Polaris’ Real Time Payments Hub Rated a ‘Best in Class’ Provider for Payments Operations in Independent Research Group’s

  Polaris’ Real Time Payments Hub Rated a ‘Best in Class’ Provider for
  Payments Operations in Independent Research Group’s Payment Hubs Report

Business Wire

JERSEY CITY, N.J. & LONDON & CHENNAI, India -- December 2, 2013

Polaris Financial Technology Limited, a leader in products, solutions and
services that enable unprecedented operational productivity for the global
Financial Services industry, recently announced that its Payments Hub from its
iGTB division received a ‘Best in Class’ recognition for Payments Operations
in CEB TowerGroup’s annual Payment Hubs Technology Analysis report, 2013.

As a real-time payments solution that minimizes operational risk and improves
the Straight Through Processing rate to over 90%, Polaris’ Payments Hub
provides superior customer experience though a channel agnostic service layer
with the flexibility to configure to meet changing customer needs, regulatory
reforms and operational arrangements. With a 360° view of corporate activities
related to payments, it offers better risk management, supports centralized
control of global payments operations and its robust exception handling
process and AML and fraud management capability reduce Exception and
Investigation and manpower costs.

Payments Hub orchestrates payment messages received from front-end channels
through to final clearing and settlement. The solution has various built-in
components like a messaging engine, STP accelerator, rules engine and workflow
modeler that ensure seamless payment processing. It can act as both middleware
to orchestrate payment workflows by sitting on top of a payment processor, as
well as a single end-to-end platform for processing all payments types
initiated from various channels.

CEB TowerGroup, Research Director, Andy Schmidt said, “Banks are looking for
payment hub solutions that are both flexible and capable of processing
payments from any front-end channel all the way through to final clearing and
settlement. Market-leading solutions enhance these capabilities by adding
tools like dashboards and alerting capabilities to not only give users
visibility into the bank’s payment activity, but also generate alerts
delivered across a variety of channels both inside and out of the bank.”

Manish Maakan, Chief Executive Officer, Polaris iGTB said, “Being recognized
as ‘Best in Class’ for our Payments Hub stands testimony to the efficiency of
our product, enabling users to manage the entire payment lifecycle from end to
end. In our opinion, the highly scalable architectural design of the Payments
Hub, its breadth of functionality and its cutting edge technology is indeed
the new standard in payments solutions worldwide. This recognition
substantiates our continued focus on offering innovative products to leading
financial institutions worldwide.”

Additionally, CEB noted the following attributes:

  *Real-Time Dashboard: a dashboard for users with the appropriate
    authorization to monitor all payment activity within the bank. A major
    differentiator is that the dashboard includes widgets that display
    information through statistical charts that can be configured on a
    user-level basis.
  *Alerts: a native alerts and notification module to create email or text
    message based alerts and notifications. Such alerts can be configured for
    internal or external usage. Rules to manage alerts can be created and
    modified via configuration through a graphical GUI.
  *Product Testing: Polaris Application Certification Enterprise (PACE), a
    1,650+ person strong practice, is the independent testing, validation,
    verification and certification arm of Polaris. It is the centralized
    testing organization that provides a wide range of testing services from
    pure-play testing to performance engineering and test process consulting.

Technology Assessment Disclaimer

CEB does not endorse any vendor, product or service depicted in our CEB
TowerGroup publications and does not advise technology users to select only
those vendors rated “best in class.” CEB TowerGroup research publications
consist of the opinions of CEB TowerGroup’s analysts and should not be
construed as statements of fact. CEB disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.

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/

Contact:

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