Press release from Business Wire India
Source: Polaris Software Lab Limited
Wednesday, February 09, 2011 02:07 PM IST (08:37 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Information technology, Media & entertainment; Technology
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IntellectTM Payments Services Hub Receives XCelent Award
Sophisticated payment orchestration functionality, real-time reporting and monitoring and multi-entity management capabilities set the solution apart from its competitors
Chennai, Tamil Nadu, India, Wednesday, February 09, 2011 -- (Business Wire India) -- Polaris Software, a leading Financial Technology company, today announced that Celent has awarded Polaris the "XCelent Award" for its Breadth of Functionality in the research firm's 2010 Payment Services Hub Vendors Report. The report1'Evaluating the Payment Services Hub Vendors - The Vision Is Getting Closer' details the payment space and examines the chosen global vendors, describing vendor landscapes, their characteristics and offerings.
Polaris was among the 9 payment services hub vendors selected for review by Celent for the application of its ABCD Vendor View framework, which shows at a glance the relative position of each vendor in four categories: Advanced technology, Breadth of functionality, Customer base and Depth of financial institution services.
Scoring the highest in the breadth of functionality dimension, Polaris outpaced all the other surveyed vendors with its solution. According to the report, "Based on such criteria, Polaris deserves the XCelent Functionality award. Its solution has an impressive connectivity layer, connecting to over 40 ACH and over 30 large value systems around the world. Distinctly, it also has ready adapters to directly connect to the client's ERP systems and has sophisticated capabilities to handle mixed files." The company also scored high on geographic diversity with large global banks as clients dominating its client base. "Large and medium-sized banks who are looking to keep their existing payment processing solutions, but would like to add a payments orchestration layer, should include Polaris IntellectTM Payment Services Hub onto their shortlist." the report further added.
Speaking on the occasion, Arun Jain, Chairman & CEO, Polaris Software said, "We are proud of our dedicated payment orchestration features that has won us an XCelent Functionality award. This recognition demonstrates our efficient service delivery model that puts us up in the front of the pack. Our high scores in the report substantiate our partnership with the top 8 out of the 10 banks in the world. Recognitions such as these only reaffirm our continued focus towards Financial Technology and drive us to be a bellwether in the FT space."
1" Evaluating the Payment Services Hub Vendors - The Vision Is Getting Closer", by Zilvinas Bareisis, December 2010
About Polaris Software Lab
Polaris Software Lab (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 10,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, IntellectTM Global Universal Banking (GUB) 10.0. IntellectTM is the first pure play SOA based application suite for Retail, Corporate, Investment banking and Insurance.
Polaris is headquartered in Chennai and has offices in all global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York, Chicago, Fremont, Pittsburgh and Chile. For more information, please visit http://www.polarisFT.com/
CONTACT DETAILS
Shailesh Dhawla, Polaris Software Lab, +91 9711811460, shailesh.d@polaris.co.in
Dwaipayan Deb, Polaris Software Lab, +91 9962536442, dwaipayan.d@polaris.co.in
KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
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