Polaris BPO eyes card processing business

Optimus, the BPO subsidiary of Polaris Software Lab (PSL), is looking at handling credit card-related transactions of public and private banks in India.

Optimus, which came into Polaris fold a year back, is yet to announce any major client acquisition. The company, about three months ago, appointed a professional banker, Uma Krishnan as it chief operating officer.

PSL chairman and managing director, Arun Jain, said the opportunity in the Indian banking sector for credit card processing was huge.

"While multinational banks such as Citibank and Standard Chartered Bank have client base running into millions, it is only a few lakhs for nationalised banks. We see a tremendous opportunity to work with them and offer end-to-end solutions for their credit card business."

Jain said Optimus is in talks with some nationalised banks for taking up large end-to-end services that will also include sales and marketing of credit cards, apart from back-end processing.

Jain said the company ill restrict the exposure to voice-based services to 20 per cent. "We are not interested in running a pure play call centre type of BPO," he said.

The shareholder of PSL met today at an extraordinary general meeting held in Chennai and authorised the board to grant associate stock options (ASOP) 2003 to the company's staff. ASOP 2003 will not in aggregate exceed 4 per cent of the issued equity share capital of the company.

The company, through a resolution passed at its extraordinary general meeting, appointed Vinay Garg as financial controller (US Operations) for three years.