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Polaris Financial expands footprint in Nepalese Financial Market

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

09 Dec 2011 Evaluate

Polaris Financial Technology, a leading global Financial Technology Company and Swift Technology, a leading technology consulting firm in Nepal, have announced that Social Development Bank (SDB), a national level development bank in Nepal, has gone live with Polaris’ Intellect Core Banking Solution (CBS). Intellect CBS is a comprehensive core-banking product with multi-currency, multi-branch and multi-banking capabilities, which will transform SDB’s banking technology platform enabling it to deliver modern banking services, gaining market share and expanding its reach.

From basic core modules, general ledger, operational accounts, deposits, loans and advances, leasing, counter operations, remittances, to other more focused modules such as, pawning, debentures, securitization, loan origination, integration middleware, MIS and analytics, audit trail and access control with single sign-on, the intellect product suite supports an extensive range of banking operations to meet market specific customer needs.

The banking industry in Nepal is seeing heightened activity on both commercial and development banking side. This heightened activity along with spurt in number of banks has led to increased competition and fight for market share. Intellect CBS will help banks in Nepal overcome the challenges of regulatory reporting, multichannel banking (Internet, ATM and Mobile) and provide access to remote branches/areas. As an open platform functionally rich solution with new technological features, best performance, low TCO, scalability and flexibility, Intellect CBS is most befitting for Nepal with region specific features.

To cater to the larger Nepalese market, in addition to Intellect CBS, Polaris will also offer satellite solutions such as Anti Money Laundering (ATM) and Cheque Truncation System (CTS) in the country.

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Company Name	CMP
TCS	2472.65
Infosys	1277.35
HCL Tech.	1429.90
Wipro	203.00
Tech Mahindra	1435.80
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Polaris Financial expands footprint in Nepalese Financial Market

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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