Press release from Business Wire India
Source: Polaris Software Lab Limited
Thursday, September 16, 2010 02:07 PM IST (08:37 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Information technology; Technology
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Nilambur Co-operative Urban Bank signs up IntellectTM Core Banking Solution for Cooperative Banks from Polaris
Chennai, Tamil Nadu, India, Thursday, September 16, 2010 -- (Business Wire India) -- Laser Soft Infosystems Ltd. (a wholly-owned subsidiary of Polaris Software Lab Limited), a leading product company in Banking and Financial Services industry announced that Nilambur Co-operative Urban Bank (NCUB), one of the leading Urban Co-operative Banks in Kerala, has signed IntellectTM Core Banking Solution (CBS) for Cooperative Banks, a comprehensive J2EE & SOA based real time, efficient and integrated core banking system from Polaris. The solution when implemented will enable NCUB customers to avail ATM, Net Banking, Mobile Banking and Remittance services.
The agreement was signed by Sri. T.N. Godavarman Thirumulpad, Chairman, Nilambur Co-operative Urban Bank in the presence of the NCUB Board of Directors and Mr. U.C. Hariharan, General Manager, NCUB.
Speaking on the occasion Mr. T.N. Godavarman Thirumulpad, Chairman, Nilambur Co-operative Urban Bank said, "From a very humble beginning in 1939 with just 50 members and a capital of just Rs. 500, we have pushed ourselves into being one of the leading Urban Co-operative Banks in Kerala. We have been ranked as the 10th nationally and number one in Kerala during the 18th International Achievers Summit based on our financial performance in the last 3 years. We wanted a core banking solution which functionally meets our expectations, is lightweight, easy to implement, use and deal with for an urban co-operative bank and so opted for Laser Soft, owing to its rich experience and deep domain knowledge in the banking sector."
Talking about the deal Mr. Govind Singhal, President & COO, Polaris Software Lab Ltd. said, "We are happy to participate in the transformation journey of one more Co-operative bank in the country. IntellectTM CBS is the only pure Java technology based core banking solution being offered from the Indian subcontinent and it is increasingly becoming popular among Urban Co-operative Banks and Regional Rural Banks across the country and we are bullish about exploring these prospects."
About Nilambur Co-operative Urban Bank
Nilambur Co-operative Urban Bank was started in the year 1939 by Sri Manavedan Thirumulpad, Senior Raja of Nilambur Kovilakam as the Chief Promoter of the Bank. Under the leadership of T.N. Godavarman Thirumulpad, the present Chairman who took over in the year 2000, the bank was able to open five more branches taking the total count to 16 branches. NCUB was awarded the Best Performing Urban Bank of Kerala in the year 2009 by the Indian Achievers Forum and bagged the 10th place among all urban banks in India.
About Polaris Software Lab
Polaris Software Lab (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 9,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, IntellectTM Global Universal Banking (GUB) 10.0. IntellectTM is the first pure play SOA based application suite for Retail, Corporate, Investment banking and Insurance.
Polaris is headquartered in Chennai and has offices in all global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York, Chicago, Fremont, Pittsburgh and Chile. For more information, please visit http://www.polarisFT.com/
CONTACT DETAILS
Shailesh Dhawla, Polaris Software Lab, +91 9711811460, shailesh.d@polaris.co.in
KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, IT, TECHNOLOGY
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