New Delhi (India), Jun 05, 2014:

IT services firm Polaris Financial Technology said it has won a deal from Sweden's central bank, Sveriges Riksbank, to implement its banking solutions.

Collateral Management System is part of the Chennai-based firm's Intellect Quantum banking suite of central bank solutions. Financial details of the deal were not disclosed.

"Collateral Management System will support Riksbank's services for Swedish payments system, open market operations, bank credit operations and agency central bank arrangements," Polaris Fin Tech said in a statement.

Riksbank Collateral Management System will automate complex financial infrastructure operations and credit operations, while providing flexibility to adapt to rapidly evolving global financial markets, it added.

Bank users will benefit from more efficient use of collateral assets and Riksbank will gain real-time control and greater flexibility.

"Polaris has successfully implemented central bank technology modernisation across Asia and Africa. We are delighted that Riksbank, Sweden has chosen us for automating their Collateral Management System," Polaris Financial Technology CEO ( Global Consumer Banking) Jaideep Billa said.

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 Properties for a comprehensive product suite, Intellect Global Consumer Banking (iGCB) M180. Intellect is the world's first pure play Service Oriented Architecture (SOA) based application suite for Retail, Corporate, Investment banking and Insurance. Its acclaimed products, solutions and services enable unprecedented operational productivity for the global Financial Services Industry by Building, Maintaining, Expanding and Extending highly complex and Integrated Financial Technology Infrastructure.

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 11,500 solution architects, domain and technology experts.

For Media related info, please contact:
Nachu Nagappan
Polaris Financial Technology Ltd
Mob: +91 89396 19676
Email: nachu.nagappan@polarisft.com

For Investor related info, please contact:
Praveen Malik
Polaris Financial Technology Ltd
Mob: +91 89397 82837
Email: praveen.malik@polarisFT.com