Chennai (India), April 02, 2014:

Palakkad District Cooperative Bank. Ltd (PDCB) has gone live with Polaris highly scalable Intellect Core Banking Solution (CBS). PDCB chose Polaris Financial Technology Ltd. to replace the bank's existing legacy system and to move towards a more proven cutting edge technology, the company said in a press release on Monday.

This solution empowers customers to avail services of the bank cutting across all branches by removing the dependency on home branch. This unique solution is perfectly suited to develop, modify and launch innovative products and services, thereby improving the go-to-market time-line in the region.

As a web-enabled, enterprise platform rich in functionality covering the entire gamut of banking operations, Intellect CBS will provide the bank a comprehensive 360 degree view of all customer holdings on a single screen. It facilitates various deposit and loan products such as savings, current, fixed term, NRE, recurring deposits and business, education, gold, home, mortgage and personal loans.

Palakkad District Cooperative Bank. Ltd (PDCB) has gone live with Polaris highly scalable Intellect Core Banking Solution (CBS). PDCB chose Polaris Financial Technology Ltd. to replace the bank's existing legacy system and to move towards a more proven cutting edge technology, the company said in a press release on Monday.

This solution empowers customers to avail services of the bank cutting across all branches by removing the dependency on home branch. This unique solution is perfectly suited to develop, modify and launch innovative products and services, thereby improving the go-to-market time-line in the region.

As a web-enabled, enterprise platform rich in functionality covering the entire gamut of banking operations, Intellect CBS will provide the bank a comprehensive 360 degree view of all customer holdings on a single screen. It facilitates various deposit and loan products such as savings, current, fixed term, NRE, recurring deposits and business, education, gold, home, mortgage and personal loans.

Additionally, the On-Line Transaction Posting (OLTP) and report generation capability of Intellect CBS equips the head office to simultaneously monitor the various happenings that in turn enables better administrative control over the affairs of the branches. Furthermore, timely submission of accurate data, MIS reports to RBI, state government and other statutory bodies are accomplished through Intellect CBS.

Speaking at the occasion, R. Chinnakuttan, president, Palakkad District Cooperative Bank Ltd said, "Polaris central deployment provided the bank with enhanced business and branch expansion at the lowest possible cost. The successful implementation of Polaris Intellect CBS has helped us benefit from best global practices, which in turn will help us provide exemplary customer service, streamline operations and bring us in proximity with our customers."

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 Consumer Banking (iGCB) 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 11,500 solution architects, domain and technology experts.

For Media related info, please contact:
Nachu Nagappan
Polaris Financial Technology Ltd
Mob: +91 89396 19676
Email: nachu.nagappan@polarisft.com
For Investor related info, please contact:
Praveen Malik
Polaris Financial Technology Ltd
Mob: +91 89397 82837
Email: praveen.malik@polarisFT.com