Polaris Launches Advanced Payments Hub at Sibos 2013 in Dubai

Dubai, United Arab Emirates, Wednesday, September 18, 2013 -- (Business Wire
India) 
Polaris Financial Technology Limited's Global Transaction Banking division
(iGTB), provider of the world's first complete Global Transaction Banking
platform, today announced the launch of its Payments Hub solution at Sibos 2013
in Dubai. 
The Payments Hub combines transaction processing on a channel agnostic platform
with the flexibility to configure to meet changing customer needs, regulatory
reforms and operational arrangements. It is capable of achieving Straight
Through Processing (STP) rates of well over 90% across high volume and high care
payments through data validation and enrichment driven by rules.  
Operational risks can be reduced by around 20%-25% using a configurable
Exceptions Management Framework which offers complete audit and control. The
solution offers new revenue generation opportunities with value added services
with options such as: providing the most economical mode of payment;
facilitating rush payments; offering an e-credit facility and more. Real-time
status reports are provided to help enhance service levels and increase fee and
interest income.  
Mr. Manish Maakan, CEO, iGTB, Polaris Financial Technology, said, “The
advanced Payments Hub is a single source of truth for all payment transactions,
because it enables users to manage the entire payment lifecycle from end to end.
This changes the introduction of new channels and new processes from slow, hard
or impossible to easy and fast. Deployment-ready adaptors for major ERP and EDI
formats accelerate on-boarding and adoption by new corporate customers. The
solution's simple GUI facilitates easy configuration of new formats, customer
specific rules and business processes. In addition to this, local clearing
formats like NACHA, FEDWIRE, SEPA, FPS, etc., are all supported, dramatically
easing entry into new countries. This is why the Payments Hub was awarded
‘Best-in-class in Payment Operations' by the Tower Group.” 
The highly scalable architectural design of the Payments Hubs' enables high
performance throughputs, coupled with an easily configurable business rule
processor. The configuration of different payment systems into the Payments Hub
results in significant hardware and maintenance cost savings. With a 360° view
of corporate activities related to payments, the Payments Hub offers better risk
management, supports centralized control of global payments operations and
reduces manpower costs.  
Polaris' advanced payments hub is ranked highly by Celent because of its breadth
of functionality as well as its cutting edge technology and is indeed the new
standard in payments solutions worldwide. 
About Polaris Financial Technology Ltd 
Polaris Financial Technology Limited is a global leader in Financial Technology
for Banking, Insurance and other Financial Services. With over 25 years of
expertise in building a comprehensive portfolio of products, smart legacy
modernization services and consulting, Polaris owns the largest set of
Intellectual Property for a comprehensive product suite. iGTB is the world's
first complete Global Transaction Banking platform, used by the world's top
transaction banks.  
This makes Polaris the chosen partner for 9 of the top 10 global banks and 7 of
the top 10 global insurance companies. The company has a global presence through
its 40 relationship offices across 30 countries, 6 international development
centers and 8 fully owned Business Solution centers. Polaris has a talent
strength of over 13,000 solution architects, domain and technology experts. For
more information, please visit http://www.polarisFT.com/ 
Media contact details 
Minal Sahani,
Polaris Financial Technology Ltd.,
+91 9176626468,
minal.sahani@polarisFT.com 
G. Sunanthy Devi, Investor,
Polaris Financial Technology Ltd,
+91 8939933564,
sunanthy.g@polarisFT.com 
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-0- Sep/19/2013 04:59 GMT