Intellect Core Banking for Central Banks recognized as a leading HP Converged Infrastructure Solution
Polaris Financial Technology Ltd. (POLS.BO), a leading global Financial Technology company, announced that the company received the HP AllianceONE Partner of the Year Award in the Converged Infrastructure Solutions category. Polaris was recognized for its one of a kind Central Bank Core Banking Solution (CBS) implemented at the Reserve Bank of India (RBI).
The HP AllianceONE Partner of the Year Awards are presented to a selected set of HP business partners for their outstanding accomplishments in the development and delivery of innovative solutions that facilitate the raise of business excellence standards and client satisfaction. The award mainly recognizes companies, who in collaboration with HP deliver solutions that drive significant business outcomes.
The solution from Polaris is a one of a kind Central Bank CBS with a complete integrated converged infrastructure encompassing state of the art products/technologies from both Polaris & HP. Being the first integrated money and securities central bank solution in the world, it helps integrate operations of banking services, government services and financial security operations replacing several disparate legacy systems. The Central Bank solution from Polaris has been built to handle extremely large volume of transactions and the architecture of the solution supports progressive reforms and growth.
Polaris’ Central Bank CBS solution, is the only solution implemented that includes Intellect as well as end to end stack from HP comprising of HP Servers, Storage, HP EMS, HP Data protector etc. which enables complete solution maintenance for the customer for a decade. The solution powered with HP Converged Infrastructure, implemented at RBI, helps the customer significantly increase financial efficiency and improve staff productivity.
Commenting on the award, K Srinivasan, EVP & Geography Head, Indian Subcontinent, Middle East, and Africa (IMEA), Polaris Financial Technology Ltd. said, “Intellect CBS for Central Banks is the first integrated money and securities solution in the world which comes with depository and security settlement with DVP-3 capabilities, supports public debt management and connects to government payment gateways. HP AllianceONE Partner of the Year Award further reiterates Polaris’ strong leadership and collaboration in helping customers realize the value of Converged Infrastructure solutions in vertical industries and horizontal solutions across the world.”
Doug Oathout, Vice President, Global Marketing, Enterprise Group, HP said, "IT sprawl and siloed infrastructure are the primary barriers to the speed and agility customers require to keep pace with enterprise demand. HP and AllianceONE partners like Polaris collaborate to help customers improve agility and reduce costs through the use of HP Converged Infrastructure."