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India's Polaris Software signs Lloyds TSB to Intellect Suite

22 November 2005  |  3715 views  |  0 Source: Polaris Software

Polaris Software Lab, Ltd. (MUMBAI: POLS.BO), a leading global provider of banking, insurance and financial technology solutions and strategic offshore IT services today announced the initiation of a new relationship with Lloyds TSB, one of the most prestigious high street banks in UK.

Lloyds TSB Bank has selected INTELLECT SUITE as the banking solution for part of its International Cash Management Offering. The initial project revolves around the requirements for Sweeping (Cash Concentration) where the bank plans to roll out an automated solution to replace current processes. With the addition of this prestigious relationship, Polaris has now established the Intellect Suite footprint across UK, Germany and Benelux within a short span of two years.

Commenting on this new relationship, Ernie Battey, Director Corporate Transaction Services (CTS), Lloyds TSB Bank, said, "We are pleased to be working with Polaris on this project to improve customer service and product flexibility for our customers. We will be working closely together over the coming months to deliver the benefits to the Bank."

Speaking on the occasion, Arun Jain, Chairman and CEO, Polaris Software Lab Ltd said, "It is a privilege to be associated with such a prestigious name like Lloyds TSB Bank. We are delighted to be able to assist Lloyds TSB to add new services to their customers and are committed to delivering to the expectations of Lloyds TSB Bank."

Commenting on this new win, Bikash Mathur, EVP and Business Head EMEA, Polaris Software Lab, said, "Intellect Suite was chosen for its Modular architecture and the unique ability to enable inter-operability across the bank's current systems and the new systems that the bank is adding. This is yet another re-confirmation of our strategy for Tier-1 banks."

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