Chennai, 19 May 2005: Canara Bank, one of the pioneers of the Credit Card movement in India, recently completed a rollout of a countrywide automation solution to significantly scale up their cards operations from the present 1.25-million cardholder base to service more than five million potential cardholders.
The project involved implementing the Polaris ‘Intellect Cards’ product for managing card issuance and acquiring, fraud management, authorization, loyalty management, debit card management, and collections. The solution was implemented at the head office of the Canara Bank card operations in Bangalore and enables card management across the 2500 branches.
Intellect Cards was implemented on a SunFire/ Sun Unix platform from Sun
Microsystems, and was completed in a phased rollout across 12 months ending March 2005.
"As one of the pioneers of the credit cards business in India, Canara Bank was keen to upgrade its ability to deliver rapid, accurate and reliable services to its large customer base", says B.Swaminathan, Executive Director, Canara Bank. "The Polaris Software and Sun Microsystems solution is a reliable, robust, and tested solution and will help us to offer state-of-the-art cards services to a significantly larger audience."
Intellect Cards, part of the Polaris Intellect Suite of products, is a flexible and comprehensive build-as-you-grow system that provides a relationship level view of customers and merchants, making it possible to serve customers better and reduce operational costs.
"For over 19 years, Polaris has delivered focused solutions in banking and financial services to clients across India and throughout the world," says Koen Van den Brande, President—Product Group, Polaris Software. "We are delighted to be able to offer that expertise to Canara Bank."
"Intellect Cards will help Canara Bank strengthen its position as a large and sophisticated cards player with faster time to market for new products, be it for their issuing or acquiring business," says Murali Balaraman, Vice President, Product Management Group, Polaris Software.
Sun Microsystems’ robust infrastructure and back-end solution offers unprecedented security, resource optimization and investment protection. Besides this, Sun Fire Servers, on which the solution rests, are massively scalable. ‘Intellect cards’ solution also requires a high level of availability which is ably provided by Sun Fire Servers.
Says M.B.Sam, Head--Alliances, Sun Microsystems India Pvt Ltd: "Sun is the leading supplier of open, scalable network computing technologies for the worldwide financial community, providing innovative solutions to enable financial industry customers to address their business issues and gain a competitive advantage. Sun’s scalable and reliable systems will provide Canara Bank a sturdy backend for their extensive card operations."
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