Chennai (India), September 24, 2014 :

Polaris Financial Technology Limited’s Consumer Banking Division announced today the launch of its Intellect Digital Branch solution. The World’s first App based integrated Sales, Services & Teller platform for branches will enable banks simplify banking with faster execution and effective engagement at a lower cost.

Today, customers are increasingly short on time and are constantly looking for convenience and efficiency in their interactions with the bank. They are also relying more on digital channels such as mobile and the Internet for product research, transactions and other banking activities today. It is vital for Banks to provide easy, seamless channel experience to these new age customers to drive higher levels of engagement and revenue growth. Designed in FT 8012, the world’s first Financial Technology design center, Intellect Digital Branch can enable the digital transition of any bank with its comprehensive suite of apps. In fact, just 38 key apps of the Digital Branch solution are sufficient to fully support any profitable retail branch for the bank.

Commenting on the launch of Intellect Digital Branch, Jaideep Billa, Chief Executive Officer, Global Consumer Banking Division, Polaris Financial Technology said, “The primary challenge facing banks today is to simplify banking and become the principal banker of the customer in the maze of multiple relationships held with different banks for various products. Powered by features such as 360-degree view of the client, service case resolution and role-based app Canvas, Digital Branch allows banks to capture the most out of every interaction, drive same experience across all touch points and simplify banking for their customers.”

Apart from enabling banks to drive higher customer engagement, Intellect Digital Branch also enhances frontline operational efficiency. Its key strength lies in its flexibility to offer role-based efficiency with a complete range of branch banking Apps for branch staff: from Leads to Campaign dashboard, Quick Customer Opening, Account Services, Cash transactions, to Funds transfer, and so on. It uses pre-built technology building blocks, ie apps, and can therefore readily accommodate new functionality requirements by adding on apps as required.

How Digital Branch revolutionizes customer experience

  • Relationship Building: Branches are no longer transactional in nature and are moving towards building stronger relationships with customers. To be viable, branches must now target more products per customer (MPC) by cross selling based on needs, resulting in more customers per product (MCP).
  • Simplifying branch operations: The Digital Branch solution serves up data from multiple back end product processors on a common front end. This eliminates the need to login to different applications for completing a transaction. Expert mode and smart data entry further simplifies banking operations.
  • Role-based efficiency: Allows personal bankers to create role-based work canvas for improving efficiency or toggle through screens to play universal banker role in a leaner branch format.
  • Banking at your doorstep: Digital Branch brings the bank right to the customer with remote account opening and transaction enabling on tablet for mobile relationship managers.
  • Innovation resulting in efficiency: The app-based framework allows different apps to be configured according to need. The applications are intuitive enabling banks to move away from the traditional menu based structure to apps with lower training effort and costs.

Based on state-of-the-art patented (applied for) Canvas Technology that enables CORA (Configure Once Run Anywhere) framework, Digital Branch apps can be configured once to appear on different devices such as Desktop, Mobiles and Tablets for increased customer centricity maximizing the IT RoI for the bank.

About Polaris Consulting & Services Ltd

Polaris Consulting and Services Ltd, is a global leader in Financial Technology for Banking, Insurance and other Financial Services. With a strong strategic consulting focus backed with high performance delivery in Digital Enterprise ; Payments ; Risk & Compliance ; Data & Analytics, the Services business is strongly differentiated, with a formidable reputation in Global Consumer Banking, Treasury & Capital Markets, Global Transaction Banking, Insurance and Enterprise Commerce.

Organised into six client-centric units and multiple solution-centric units across the world, Polaris Consulting & Services is represented by over 8,300 solution architects, domain and technology experts. For more details, please visit www.polarisft.com

For Media related info, please contact:
Nachu Nagappan
Polaris Financial Technology Ltd
Mob: +91 89396 19676
Email: nachu.nagappan@polarisft.com