Polaris' Real Time Payments Hub Rated a ‘Best in Class' provider

New Jersey, United States of America, London, United Kingdom and Chennai, Tamil
Nadu, India, Monday, December 02, 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, 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/ 
Media contact details 
Minal Sahani, For Media related info,
Polaris Financial Technology Ltd.,
+91 9176626468,
minal.sahani@polarisFT.com 
G. Sunanthy Devi, For Investor related info,
Polaris Financial Technology Ltd.,
+91 8939933564,
sunanthy.g@polarisFT.com 
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-0- Dec/02/2013 13:18 GMT
 
 
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