MAXBANK, Philippines Implements Polaris' Intellect Core Banking Solution

MAXBANK, Philippines Implements Polaris' Intellect Core Banking Solution

MANILA, Philippines and CHENNAI, India, July 27, 2012/PRNewswire-FirstCall/ --

          Fastest End-To-End Implementation Ever of Core Banking Solution in Just 4

                    Weeks Using Accelerated Implementation Methodology

    Polaris Financial Technology Ltd. (POLS.BO), a leading global Financial Technology
Company, today announced that it has successfully implemented its state of the art
Intellect(TM) Core Banking Solution (CBS) at Microfinance Maximum Savings Bank, Inc.
(MAXBANK), a microfinance oriented Thrift Bank, to fulfill the bank's requirement of a
central system that will proficiently manage the bank's multiple product portfolio
comprising General Ledger, CASA, Loans and Advances, Deposits along with Financial
Reporting Package [FRP].

    Leveraging its path-breaking Intellect Accelerated Implementation Methodology (AIM),
Polaris has implemented the fastest Core Banking implementation at a thrift bank in just 4
weeks. Polaris offered the bank attractive features like access control and hierarchy to
help MAXBANK define accurate access rights for users. Intellect CBS' Outward Clearing
feature will help the bank systemize the process of cheque clearance and posting,
providing clients with the advantage of not having to post the cheque individually to
their respective accounts.

    This implementation will enable the bank to disburse loans at the branch level and
bring it close to its customers through branch empowerment. Polaris' Financial Reporting
Package will enable the bank to submit their Central Banking reports efficiently within
the requisite timeframe, facilitate easy extraction of reports and will reduce the
turnaround time for new product launches, giving the Bank Speed-to-Market and competitive
advantage.

    Mr. Maximilian Oppacher, Chairman of the Board,MAXBANK said, "Intellect will support
future growth plans of MAXBANK, enabling further profitable business growth and an
increased operational efficiency for the bank as well as its clients. The rapid
implementation of the solution enables us to be efficient and streamline our whole
operations, thereby providing enhanced service to our customers."

    Mr. Supriyo Sircar, Head - Asia Pacific, Polaris Financial Technology Ltd. said, "We
are pleased to have successfully deployed our Intellect solution in just 4 weeks and to be
chosen by MAXBANK amongst various other competitors in the industry. Intellect Core
Banking Solution is a specialized offering and we are optimistic about its success in
supporting the banks aggressive growth plans. Polaris' solution will provide the bank with
a flexible system, helping the bank overcome its challenges and gain competitive advantage
in the marketplace."

    For more info, contact: Dwaipayan Deb (+91-99625-36442; dwaipayan.d@polarisFT.com)

Source: Polaris Financial Technology