ADCB, which is 58.08% owned by the Abu Dhabi Government, said that the new configurable Intellect LMS manages the complete loan servicing and allows it to deliver improved customer experience across consumer loan products.
Equipped with parameterized product definition and modular system, the support features collateral management, structured repayment and automated delinquency tracking.
Compatible with the bank’s existing eco-system, the loan management platform caters the power to "click and launch" new lending products to fulfill the growing market requirements.
Polaris Financial Technology Middle East and Africa (IMEA) Indian Subcontinent executive vice president K Srinivasan said that the system will lessen the complexities faced by the bank, enhancing its customer servicing levels.
"Mortgage financing along with the other lines of consumer loan business are now initiated on Polaris’ LMS, helping the bank achieve their objective of using a single window LMS," Srinivasan added.
The platform performs loan creation, disbursal, maintenance, repayment schedule tracking, accounting, prepayment processing, delinquency and charge off processing.
Established in 1985, ADCB serves more than 480,000 retail customers and about 38,000 corporate and SME clients and delivers retail banking, wealth management, private banking, corporate banking, commercial banking, cash management services.
