Everest Group Recognizes Polaris as a Star Performer and Major Contender on the PEAK Matrix

Everest Group Recognizes Polaris as a Star Performer and Major Contender on the PEAK Matrix

CHENNAI, India, August 13, 2012/PRNewswire/ --

                 ...For Large Banking Applications Outsourcing Relationships

    Polaris Financial Technology Ltd. (POLS.BO), a leading global Financial Technology
Company, today announced that Everest Group, a consulting and research firm on global
services, has recognised Polaris as a 'Star Performer' and 'Major Contender' on the
Everest Group PEAK Matrix for large Banking Applications Outsourcing Relationships 2012.*

    Everest Group evaluated leading global IT vendors servicing large (>$25 million),
multi-year (>3 years) applications outsourcing engagements specific to the banking sector
in terms of delivery capability and market success. It issues this report annually,
measuring procurement service providers on its proprietary Performance | Experience |
Ability | Knowledge (PEAK) Matrix.

    Everest Group designates the 'Star Performers' title to providers that demonstrate the
strongest forward movement over time on the PEAK Matrix. To assess advancements on market
success, Everest Group evaluates the performance across a number of parameters including,
yearly Average Contract Value growth, number of new contracts signed, number of contract
extensions and value of new contract signings. Advancements on capability are evaluated
across parameters including, annual growth in scale, increase in scope of services,
expansion of delivery footprint, and technology/domain specific investments.

    "Polaris significantly expanded its Applications Outsourcing client base in the
Banking sector in 2011," said Jimit Arora, Vice President, Everest Group. "The provider
has also strengthened its banking AO delivery capability through headcount ramp up and
investments in augmenting domain-specific and functional capabilities. Given this,
Polaris'movement on our banking AO PEAK Matrix is impressive and deserving of the Star
Performer status."

    Mr. Govind Singhal, Chief Operating Officer, Polaris Financial Technology Ltd., said,
"This report reiterates Polaris' Financial Technology leadership across the globe. Polaris
is one of the 4 service providers out of the 23 assessed providers which have been awarded
the 'Star Performer' rating which reinforces our strong focus and growing success in the
BFSI - Applications Outsourcing market."

    * The top-quartile performers on each of the specified parameters are identified and
the 'Star Performer' rating is awarded to the service providers with the maximum number of
top-quartile performances across all parameters and at least one area of top-quartile
performance in both market success and capability advancement.

    For more info, contact: Dwaipayan Deb +91-99625-36442; dwaipayan.d@polarisFT.com

Source: Polaris Financial Technology Ltd