcome its challenges and gain competitive advantage in the marketplace."