CHENNAI, India, August 20 /PRNewswire/ --

- A Powerful Credit Decision Engine That Enables Effective Customer
Targeting and Credit Risk Management

Polaris Software, a leading Financial Technology company,
announced that HDFC Bank has implemented Polaris's Enterprise Business Rule
Engine for its Retail Asset Lending Business comprising auto and personal
loans. This deployment will enable HDFC Bank to target customers better and
manage credit risks effectively.

Polaris's Intellect Business Rule Engine is a powerful credit
decision engine that enables Polaris's customers to profile and segment
customers for loan products and aids cross-selling and up-selling of related
asset products. Intellect Business Rule Engine is the credit decision
backbone that powers Global Universal Banking (GUB) - Intellect 10.0, the
most comprehensive banking platform built using the next-generation Service
Oriented Architecture (SOA) technology.

The system, when coupled with Polaris's Intellect Origination
and application processing solution, completely automates the process of
filtering bad applications based on configurable and flexible
pre-qualification checks. This results in processing of more applications and
credit offers only to genuine customers.

As implemented at HDFC Bank at this stage, the system performs
online application scoring & policy evaluation. The next phase of solution
implementation is focused on computing behavioural scoring of retail loan
applications in conjunction with the Bank's Data Warehousing system.

Munish Mittal, EVP & Head, Technology Solutions Group, HDFC
Bank, said, "We evaluated multiple international and domestic solutions for
introducing scoring and rules based Loan approval process and chose Polaris's
Intellect BRE solution on account of its relatively lower start-up cost,
easier integration capability with Bank's disparate Loan origination &
application processing systems as well as availability of local systems
integration & maintenance support."

Intellect Business Rule engine is an enterprise wide system
designed on SOA architecture that can be extended across the lines of
business. This centralized business rule repository provides the ability to
view risk across portfolio of products and therefore enables higher control
and risk management.

"Implementing Application & Behavioural scores along and
integrating Business Rules engine with Bank's existing Enterprise
de-duplication solution for Loan & Credit Cards applications has been a 
major landmark in our pursuit to make retail Credit processing template 
based and standardization of Credit policy administration," Mr. Mittal added.

Polaris's BRE solution further strengthens Banks straight
through processing capability which integrates the good/bad internal
de-duplication of loan/credit cards applications, application & behaviour
score and Credit Bureau reports along with Bureau scores in real time and 
forms integral part of Bank's SoA initiative.

"Credit decision framework is a critical function in the
distribution of the loan products to end customers. Having successfully
partnered Polaris for automating our credit card application process, we
chose to implement Polaris' Intellect Business Rule Engine. This cost
effective solution will enable faster time to market our lending products and
help us adapt quickly to changing risk practices," said Mr. Mittal.

Commenting on the implementation, Govind Singhal, COO Global
Delivery and Operations, Polaris Software Lab, said, "We are excited that
HDFC Bank, one of the fastest growing banks in Asia has gone live on
Intellect Business Rule Engine. This solution will enable HDFC bank to
provide credit faster to its genuine customers and thereby enhancing the
customer experience and the bank's profitability."

About HDFC Bank

Promoted in 1995 by Housing Development Finance Corporation
(HDFC), India's leading housing finance company, HDFC Bank is one of India's
premier banks providing a wide range of financial products and services to
its over 15 million customers across hundreds of Indian cities using multiple
distribution channels including a pan-India network of branches, ATMs, phone
banking, net banking and mobile banking. Within a relatively short span of
time, the bank has emerged as a leading player in retail banking, wholesale
banking, and treasury operations, its three principal business segments.

The bank's competitive strength clearly lies in the use of
technology and the ability to deliver world-class service with rapid response
time. Over the last 13 years, the bank has successfully gained market share
in its target customer franchises while maintaining healthy profitability and
asset quality.

As of June 30, 2009, the Bank had a distribution network with
1,416 branches and 3,382 ATMs in 550 cities.

For the quarter ended June 30, 2009, the Bank earned total
income of INR 51.36 billion (Rs.5,136.8crore) as against INR 42.15 billion
(Rs.4,215.2crore) in the corresponding period of the previous year. Net
revenues (net interest income plus other income) for the quarter ended June
30, 2009 were INR 28.99 billion (Rs.2,899.2crore), up by 25.1% over INR 23.16
billion (Rs.2,316.9crore) for the quarter ended June 30, 2008. Net Profit for
the quarter ended June 30, 2009 was INR 6.06 billion (Rs.606.1crore), up by
30.5% over the corresponding quarter ended June 30, 2008.

The Bank's total balance sheet size increased by 10.38% from INR 1685.98
billion (Rs. 168,598.7crore) as of June 30, 2008 to INR 1861.15 billion
(Rs.186,115crore) as of June 30, 2009. Total deposits were INR 1457.32
billion (Rs.145,732crore), an increase of 11.31% from June 30, 2008.

Total income for the year ended March 31, 2009 grew by 58.2% to INR
196.22 billion (Rs19622.9crore) over the corresponding year ended March 31, 
2008.

Leading Indian and international publications have recognized the bank 
for its performance and quality.

For more information please log on to: http://www.hdfcbank.com

About Polaris Software Lab

Polaris Software Lab (POLS.BO) is a leading Financial
Technology Company, with its comprehensive portfolio of products, smart
legacy modernization services and consulting. Polaris has talent strength of
over 9000 solution architects, domain specialists and technology experts. The
company owns the largest set of Intellectual Properties in the form of a
comprehensive product suite namely Intellect(TM). Intellect is the first pure
play SOA based application suite for Retail, Corporate and Investment
banking.

Polaris is headquartered in Chennai and has offices in all
global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India,
Dubai, Bahrain, Riyadh, Paris, London, Belfast, Zurich, Frankfurt, Toronto,
New York, Chicago, Fremont, Pittsburgh and Chile. For more information,
please visit http://www.polaris.co.in/.

For further information, please contact:

    Sowmya Ramachandran
    Corporate Communications
    +91-988-441-3174