Polaris Awarded the Red Hat Best Independent Software Vendor Award in the Middleware Segment...Award Announced at the Red Hat APAC FY12 Partner Conference

CHENNAI, INDIA, November 25, 2011 (Press-News.org) Polaris Financial Technology Ltd. (POLS.BO), a leading global Financial Technology company, was awarded the Best Independent Software Vendor (ISV) title in the Middleware segment at the Red Hat APAC Fiscal Year 2012 Partner and Technical Conference held in Macau in October 2011. Polaris was the only winner in this category and one of two award winners from India.

By partnering with Red Hat, Polaris has been able to effectively cater to price sensitive tier-2 and tier-3 banks on a global scale. Red Hat's open source strategy offers Polaris' customers a long-term plan for building their infrastructure without having to worry about license fee payment. Red Hat's broad portfolio, enterprise-class performance and stability, ease of management, greater flexibility and control, and lower total cost of ownership provides a competitive advantage for Polaris in the marketplace.

Speaking on the occasion K Srinivasan, EVP & Geography Head, Indian Subcontinent, Middle East, and Africa (IMEA), Polaris Financial Technology Ltd. said, "We are delighted to receive the Red Hat Best ISV Award in the Middleware (JBoss) segment and be the only winner in this category. This is a testimony to our strong partnership with Red Hat, our deep domain knowledge and Polaris' ability to consistently deliver the highest quality of service to customers. This recognition will further fuel our growing presence in emerging markets and among tier-2 & tier-3 banks globally. With additional wins and recognition to our credit, Polaris is continually establishing its leadership in the Financial Technology space."

"It is our pleasure to announce this award to our Middleware ISV partner, Polaris Financial Technology Ltd. Through their commitment to the Red Hat Enterprise Linux platform, Polaris is helping us add significant clients to our portfolio. We believe that together we will be able to optimize business opportunities and create many more significant milestones," said Anuj Kumar, Managing Director, India Subcontinent, Red Hat India.

Kumar added, "At Red Hat, we are constantly working to expand our partner ecosystem to build, optimize, and deliver comprehensive solutions to our customers. Through our network of leading hardware, software, and service provider vendors in India, we offer customers more choice with a wealth of proven technology solutions that solve real-world business challenges."

Polaris offers state-of-the-art solutions for Core Banking, Corporate Banking, Wealth & Asset Management and Insurance and is the chosen partner for 9 of the top 10 global banks and 7 of the top 10 global insurance companies. It is organized into 15 Business Solution Centers (BSCs) across the country, each housing expertise in one specialized domain area, and at any given point in time, there are over 600 projects executed across these Business Solution Centers. Polaris has Regional Payment Hub deployment supporting 45+ countries, Global Trade Processing platform across 60 countries and a Corporate Banking Portal across 120+ countries that processes $3 trillion worth transactions per day.

For further information on Polaris Financial Technology Ltd., please contact:

Dwaipayan Deb, Polaris Financial Technology Ltd.
Mobile: +91 9962536442; dwaipayan.d@polarisFT.com

For further information on Red Hat, please contact:

Som Ganguly, Red Hat India
Mobile: +91 9196 3203 5810; sganguly@redhat.com

About Polaris Financial Technology Ltd.
Polaris Financial Technology Ltd. (formerly known as Polaris Software Lab Ltd.) (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 12,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, Intellect GUB M180. Intellect 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 Bangalore, Belfast, Chennai, Chicago, Dubai, Dublin, Frankfurt, Hong Kong, Ho Chi Minh City, Hyderabad, Illinois, Kuala Lumpur, London, Madrid, Manama, Melbourne, Mississuaga, Mumbai, Neuchatel, New Delhi, New Jersey, Paris, Pittsburgh, Pune, Riyadh, Santiago, San Francisco, Seoul, Shanghai, Singapore, St. Germain En Laye, Sydney, Thane, Tokyo, Toronto, Utrecht, Victoria and Wicklow. For more information, please visit http://www.polarisFT.com/

About Red Hat, Inc.
Red Hat, the world's leading provider of open source solutions and an S&P 500 company, is headquartered in Raleigh, North Carolina, USA, with more than 70 offices spanning the globe. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with cloud, virtualization, applications, management, storage and service-oriented architecture (SOA) solutions, including Red Hat Enterprise Virtualization and JBoss Enterprise Middleware. Red Hat also offers support, training and consulting services to its customers worldwide. Learn more: www.redhat.com.

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