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Polaris Financial Technology shines on setting up Intellect CBS in Nilambur Co-operative Urban Bank

Polaris Consulting & Services Ltd. | IT - Software | IT & ITES | BSE: 532254 | NSE: POLARIS

24 May 2013 Evaluate

Polaris Financial Technology is currently trading at Rs. 99.70, up by 0.20 points or 0.20% from its previous closing of Rs. 99.50 on the BSE.

The scrip opened at Rs. 100.50 and has touched a high and low of Rs. 100.95 and Rs. 99.70 respectively. So far 4,113 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 147.30 on 20-Sep-2012 and a 52 week low of Rs. 96.10 on 14-May-2013.

Last one week high and low of the scrip stood at Rs. 108.75 and Rs. 98.60 respectively. The current market cap of the company is Rs. 992 crore.

The promoters holding in the company stood at 29.14% while Institutions and Non-Institutions held 29.66% and 41.21% respectively.

Polaris Financial Technology has declared that Nilambur Co-operative Urban Bank (NCUB), one of Kerala's leading Urban Co-operative Banks and Kerala's first Urban bank to implement Core Banking, has gone live with Polaris’ highly scalable Intellect Core Banking Solution (CBS). NCUB chose Polaris Financial Technology, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, to replace the bank's existing legacy system and to move towards a more proven cutting edge technology.

The company' s Intellect CBS for co-operative banks will enable NCUB to offer various Deposit and Loan products such as Savings, Current, Fixed Term, NRE, Recurring Deposits and Business, Education, Gold, Home, Mortgage and Personal Loans. The bank's customers will benefit from better banking facilities from this implementation, including parameterized product definition for fast time-to-market, dynamic launch of new products and fraud elimination and minimization without compromising system performance.

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..

Polaris Consulting Share Price

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Peers

Company Name	CMP
TCS	2581.65
Infosys	1318.60
HCL Tech.	1442.50
Wipro	204.35
Tech Mahindra	1511.85
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Polaris Financial Technology shines on setting up Intellect CBS in Nilambur Co-operative Urban Bank

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