Elavon Streamlines Merchant Acquiring Services Using Intellect(TM) GUB

FRANKFURT and CHENNAI, India, March 29, 2010 - Polaris Software (POLS.BO), a leading Financial Technology
company, announced that Elavon a wholly-owned subsidiary of U.S. Bancorp
(NYSE: USB) and a leading global payments provider, has gone live on
Intellect(TM) Global Universal Banking (GUB) - Business Process Studio.
Elavon has streamlined the core business processes of merchant boarding,
credit card acceptance, vouchers and chargeback processing to provide best of
services for its 1 million and more merchant customers.

G. Schomburg, SVP Systems and Technology, Elavon, said "Being
a leading global payments processing company, we constantly strive to enhance
our merchants' experience and their satisfaction levels. We chose Intellect
Business Process Studio for its complete imaging and workflow capabilities.
We are very pleased with the successful rollout in Europe."

Commenting on the implementation, Bikash Mathur, CEO, Polaris
EMEA, said "We are pleased that Elavon has chosen Intellect to strengthen its
merchant acquiring services. Intellect Business Process Studio is a
state-of-the-art process automation solution that enables automation of
complex business processes along with the reduction in transaction processing
costs, turn-around-time and risks associated with manual handling of paper
based transactions. The customized solution delivery can be achieved with
zero code change and high ROI."

Intellect Business Process Studio (BPS) is the business
process automation layer that powers Intellect Global Universal Banking 10.0,
the most comprehensive banking platform built using the next-generation
Service Oriented Architecture (SOA) technology. Intellect BPS combines
workflow, imaging and document management capabilities along with menu-driven
application building facility making it a unique platform for transaction
processing. It offers prebuilt Business-Ready solutions to deliver straight
through processing of transactions and high throughput. Business processes
that are available as part of BPS are account opening and account services,
payments, check processing, trade services, credit card services and
deposits.

About Elavon

Elavon's Global Acquiring Solutions organization is a part of
U.S. Bancorp. Elavon provides end-to-end payment processing services to more
than one million merchants in the United States, Europe, Canada, Mexico and
Puerto Rico. Solutions include credit and debit card processing, electronic
check services, gift cards, dynamic currency conversion, multi-currency
support, and cross-border acquiring. Elavon's services are marketed through
multiple alliance partner channels including financial institutions, trade
associations and ISOs. Elavon has solutions to meet the needs of merchants in
specialized markets including small business, retail, hospitality/T&E, health
care, education and the public sector. Visit Elavon online at
www.elavon.com.

About Polaris Software Lab

Polaris Software Lab (POLS.BO) is a leading Financial
Technology company, with its comprehensive portfolio of products, services
and consulting. Polaris has a talent strength of over 9,000 solution
architects, domain and technology experts. The company owns the largest set
of Intellectual Properties in the form of a comprehensive product suite,
Intellect Global Universal Banking (GUB) 10.0. IntellectTM 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 Tokyo, Sydney, Hong Kong, Singapore, India,
Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New
York, Chicago, Fremont, Pittsburgh and Chile. For more information, please
visit www.polaris.co.in/

    For more information, please contact:
    Shailesh Dhawla
    Polaris Software Lab
    Tel: +91-9711-811-460
    Email: shailesh.d@polaris.co.in

For more information, please contact: Shailesh Dhawla, Polaris Software Lab, Tel: +91-9711-811-460, Email: shailesh.d at polaris.co.in