Polaris launches financial technology grid with 100 million customer capacity

Polaris Software Lab Limited, a leading global financial technology company today announced the launch of its `FT Grid', the largest cloud offering with a capacity to cater to 100 million customers.

The new financial technology solution will enable Polaris to offer its technology infrastructure and banking products on a pay-per-use model to banks and financial institutions through a ready-to-use platform with industry-standard hardware, middleware, RDBMS and network connectivity components, the company said in a release.

IdenTrust and IBM have partnered Polaris to provide reliable and scalable IT infrastructure for the FT Grid.

Polaris has created three variants of the FT grid in order to cater to the three major global markets for Polaris. This has been made to cater to ready markets across geographies keeping in mind their respective requirements, Polaris said.

FT Grid 7010 Core Banking, the lowest cost CBS will offer mobile-banking and pre-paid card solutions for global banks in developing economies such as India, Bangladesh, African Countries, Vietnam FT Grid 8010 Capital Markets will offer wealth management solutions for mutual funds, brokerage services and risk and treasury applications for maturing markets in the European Union.

FT Grid 9010 will offer corporate banking solutions, including liquidity, payments, collections and customer on boarding for developed markets such as the US, Canada and Australia.

The FT Grid is a complete enterprise class cloud+ solution with multiple features such as virtualisation, scalability, reliability, global reach, 24x7x365 support with vernacular localisation and information security that enables services to be provided at the customer's doorstep, Polaris said.