Karur Vysya Bank chooses Polaris' Intellect® Global Transaction

Chennai, Tamil Nadu, India, Wednesday, February 13, 2013 -- (Business Wire
India) 
Polaris Financial Technology Ltd (POLS.BO), a leader in products, solutions and
services that enable unprecedented operational productivity for the global
Financial Services industry, today announced that Karur Vysya Bank (KVB), one of
the leading private banks in India, has chosen to implement the Polaris
Intellect® Global Transaction Banking (GTB) solution to enable the launch of
its green-field operations in Transaction Banking. Polaris' next-gen GTB
solution covers Cash Management, Supply Chain Finance and a Banking portal
making it an ideal solution to meet the growing needs of banks.  
The Intellect GTB solution is the most comprehensive enterprise transaction
banking architecture developed to deliver unprecedented productivity through
every stage of operations. Whether Securities, Cash Management, Liquidity
Management, Trade Finance, or Treasury, the Intellect GTB solution is distinctly
superior in design and functionality.  
Shri Venkataraman, Managing Director & Chief Executive Officer, Karur Vysya Bank
said, “Transaction Banking is an important new initiative from KVB flowing
from our centenary vision. We are glad to have Polaris, a leader in global
transaction banking, as our strategic technology partner in our growth plans.
Clear demonstration of domain knowledge and thought leadership in the
transaction banking space, product readiness for the Indian market and clear
difference in design and technology were key factors for choosing Polaris'
Intellect GTB solution.”  
Commenting on the win, Mr. Arun Jain, Chairman & CEO, Polaris Financial
Technology Ltd said, “Polaris is privileged to partner with Karur Vysya Bank,
one of the trend-setters in today's banking world, to offer them Intellect®
Global Transaction Banking (GTB) solution. This technology partnership with KVB
comes at an opportune time as, in the current global economic scenario, banks
worldwide are focusing on transaction banking for more stable annuity revenue
with lower risks. However, given the competition in this space and low margins,
technology and innovation are driving banks' revenue. KVB's choice of the
Polaris Intellect GTB solution is recognition of our ability to enable
unprecedented operational productivity through complexity reduction. This
engagement strengthens our presence in the GTB space.” 
About Karur Vysya Bank Ltd 
The Karur Vysya Bank Ltd carries with it a tradition of 96 years and yet is
young enough to adapt itself to the rapidly changing scenario in the banking
industry. It was started in the year 1916 in Karur, then a small textile town
with a vast agricultural background, by two illustrious sons of the soil – Sri
M.A. Venkatarama Chettiar and Sri Athi Krishna Chettiar. What started as a
venture with a seed capital of Rs. 1.00 lakh has grown into a leading financial
institution that offers the wide gamut of financial services to millions of its
customers under one roof. 
Karur Vysya Bank has been taking giant leaps in providing value based products
and services backed by technology for the convenience of its customers. The bank
provides a range of tailor made products meant for individuals, corporates and
SMEs. Technology backed services like Mobile Banking, Internet Banking, Money
transfers besides a branch network of 442 and ATM network of 765 provide
seamless service to the customers. For more information, please visit
www.kvb.co.in  
About Polaris Financial Technology Ltd 
Polaris Financial Technology Ltd (formerly known as Polaris Software Lab Ltd)
(POLS.BO) is a leader in Products, Solutions and Services that enable
unprecedented operational productivity for the global Financial Services
industry with its comprehensive portfolio of products and services. Polaris has
a talent strength of over 13,000 solution architects, domain and technology
experts. The company owns the largest set of Intellectual Properties for a
comprehensive product suite, Intellect® Global Universal Banking (GUB) M180.
Intellect® is the first pure play Service Oriented Architecture (SOA) based
application suite for Retail, Corporate, Investment banking and Insurance.  
Headquartered in Chennai, Polaris has offices in all global financial hubs,
including Bangalore, Belfast, Chennai, Chicago, Dhaka, Dublin, Dubai, Frankfurt,
Hong Kong, Ho Chi Minh City, Hyderabad, Kuala Lumpur, Lisle, London, Madrid,
Manila, Melbourne, Mississauga, Mumbai, Nairobi , Neuchatel, New Delhi, New York
(New Jersey), Paris, Pittsburgh, Pune, Riyadh, Santiago, San Francisco, Seoul,
Shanghai, Singapore, St. Germain En Laye, Sydney, Thane, Tokyo, Toronto,
Victoria and Wicklow. For more information, please visit
http://www.polarisFT.com/ 
Media contact details 
Minal Sahani, Media,
Polaris Financial Technology Ltd.,
+91 9176626468,
minal.sahani@polarisFT.com 
G. Sunanthy Devi, Investor,
Polaris Financial Technology Ltd,
+91 8939933564,
sunanthy.g@polarisFT.com 
R Kannan,
The Karur Vysya Bank Ltd,
04324 -226520,
kvbshares@kvbmail.com 
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-0- Feb/14/2013 05:02 GMT