Financial Technology

Financial Technology

December 16, 2013

Polaris' Customer Business eXchange Has Strong Capabilites - Reports Forrester

Polaris Financial Technology is a specialist in financial technology for banking, insurance and other financial services. The company’s Intellect (News - Alert) Customer Business eXchange (CBX) enables financial institutions to rope in their premium corporate customers to the Banking Financial Technology Grid in a secure and integrated manner. Intellect CBX is built on the industry standard J2EE framework.

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.

The company’s iGTB is a complete global transaction banking third generation platform with a built-in Corporate Business Exchange, which enables transaction banks to position themselves as the principal bank for their corporate customers.

In connection to this, recently Forrester (News - Alert) Research featured the Customer Business eXchange product from its iGTB division amongst Internet and Cross-Channel Banking Solution providers. Polaris' CBX from iGTB was cited in Forrester Research (News - Alert)'s October 2013 report titled "Market Overview: Off-the-shelf Channel Banking Solutions can Differentiate and Manage Cost."

According to Forrester, a cross-channel banking platform is a front-end solution that has the capacity to offer interactions and transactions via the web and other channels in a cross-channel fashion, along with the ability to work with existing back-end solutions such as core banking 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.

Forrester reports the business functionality of Polaris' CBX as having 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.

"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. 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," Manish Maakan, chief executive officer, Polaris iGTB said, in a statement.

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, and so on.

Edited by Cassandra Tucker

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