With the rise of smartphones, data analytics, social payments and crypto-currencies, the payments industry is experiencing rapid digital transformation. While banks are dominant providers, in 2014, startups raised $492 million venture capital funding to support – or supplant – that establishment. Regulators also are making it easier for companies to encroach on traditional players. Increased pressure from all angles means that now more than ever, banks must fast-track innovation.

Our Digital Enterprise 360 approach improves your business from all angles. Externally, your customers enjoy a consistent digital experience for products and services across all channels and brands. Internally, we help simplify and automate processes to minimize costs and boost revenue. Plus, with over 25 years of deep domain expertise, our unique understanding of financial systems powers seamless integrations.

A Full Suite of Solutions Keep You Ahead of the Curve

Polaris provides both the experience and technology to help banks, credit unions, payment aggregators and processors to improve their payments-related cost savings, speed, security, pricing and customer service. Key services cover integrated transaction hubs, straight-through processing (STP) for real-time payments and online/mobile channels.

Integrated Transaction Hubs Streamline Worldwide Visibility, Transparency and Functionality

As banks consolidate payments strategy for multiple product lines via shared infrastructure, Integrated Transaction Hubs enable a single view of the entire lifecycle of payments. Those afford complete visibility and transparency from the point of initiation to execution – with high levels of automation, digitization and exception handling.

These Hubs help manage different transaction lifecycles on a global basis. Such platforms incorporate a unique combination of technologies, such as workflow automation, exception handling, digitization, mobile and online channels, etc. Hubs also reduce development and maintenance costs, improve risk and liquidity management, and increase speed to market for new products and services.

Additionally, our solutions re-engineer processes, implement engines that automate reconciliation processes and enable systems to accept asynchronous messaging with higher throughput. The functional architecture from channels and payment networks is mapped across all product lines.

Polaris' Hub technology has been deployed at over 20 global financial institutions and has won Celent XCelent awards for innovation and depth of coverage.

Transaction Hub Highlights

  • A payments gateway solution consolidated multiple legacy payments pre-processors to a single solution that handles rapidly-growing transaction volumes in over 48 countries Confidential to Polaris 2
  • A business activity monitoring solution for a Tier-1 bank helps track payments real-time across several different payment engines - including payment flow exceptions globally – to help its corporate customers adhere to clearing house cut-off deadlines worldwide
  • A high-performance intelligent hub links customer-facing transaction initiation channels to back-end product processors, supporting pan-Latin American operations via a single, central deployment point. This scalable and performance-driven architecture is benchmarked to handle volumes in excess of 1 million transactions per day, with peak processing capability of 360,000 transactions per hour
  • A single platform for one of the largest High Street banks integrate balances, limits and transactions systems as part of a funds control hub solution

Straight-Through Processing Streamlines Efficiency and Cost-Effectiveness

As payments continue commoditization, clients are seeking innovative ways to reduce operating costs through elimination of paper, enhanced self-service, and minimized manual processing and re-work. In addition, worldwide the move towards more real-time payments means that the exception handling needs to be stream-lined and the payments enriched to enable clearing.

Polaris partners with our clients to re-engineer processes, automate reconciliation and enable systems to accept asynchronous messaging with higher throughput. Optimized environments target reductions in execution times, increases in productivity and decreases in the total cost of operations – via higher intelligence-driven automation and digitization of processes. Specifically, our Business Process Mapping accurately assesses and optimizes overall workflows.

Whether in cash management, trade finance, client on-boarding/KYC, investment services or risk, Polaris architects have raised payment automation levels by more than 30%, saving clients millions.

Online/Mobile Transactions via a Convenient and Seamless User Experience

Customers increasingly demand a single touch, Amazon-like experience for all interactions. Accordingly, there is a significant shift towards convenience, reliability and timeliness as adoption drivers.

Our mobile enablement solutions – for cash management, wealth management and financial advisory services – work seamlessly across multiple platforms and devices. We also perform in-depth mobile and performance testing to ensure the most efficient and enjoyable user experience.

As just one example, Polaris created the world's largest corporate payment portal for a Top-5 global bank. The system supports worldwide transaction initiation, processing and reporting of multi-country and multi-currency payment products and services.