Pradeep Nair, Director, IBM Software, Arun Jain, CMD, Polaris Software Lab, Karen J. Wendel, CEO, Iden Trust and Jaideep Billa, Executive Vice-President, FT Grid at the launch announcement in Chennai,
Polaris launches jumbo Grid on the Cloud
Leading India based global Financial Technology Polaris Software Lab has launched what is arguably the largest cloud offering ever -- with the potential to cater to 100 Million customers. It is called FT Grid ( FT for Financial Technology) and will offer its FT infrastructure and banking products on a pay-per-use (cloud) model to banks and financial institutions through a ready-to-use
platform with industry-standard hardware, middleware, RDBMS and network connectivity components.
Polaris will be partnered in this venture by IdenTrust, a leader in trusted identity solutions and by IBM Software.
FT Grid will be offered in three different variants.
- FT Grid 7010 Core Banking – Lowest cost CBS, Mobile-banking & Pre-paid card solutions for Global banks in developing economies such as India, Bangladesh, African Countries, Vietnam.
- FT Grid 8010 Capital Markets - Wealth Management, Mutual Funds, Brokerage Services and Risk & Treasury Applications for Maturing Markets in the European Union.
- FT Grid 9010 Corporate Banking - Liquidity, Payments, Collections and Customer on Boarding for developed markets such as US, Canada & Australia.
The FT Grid is a complete Enterprise Class Cloud+ Solution with multiple features such as virtualization, scalability, reliability, global reach, 24x7x365 support with vernacular localisation and information security and will enable banks and financial institutions to readily access applications on a robust
infrastructure, helping them avail services on per account / branch per month or equivalent usage based charges.
Arun Jain, Chairman & CEO, Polaris Software said on launch, " With the launch of the FT Grid we firmly establish ourselves as the complete Financial Technology company. We have branded this offering as ‘GRID’ to match with our vision of making banking services available as ubiquitously as electricity is available over
a power grid today”. Added. Karen J. Wendel, Chief Executive Officer, IdenTrust: “While Polaris is the pioneer in financial technology, IdenTrust is the pioneer of the Identity Management solutions. With our experience of supportingover 500 million PKI validations every year we have built deep expertise in delivering secure hosting services. This is a synergistic relationship as we will help Polaris build a secure cloud and the Polaris cloud
will help drive the adoption of Identity-based security within the banks.”
Pradeep Nair, Director, IBM Software Group, India/South Asia said, “Thispartnership reinforces IBM's leadership in the fast-growing cloud market in India - when it comes to providing a resilient, scalable, secure solution for an on-demand environment
Polaris is headquartered in Chennai and has offices in all global financial hubs. http://www.polarisFT.com/ Aug 10 2011