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Ard Credit has introduced Polaris, the core banking system 2018-04-20

Press ReleaseUlaanbaatar

Ard Credit NBFI (Ard Credit) has finished introducing GrapeCity Mongolia LLC’s Polaris - a core banking system. As a result, the company is able to rapidly expand its operations, manage risks, and release administrative reports at all levels at any time. “Introducing the new banking system into our operations will provide many opportunities for us to deliver banking services to our customers within a greater scale. We have moved one step closer to the goal of becoming a public bank” – said Ch. Ganzorig, Chief Executive Officer.


General Director of GrapeCity LLC A. Suhdorj, announced that GrapeCity’s softwares are designed using the latest innovations in modern information technology, committed to developing a comprehensive banking and financial sector in Mongolia. “One of the main components in a bank’s core system is Polaris. By using this software, Ard Credit’s internal network is linked up organically in a complex framework. Polaris is the beginning, and we have a lot to do together” – said A. Suhdorj.

G. Tenuun, Ard Financial Group’s Chief Digital Officer, said: “I genuinely thank colleagues at our strategic partner GrapeCity, who have played an important role in planning and managing the implementation of the first phase of the program. This system can clearly demonstrate that Mongolia’s information technology solutions can compete globally”.

Ard Credit offers an innovative product and service range based on advanced technology to customers and works with a mission to enhance their accessibility to the market. In 2017, we raised our total assets by 80 percent to MNT 10 billion, while net profits reached 650 million, 50 percent of which has been decided to be paid out to its shareholders as dividends. Furthermore, last year we expanded our wholesale credit for microfinance institutions, rapidly increasing the growth of the Ard Credit Card.


Ard Financial Group is a diversified financial services holding company with an aim to increase its shareholders’ value through investing in and developing leading financial services companies. Our investment portfolio consists of companies such as Mongol Post, Ard Insurance, Ard Credit, Ard Securities, Ard Life, Ard Assets, Ard Management, Ard Bit, Investor Nation, TenGer Systems, Nomyn Hishig and CryptoNation. Investor Nation is a MSE quoted public company and a registered trademark of the Group. Currently, Ard Financial Group holds 81 percent stake at Ard Credit NBFI.


GrapeCity Mongolia LLC was established in 2000 and is specialized in the development of banking and payment solution software and is the leader of the domestic market in this industry.


Please, feel free to contact us with further enquiries.


HQ address:Ard Holdings, Prime Minister Amar street, Suhbaatar district, 8th horoo, Ulaanbaatar, Mongolia.

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Shangri-La branch address:Shangri-La shopping mall, 19A-C Olympic Street, Suhbaatar district 1, Ulaanbaatar, Mongolia.

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Phone: 7707-8080, 77078181

Email address: info@ardholdings.com