Mandates and payments roundup, July 26

Sonali Bank and Bangladesh Commerce Bank implement a core banking solution from Polaris, while SunGard partners with CCS to build a new commercial lending solution.

Polaris wins mandate and partners with Sonali Bank and BCBL

Bangladesh’s Sonali Bank and Bangladesh Commerce Bank BCBL have both chosen to implement an end-to-end banking solution from financial technology company Polaris Software. The three parties have also signed a memorandum of understanding to form a joint venture company called Sonali Polaris Financial Technology to help banks in Bangladesh adopt new banking technologies and practices.

The new joint venture will allow Polaris to take advantage of the emerging market in Bangladesh according to Arun Jain, chairman and chief executive of Polaris. “This innovative co-creation model’ has helped us transcend the traditional vendor role allowing us to effectively...

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