The Hindu : Business : Business infrastructure solutions from Optimus

Online edition of India's National Newspaper
Wednesday, Dec 15, 2004

Business

Business

Business infrastructure solutions from Optimus

By Our Special Correspondent

MUMBAI, DEC. 14. Optimus, the wholly owned business process outsourcing subsidiary of Polaris Software, today launched, "Optimum" comprehensive business infrastructure solutions to support the credit card market.

This new product offers banks the complete portfolio of technology infrastructure and business services required to build a profitable cards portfolio.

"The Optimum launch is part of the group's strategic initiative to offer clients the combined benefits of product technology, outsourcing and domain expertise. With the introduction of Optimum, Polaris expands its service portfolio for the banking industry. We make the best software in the domain, we have the best banking product suite in intellect and now, we are in the same space with a wholesome offering for credit cards", said Arun Jain, Chairman and Managing Director and Chief Executive Officer, Polaris.

The Indian credit card market has shown significant growth in the last two years and has crossed the 10 million mark with a CAGR of above 30 per cent. Industry estimates put the number of cards between 25 and 30 million in the next few years. "Based on the market metrics of some of the more developed economies, we believe that the potential could be well beyond 100 million cards. With so much market opportunity, Optimum will be the perfect catalyst to enable the success of the Indian banks", said Uma Krishnan, COO, Optimus.

sOptimum, offers transaction processing services and business consultancy in all areas of credit card business including, customer acquisition, retention, running loyalty programmes and collections.

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