Dublin, Ireland, 15th March 2005 - PolarLake, a leader in standards-based incremental integration, announced today that its Integration Suite product has achieved the prestigious Gold B.I.S.S. (Benchmarking of International Systems and Services) accreditation from CityCompass, a leading supplier of independent research and analysis on topical issues that concern practitioners within the financial services. The accreditation recognises PolarLakeâs ability to deliver full-strength integration solutions within financial services, whilst dramatically reducing total cost of ownership.
The unique, business-oriented benchmarking exercise was designed by CityCompass to reduce misinformation and provide independent analysis of integration products, audited by a user panel drawn from some of the industry's leading organisations. The culmination of this exercise is an independent research report that includes a detailed product and service review.
Industry veteran and independent analyst Mick Newman, from CityCompass Research, who has held numerous senior IT roles in the industry including director of technology at the London Stock Exchange, led the product evaluation process. In his conclusion to the benchmarking report, Newman commented: "PolarLake has produced a powerful product that does not disappoint. They clearly have a bright future and technology that has an immediate and future appeal in the market. There is not much doubt that PolarLake are well positioned technically to take advantage of market interest in their product in this market space".
Newman also noted the comprehensive functionality within the product, commenting that "the PolarLake Integration Suite has all necessary components to enable its users to meet a number of the current and future business challenges that are facing IT today". In addition the final report highlighted the particular benefits that PolarLake can offer to financial services organisations, saying the company "is ideally suited to offer system solutions for the integration of fund management companies with service providers, such as global custodians and transfer agents."
"We are delighted to be awarded the Gold Accreditation in this years B.I.S.S. Benchmarking," said Ronan Bradley, CEO of PolarLake. "The accreditation confirms the strength of our offering, and in particular reflects the efforts we have made over the past year to address the key integration challenges within financial services organisations. These have included the release of the Integration Suite Finance Edition, support for commonly used data formats within financial services such as FIX, Swift Standards XML, XBRL and FpML, and continued work with our many financial services customers world-wide."