Polaris Financial Technology surges on launching FT 8012

Polaris Financial Technology is currently trading at Rs. 117.50, up by 1.90 points or 1.64% from its previous closing of Rs. 115.60 on the BSE.

The scrip opened at Rs. 116.95 and has touched a high and low of Rs. 118.40 and Rs. 116.10 respectively. So far 11756 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 161.35 on 12-Apr-2012 and a 52 week low of Rs. 102.80 on 23-May-2012.

Last one week high and low of the scrip stood at Rs. 119.65 and Rs. 114.00 respectively. The current market cap of the company is Rs. 1172.24 crore.

The promoters holding in the company stood at 29.15% while Institutions and Non-Institutions held 28.39% and 42.46% respectively.

Polaris Financial Technology, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, has launched its 8012 FT Design Center - the world's first Center dedicated to Financial Technology. The Center was inaugurated by Michael Harte, Group Executive, Enterprise Services and Chief Information Officer, Commonwealth Bank of Australia, in Chennai recently.

The event was attended by banking and technology experts from across the globe. 8012 FT Design Center is spread over 30,000 sq. ft and is located in the 22 acre Polaris campus on the IT Highway in Chennai. The Center is the culmination of over two decades of the company's singular focus on the Banking and Financial Services vertical and stands testimony to Collaborative Design emerging as the next big game changer for Financial Technology and Financial Institutions.

Financial Technology is arguably the most complex business globally, replete with changing paradigms in Customer Experience, Operational Efficiency, Performance, Analytics, Risk Mitigation, Integration and Security domains. With the rich experience and expertise developed over decades working with global Financial Institutions, Polaris has invested in creating 8012 - a Center for Collaborative Design, dedicated to developing Financial Technology and reducing complexity.

Polaris is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking. Polaris services over 200 banks across the world, including 9 of the top 10 banks, with a comprehensive suite of products, services and consulting offerings.