Polaris launched IntellectTM GUB M180

Polaris Software Lab, a leading global
financial technology company, announced the launch of IntellectTM
Global Universal Banking (GUB) M180, the most comprehensive
enterprise banking solution. With a conservatively estimated over 70
lines of business, and over 1,500 distinct products to be managed,
complexity in banking is here to stay. Varying customer requirements
and behaviour patterns, and evolving regulatory frameworks across
geographies, present a formidable efficiency challenge to banks.
Every discrete product added on to legacy technology adds waste in
the system, that can jeopardize the entire system over time.

Explaining the compelling context for
change, Arun Jain, Chairman and CEO, Polaris Software said, “We
have seen about four to five generations of technologies, that
spawned banking products, each adding 'fat' to a system, that is
increasingly weighed down by inefficiency. It was about time to
address the issue, and as a pioneer and thought leader in the
financial technology domain, we created IntellectTM GUB M180 to set
the Financial Technology agenda.”

The business services framework
approach led to financial technology enabling efficiency at three
critical stages:

Hubs — that integrate and connect
information silos, where business rules and workflows are
orchestrated and then distributed

Role-based workstations — dealer
workstations, relationship manager workstations, etc versus the
traditional 'functionality-based' application systems

Customer Business Exchanges (CBXs) —
where the end-customer designs personally relevant business services

“Customers need superior technology,
functionality, and real-time manageability, without compromising on
performance and profitability,” said Govind Singhal, COO, Polaris
Software.

Financial Technology must deliver on
multiple fronts simultaneously. Rather than slowing renewal activity,
the financial crisis has served to accelerate it. While renewal is
still high-cost and high-risk, it is also high-reward, because it
enables higher agility and efficiency in ways that are
transformational for the bank. Enterprise banking financial
technology solutions must be comprehensive. They must provide
life-cycle assurance and must necessarily emerge from industrial
strength SOA.

Polaris' investment in Services
Oriented Architecture (SOA) technology, and its approach to each
banking product as a business service, translated into a fundamental
shift in architectural thinking. The new structure provided a blue
print for moving from a single monolithic structure to network
architecture.

Intellect GUB M180 is engineered to
provide 15 year in-built solution longevity, with concurrent and
subsequent technology upgrades. In a world of product silos and
limited functionality, Polaris is unique in its comprehensive
lifecycle assurance. Highly rated by analysts and business users, the
solution offers the best price-to-performance proposition.

Polaris recently hosted the Financial
Technology Leadership Forum — London Convergence 2010 in
association with The Financial Services Club of London, where
IntellectTM GUB M180 was premiered to an audience of 50 leading
transaction banking and payments experts. The world's top six
global banks, who are all Polaris Intellect users, attended the
unveiling of IntellectTM GUB M180.