European Bank Deploys Polaris' Platform

Polaris Software Lab a provider of Integrated Application Services in the BFSI segment has announced that a global top 10 Bank has chosen to deploy its Service Oriented Architecture (SOA) based Intellect Cash and Liquidity Management Platform.

The solution is expected to enable the bank to offer liquidity products and let its customers have rule-based optimization of their cash. The platform is said to incorporate SOA back plane technology which permits easy implementation and plugging of essential business functionality into the bank's existing IT environment in a non-disruptive manner.

The implementation is expected to be over by the end of this month, following which the bank will announce the global roll out of the Intellect Cash and Liquidity Platforms.

Making the announcement, Arun Jain, chairman and CEO, Polaris Software Lab, said, "SOA is considered as the fifth big paradigm in the IT industry after Data centres, PCs/Servers, Business Applications and Internet. Reports published by Gartner reveal that the market for Services Oriented Architecture was $450 Million in 2005 and is expected to reach $ 18.4 Billion by 2012. With a strong SOA back plane for deployment, Polaris is well positioned to ride the SOA wave."

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Though Polaris didn’t disclose the name of the bank, it said that the bank based out of Southern Europe is a pioneer in deployment of innovative banking technology.