Polaris Wins Prestigious Award for Best Payments Infrastructure Project for Mid Tier Banks

CHENNAI, India, May 9, 2012 /PRNewswire/ --

Polaris Financial Technology Ltd. (POLS.BO), a leading global Financial Technology company, announced that the company won the 'Best Payments Infrastructure Project for Mid Tier Banks' award at The Asian Banker Summit 2012 held in Bangkok, for its implementation at National Bank of Abu Dhabi (NBAD) for providing the bank with a global cross border and domestic payment platform.

NBAD required a Payment technology platform that would enable quick deployment, future scalability, automation to improve STP and enhanced customer experience. The implementation of Polaris' Intellect Payments has resulted in greater synergies and increased efficiencies due to centralization of the payments processing activities and the elimination of load on the branch back offices. The Payment application system centralizes the flow of payments that is originated or received by a customer by reuse of common infrastructure components to process payments more cost efficiently. The role of the application is to push and pull all the payment transactions with a view to achieve standardized, transparent STP processes with adequate automated controls abiding desired payment policies.

Nigel Carrington, Head of Operations, NBAD, said "We are happy to have Polaris as our technology partner, facilitating complete transformation of the way payments are handled by the bank. NBAD benefits from improved staff productivity and the ability to rollout new services and has also been able to launch additional services along with more products and services planned for the future."

Carol Wheatcroft, Associate Director Research (Technology & Operations), The Asian Banker said, "The awards programme, administered by The Asian Banker and refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind. A stringent three month long evaluation process determined the winners from across the Asia Pacific and the Middle East region."

Arun Jain, Chairman & CEO, Polaris Financial Technology Ltd. said, "We are extremely happy to receive this award as it brings to light our continuous efforts to improve Financial Technology. The award reiterates our joint efforts to offer better products & services in the market with enhanced customer experience, further increasing our growing presence in emerging markets and among other global banks. With further wins and recognitions to our credit, Polaris is proving its dominance as a specialist in the Financial Technology space."

For more info, contact: Dwaipayan Deb, +91-99625-36442, [email protected]

SOURCE Polaris Financial Technology