Polaris Financial Technology's Global Transaction Banking division (iGTB), provider of the world's first complete Global Transaction Banking platform, has launched its advanced Payments Hub solution at Sibos 2013 in Dubai. The Payments Hub combines transaction processing on a channel agnostic platform with the flexibility to configure to meet changing customer needs, regulatory reforms and operational arrangements. It is capable of achieving Straight Through Processing (STP) rates of well over 90% across high volume and high care payments through data validation and enrichment driven by rules.
Operational risks can be reduced by around 20%-25% using a configurable Exceptions Management Framework which offers complete audit and control. The solution offers new revenue generation opportunities with value added services with options such as: providing the most economical mode of payment; facilitating rush payments; offering an e-credit facility and more. Real-time status reports are provided to help enhance service levels and increase fee and interest income.
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.