UK bank selects Polaris product

Polaris Softare Lab Ltd has said that UK-based Lloyds TSB Bank has selected its Intellect Suite as the banking solution for part of its international cash management offering.

A company release said that the initial project would revolve around the requirements for sweeping (cash concentration), where the bank plans to roll out an automated solution to replace its current processes.

Bikash Mathur, executive vice president and Business Head, Polaris said that Intellect Suite was chosen by Lloyds TSB bank for its modular architecture and the ability to enable inter-operability across the bank's current systems and the new systems that the bank would be adding.

Lloyds TSB Bank is part of the Lloyds TSB Group, which is a leading UK-based financial services group.