Polaris FT Positioned as a Leader in Gartner's Magic Quadrant

New Jersey, United States and Chennai, Tamil Nadu, India, Monday, October 14,
2013 -- (Business Wire India) 
Polaris Financial Technology Limited, a leader in products, solutions and
services that enable unprecedented operational productivity for the global
Financial Services industry, today announced that Gartner, Inc. has positioned
Polaris FT in the Leaders Quadrant of the recently released 'Magic Quadrant for
International Retail Core Banking (IRCB)' report1. 
As per the report, “The evaluation began with 44 product candidates for the
Magic Quadrant for IRCB for 2013, and resulted in a qualified group of 20 vendor
and product offerings that represent the major movers in the retail core banking
system market. This final group submitted information ranging from long-term
strategies to product road maps. Additionally, Gartner conducted interviews with
nearly 85 reference banks that encompassed all vendor and product participants.
This process assists in resolving the placement of group finalists on the Magic
Don Free, Research Vice President and Ethan Wang, Research Director, Gartner
comment in the report, “The significance and long-reaching effects of core
banking solution renewal, and the relatively short tenure of bank CIOs, are
forcing these core replacement decisions into the laps of business leaders and
boardroom members. The game is changing, and not everyone is comfortable with
his or her new role, or perhaps knowledgeable enough to ask the right questions
to avoid a poor choice. Successful banks will navigate the considerable risks
associated with these replacement programs by keeping abreast of current
technology trends and the state of the vendor landscape.” 
Speaking on the occasion Mr. Arun Jain, Founder, Chairman & Group CEO, Polaris
Financial Technology Limited said, "We believe our position as a leader in
Gartner's Magic Quadrant for the fourth consecutive year, reiterates the
unprecedented productivity our Intellect suite of products have delivered. The
design of our products seamlessly connects Business, Technology and Operations,
enabling our customers to realize certain business outcomes. This has been made
possible by leveraging our 8012 FT Design Center, the world's only design center
for financial institutions. This collaborative environment is engineered to
harness the power of design and high performance financial technology, to tackle
the incredible complexity that financial institutions face.” 
Polaris' IntellectTM GUB is a pure play Service Oriented Architecture (SOA)
based application suite, comprising 9 key platforms and over 95 products, for
delivering mission critical solutions for Retail Banking, Corporate Banking,
Treasury & Liquidity Management, Core banking, Capital Markets, Asset & Wealth
Management and Insurance. As a feature-rich comprehensive enterprise banking
solution, it addresses the critical need for a scalable, flexible, secure and
customer centric core-banking platform. 
Polaris was recognized as a leader due to its ability to execute coupled with
completeness of vision.  
As per Gartner, Leaders are vendors that “tend to possess high-order market
understanding — they make it their business to monitor market trends,
funneling progressive innovation into their product road maps. About half of
this group either possess software development quality certifications (such as
CMMI)\ or are pursuing them. With few exceptions, the Leaders are progressively
"thinking small" or targeting component-based architecture as a gateway to
providing increased accessibility to the granular functionality that banks need
to drive the basis for differentiation.” 
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 Properties for a comprehensive product suite, Intellect® Global
Universal Banking (GUB) M180. Intellect® is the world's first pure play Service
Oriented Architecture (SOA) based application suite for Retail, Corporate,
Investment banking and Insurance. Its acclaimed products, solutions and services
enable unprecedented operational productivity for the global Financial Services
Industry by Building, Maintaining, Expanding and Extending highly complex and
Integrated Financial Technology Infrastructure.  
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/ 
1 Gartner, Inc.: “Magic Quadrant for International Retail Core Banking” by
Don Free, 08 October, 2013 
Gartner does not endorse any vendor, product or service depicted in its research
publications, and does not advise technology users to select only those vendors
with the highest ratings. Gartner research publications consist of the opinions
of Gartner's research organization and should not be construed as statements of
fact. Gartner disclaims all warranties, expressed or implied, with respect to
this research, including any warranties of merchantability or fitness for a
particular purpose. 
Media contact details 
Minal Sahani, Media,
Polaris Financial Technology Ltd.,
+91 9176626468,
G. Sunanthy Devi, Investor,
Polaris Financial Technology Ltd,
+91 8939933564,
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-0- Oct/14/2013 12:41 GMT
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