Chennai, India, 4th July 2005: Polaris’ Intellect Treasury solution is chosen by one of the world's leading financial services company for its Risk Treasury business in Europe. This multi-location implementation deal was won amongst stiff competition from the current incumbent and OPICS from Misys.
The Risk Treasury group of the renowned global conglomerate was seeking solutions to replace a globally run 20-year-old legacy system in eight locations simultaneously along with needs for multi-location trading and a centralised treasury
Polaris’ solution offering is built around the Intellect Suite and the SmartBuild approach. The products used are Intellect Money Markets, supplemented by Intellect Armor, Intellect Integrator and Intellect Reports. The SmartBuild approach enabled the customisation of the base components to fully meet the customer’s requirements. Thus it answered the ‘build vs. buy’ dilemma in situations where customers need form-fitting solutions with minimal efforts on development and customisation.
Commenting on the successful implementation, Mr. Kartik Kaushik, Head, New Business for US & Europe, Polaris Software Lab, said - "In this close selection, the client found our solution more flexible and suitable to their needs, considering the complexity in operations and uniqueness in the bank’s processes. The ability to have all the key elements from deal booking, pricing, blotter to risk numbers and analytics on one screen was a winning value-add. From a technology perspective, the SmartBuild concept reduces the dependency of the bank on a proprietary product vendor, thus making the Polaris proposition very attractive on an ongoing basis".
Mr. Arun Jain, CEO, Polaris Software Lab, added, "This multi-country Intellect Treasury deal is a major milestone in the lifecycle of Polaris' product strategy. Winning such a deal from an organisation which is a thought leader in the space, proves that the SmartBuild strategy around the Intellect suite is clearly providing a very promising proposition to Tier 1 players, globally"
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