During our 3rd Quarter results in January 2013, the Board of Directors authorised the Management Team to explore options that would provide an impetus to the company for the next stage of its growth. The context was around leveraging untapped potential in our growth engines i.e. Services, Products and the canvas of opportunities that are available to us as a leading Specialist in the global Financial Technology arena.

In line with the stringent Governance principles the company follows, stakeholders have been updated on progress. As announced, the major legs of the restructuring process have been completed last quarter in Q3 2014.

With its singular focus on Banking & Financial Technology for over 2 decades, Polaris has built very robust and comprehensive assets to spearhead transformational projects for the BFSI vertical.

The restructuring exercise has been misconstrued by a certain section of stakeholders with repeated mention of possible sale. Despite the company clarifications, these rumours continue to surface, impacting customer relationships, distracting Management and employees.

Polaris is not for sale. The company is poised to leverage its rich assets in banking and technology to accelerate growth of its two distinct businesses – Products (Intellect) business and IT Services business.

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 more information, please visit http://www.polarisFT.com/

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