Land Bank of the Philippines Goes Live with Polaris' Intellect® Trade Finance Solution

  Land Bank of the Philippines Goes Live with Polaris' Intellect® Trade
  Finance Solution

   Accelerated Implementation of complete Trade Finance application for the
                 largest bank in Philippines in just 6 months

Business Wire

MANILA, Philippines & CHENNAI, India -- April 8, 2013

Polaris Financial Technology Ltd, a leader in products, solutions and services
that enable unprecedented operational productivity for the global Financial
Services industry, today announced that LANDBANK, the fourth largest bank in
Philippines and the largest government bank in the country, has gone live with
Polaris’ Intellect^® Trade Finance Solution to reduce operational cost and
improve productivity. Polaris’ Intellect Trade Platform went live with all its
products viz. Documentary Credits, Guarantees, Bills, Collections, Trade
Loans, Open Account, Advance Payments and Direct Remittances.

LANDBANK is by far the largest formal credit institution in rural Philippines,
ranking among the top five commercial banks in Philippines in terms of
deposits, assets, loans and capital. Its credit delivery system is able to
penetrate a substantial percentage of the country's total number of
municipalities. The bank also has the reputation of being one of the strictest
with regard to guidelines and evaluation standards followed.

Polaris’ Intellect Trade Finance Solution will be LANDBANK’s new Trade Finance
platform. The web-based solution for Trade Finance Process, not only
integrates with multiple systems, but also offers a plethora of value added
services such as a fully integrated workflow and imaging solution for
processing Trade Finance transactions in real time and in compliance with
Central Bank (BSP) regulations.

The implementation of Polaris’ multi country solution enhances the existing
processing and reporting practice at LANDBANK by offering highly automated
web-based trade finance services, complete life cycle processing for Letter of
Credits, bills, trade loans and guarantees processing, seamless interfacing
with partner systems, reduction in operational costs, higher trade revenues,
high productivity and better SLAs.

Conrado B. Roxas, First Vice President for Banking Operations, LANDBANK said,
“With Polaris as our technology partner, we hope to strengthen our position in
the market and reduce our overall operational costs. Polaris’ solution will
provide a potential of net savings due to reduction in system annual
maintenance fees and manpower costs. The reduced processing time will likewise
allow us to provide higher customer satisfaction and enhanced service.”

Speaking on the occasion, Supriyo Sircar, Head – Asia Pacific Business,
Polaris Financial Technology Ltd. said, “We are delighted to complete the
implementation of our Intellect Solution at LANDBANK within a short period of
six months. Our single and comprehensive trade finance platform catering to
needs of more than 80 countries across the globe, processes a comprehensive
range of trade finance instruments. Intellect Trade Finance Platform with its
rich features offers the bank end to end trade management, enabling LANDBANK
to quickly roll-out a Global Trade Processing application.”

About The Land Bank of the Philippines

The Land Bank of the Philippines is a government financial institution that
strikes a balance in fulfilling its social mandate of promoting countryside
development while remaining financially viable. This dual function makes
LANDBANK unique. The profits derived from its commercial banking operations
are used to finance the Bank's developmental programs and initiatives.

Over the years, LANDBANK has successfully managed this tough balancing act as
evidenced by the continued expansion of its loan portfolio in favor of its
priority sectors: the farmers and fisherfolk, small and medium enterprises and
microenterprises, livelihood loans and agribusiness, agri-infrastructure and
other agri- and environment-related projects, socialized housing, schools and
hospitals.

LANDBANK also ranks among the top five commercial banks in the country in
terms of deposits, assets, loans and capital. From its initial role as the
financing arm of the agrarian reform, LANDBANK has evolved into a full-service
commercial bank. But the essence of its existence has not changed at all - and
that is to make the countryside continuously throb with life. For more
information, please visit https://www.landbank.com/index.asp.

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), New Zealand, Paris, Pittsburgh, Pune,
Riyadh, Santiago, San Francisco, Seoul, Shanghai, Singapore, St. Germain En
Laye, Sydney, Thane, Tokyo, Toronto, Victoria, Wellington (New Zealand) and
Wicklow. For more information, please visit http://www.polarisFT.com/.

Contact:

Polaris Financial Technology Ltd
For Media related info:
Minal Sahani
Mobile: +91 91766 26468
minal.sahani@polarisFT.com
or
For Investor related info:
G. Sunanthy Devi
Mobile: +91 8939933564
sunanthy.g@polarisFT.com
 
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