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Updated: July 3, 2013 22:11 IST

Polaris Financial eyes ‘smart branch’ space

Special Correspondent
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Arun Jain at the Polaris FT Design Centre 8012 at Navalur near Chennai on Wednesday. Photo: Bijoy Ghosh
The Hindu
Arun Jain at the Polaris FT Design Centre 8012 at Navalur near Chennai on Wednesday. Photo: Bijoy Ghosh

With changes sweeping the modern banking world, Chennai-based Polaris Financial Technology Ltd. has set its eyes firmly on garnering a bigger slice in ‘smart branch’ space.

Addressing presspersons after a tour of the recently-inaugurated state-of-the-art design centre near here, Arun Jain, Chairman, said the ability to combine standard products with customised solution remained a big challenge for a typical product company in a dynamic environment.

With one too many players offering core banking solutions, Polaris would like to move into and compete in as yet unexplored “smart branch space”.

Fielding an array of questions, Mr. Jain said the newly-come up six-zone FT (financial technology) design centre would “uniquely connect business, technology, operations, and engineering solutions that drive unprecedented value”.

Deeper relationship

To a query, he said the investment in such a design centre would ultimately improve the pricing. More than improving the pricing, it would facilitate Polaris to mine deeper into a relationship.

“How deep can we go with each relationship? How much depth can we create with a relationship? These are the key questions,” he said.

Already, 20 clients had made a beeline for the FT design centre since it went on stream in March this year, he said. This spoke volume for “not just our ability but also the customer faith in us,” he added.

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