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Polaris’ Customer Business eXchange (CBX) Cited as One of Only a Few Vendors that has Built Omnichannel Apps

December 10, 2013 - New Jersey, United States, London, United Kingdom And Chennai, Tamil Nadu, India

Polaris Financial Technology Limited, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, announced that Forrester Research, Inc. featured the Customer Business eXchange (CBX) product from its iGTB division amongst Internet and Cross-Channel Banking Solution providers. Polaris’ CBX from iGTB was cited in Forrester Research, Inc.’s October 2013 report titled “Market Overview: Off-the-shelf Channel Banking Solutions can Differentiate and Manage Cost”.

To help application delivery teams involved in selecting and delivering channel solutions for Internet, cross-channel, and mobile banking solutions, Forrester surveyed fifteen vendors who have a total of fourteen Internet/cross-channel banking solutions and nine mobile banking offerings.

Analyzing the Internet and cross-channel function-rich banking solutions, the Forrester report mentions that, while a number of vendors offer mobile apps, only a few — such as Polaris — have built omnichannel apps. Polaris’ solution includes apps that can carry metadata for using the apps in different channels. Polaris was cited along with other vendors as offering broader solutions that support both web and mobile channels and also directly supports additional channels, including ATM, branch, call center, kiosks, or some combination thereof.

Speaking at the occasion, Manish Maakan, Chief Executive Officer, Polaris iGTB said, “We believe that the recognition by Forrester of iGTB as one of only a few vendors that has built omnichannel apps is a clear reflection of iGTB’s growing footprint in the financial technology space. With a configurable user interface for both banks and corporate users, CBX provides a unique customer experience through an Omni-channel solution for mobile devices and tablets as well as online. Leveraging CBX, both corporate and retail customers can have all their transaction needs seamlessly integrated or deploy just one element to improve an existing offering, through a consolidated next generation portal for the corporate user. We believe that the citation in this well-researched and comprehensive report underlines our growing position as the ideal technology partner for global financial institutions.”

Forrester reports the business functionality of Polaris’ CBX as having (close to) strong capabilities in retail banking requirements, corporate banking requirements and private banking requirements, and mobile payment capabilities, product catalog and single view on the customer. Polaris’ solution also displayed (close to) strong capabilities in the Hybrid Apps, Web Apps, and NFC support in the mobile channel support category, CX configuration and CX personalization in the customer experience category, and Back-end integration tools in the process and integration category.

Forrester defines a cross-channel banking platform as, “A front-end solution that enables interactions and transactions via the web and other channels in a cross-channel fashion, works with existing back-end solutions such as core banking to deliver their functionality, and potentially offers additional front-end-specific capabilities such as account aggregation, content management, or product overviews and infrastructure for purposes like security and integration.”

Polaris’ CBX is an installed multi-currency and multi-lingual commercial banking solution meeting that definition, which supports the key product lines including payments, liquidity, collection & receivables, trade, supply chain finance, and treasury, and so allows banks to bridge the gap between product processing engines, organized for efficiency, and serving the corporation’s or individual’s value-chain needs, often cutting across multiple products.

About Polaris Financial Technology Ltd

Polaris Financial Technology Limited is a global leader in Financial Technology for Banking, Insurance and other Financial Services. With over 25 years of expertise in building a comprehensive portfolio of products, smart legacy modernization services and consulting, Polaris owns the largest set of Intellectual Property for a comprehensive product suite. iGTB is the world's first complete Global Transaction Banking platform, used by the world's top transaction banks.

This makes Polaris the chosen partner for 9 of the top 10 global banks and 7 of the top 10 global Insurance companies. The company has a global presence through its 40 relationship offices across 30 countries, 6 international development centers and 8 fully owned Business Solution centers. Polaris has a talent strength of over 13,000 solution architects, domain and technology experts. For more information, please visit

Source: Business Wire India


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