Polaris Financial Technology Ltd.
Tuesday, November 19, 2013 02:14 PM IST (08:44 AM GMT)
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Polaris’ Customer Business eXchange Rated ‘Best In Class’ in Independent Research Group’s Commercial Online Banking Report
Polaris’ Intuitive Front-end Solution with Omni-channel role-based efficiency recognized as Best-in-Class for User Experience and Design & Security

New Jersey, USA, London, UK and Chennai, Tamil Nadu, India, Tuesday, November 19, 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 the Customer Business eXchange (CBX) product from its iGTB division was recognized as a ‘Best in Class’ offering for User Experience and Design & Security. Polaris earned this recognition in CEB TowerGroup’s annual Commercial Online Banking Technology Analysis report.

With CBX, the Configure-Once, Run-Anywhere (CORA) and Information, Analytics, Decision and Transaction (IADT) paradigms can help create role-based interfaces with configurable and self-sustained applications that provide a unique customer experience through an Omni-channel solution for mobile devices and tablets as well as online. These applications are offered to the bank’s corporate or retail customers within customizable, self-contained business services that are context aware and automatically enforce entitlements. The solution does not require banks to invest heavily in portal technologies as the apps can exist in simple application server containers and coexist with other external apps as well. These apps provide a unique aggregated view of the entire relationship of the corporate with the bank and help the bank to introduce new products on the fly, resulting in more revenue streams.

Joanne Pollitt, Senior Director, CEB TowerGroup said, “Polaris’ CBX is a flexible, communication-based online banking solution for commercial banks structured around the user’s ability to communicate. The ability to include a wide range of modules within the offering from the Polaris product line allows the bank to support all corporate services through a single offering and common interface. The solution also provides analytics capabilities to track and store user preferences, and to support the bank in cross-sell and other business initiatives.”

Speaking at the occasion, Manish Maakan, Chief Executive Officer, Polaris iGTB said, “We are honored to be ranked ‘Best in Class’ by CEB TowerGroup analysts. Our revolutionary CBX solution delivers role-based efficiency with extensive analytics for decision making, enabling banks to address the needs of their employees and customers with greater agility and assurance. Banks are continuously evolving their focus on customers to drive user-centric experiences that empathize with their roles played while interacting with the bank’s service platforms. Being recognized as ‘Best in Class’ for User Experience and Design & Security validates our continued focus on design and innovation to reduce complexity in financial institutions.”

Polaris’ CBX is an installed multi-currency and multi-lingual commercial banking solution, which supports the following product lines: payments, liquidity, collection & receivables, trade, supply chain finance, and treasury. With a configurable user interface for both banks and corporate users, the solution allows individuals to create multiple workspaces depending on their daily or weekly needs. CBX integrates to the full range of Polaris’ commercial banking products as required. The following product attributes were highlighted in the CEB TowerGroup analysis:

Financial Technology Message Hub: Polaris offers a configurable middle-ware solution based on SOA to allow banks to interface CBX with legacy, core, and third-party systems. The hub models transaction flows with various message types to communicate with external host systems.

Extended Fraud Management Capability: For primary fraud prevention, CBX integrates into a firm’s existing fraud management system. In addition though, banks can configure the solution to provide user notifications of specific fraud actions and provides a configurable audit log of all user activity within the system for easy tracking.

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 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/

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