Polaris Financial Technology surges on launching iGTB

17 Sep 2013

Polaris Financial Technology is currently trading at Rs. 117.25, up by 1.10 points or 0.95% from its previous closing of Rs. 116.15 on the BSE.

The scrip opened at Rs. 116.95 and has touched a high and low of Rs. 118.30 and Rs. 116.80 respectively. So far 7,381 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. 120.75 and Rs. 114.60 respectively. The current market cap of the company is Rs. 1,166 crore.

The promoters holding in the company stood at 29.14% while Institutions and Non-Institutions held 29.08% and 41.78% respectively. Polaris Financial Technology has launched iGTB, the world’s first complete global transaction banking platform at Sibos, Dubai. Building on a worldwide customer base, the third generation iGTB platform with a built-in Corporate Business Exchange, enables transaction banks to position themselves as the principal bank for their corporate customers.

With the launch of the formidable Polaris third generation iGTB with built in Corporate Business Exchange, banks can power their way to Principal Banker position. The company’s iGTB will focus exclusively on transaction banking, leveraging its successful solutions across the Global Transaction Banking (GTB) market.

iGTB is a platform to seize the tremendous global transaction banking opportunity, estimated by the Boston Consulting Group at $509 billion by 2021 at a 10.4% growth rate. Polaris’ GTB division already supplies top banks across the world with Transaction Banking solutions.

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.

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