The National Bank of Abu Dhabi yesterday announced it has selected India's Polaris Software Lab to provide a new core banking system.
"The Polaris solution is a fully integrated and more customer-centric system that will take forward our growth for the next 15 to 20 years. We are investing substantially in this new system," said Michael H. Tomalin, the bank's chief executive.
"I am proud that the National Bank of Abu Dhabi [NBAD] has chosen our Intellect software for its core banking requirements. We are committed to making this implementation a success.
"Intellect will provide NBAD a technology platform that is flexible, scalable and efficient," said Koen Van Den Brande, head of Polaris' product group.
Polaris is a Chennai-based company. It is confident about its prospects in the UAE and the region.
"We have at least three to four deals in the pipeline with some banks," said Bikash Mathur, Polaris' senior vice-president for the Asia-Pacific region.
"The growth of Islamic banking and some other factors will fuel growth here," he said. Polaris has deals in the UAE, Kuwait, Bahrain, Saudi Arabia, Egypt and Oman.
"The Middle East now accounts for only 5 per cent of total revenues, but we see fast growth in this region in the next 3 to 4 years," he said.
Polaris has deals in the UAE, Kuwait, Bahrain, Saudi Arabia, Egypt and Oman.
Gulf News
