Polaris, Webify tie-up to offer SOA-enabled solutions for financial services sector
21 Mar 2006
Mumbai: Polaris Software and Webify Solutions today announced a partnership to provide service-oriented architectures (SOA) and web services. The two companies will work together to integrate the features and functionality of Polaris Intellect Suite GeneS (generalized services) with Webify Industry Fabric to deliver transformative business benefits and outcomes. As a partner, Polaris will also establish a Webify SOA practice to deliver integrated solutions to banking and insurance customers globally.
"The Webify Industry Fabric will provide banking customers with the ability to better configure, control and govern complex SOA environments. In addition, the combined service oriented business application solution from Polaris and Webify for banking, financial services and insurance will further strengthen the position of both organisations as leaders in the SOA space," said Koen Van den Brande, chief technology officer, Polaris Software.
Brande further added "The relationship with Webify will also accelerate Polaris' strategy of delivering SOA-based legacy modernisation programs to larger banks, as part of its Smart Legacy Modernisation offering".
Globally, SOA continues to gather momentum as enterprises become more aware of the benefits of SOA enabled legacy modernisation to deliver improved flexibility and time to market without expensive rip-and-replace of legacy investments.
Gartner Group estimates that there are over 200 billion lines of COBOL code in existence and according to IBM, 70 per cent of the world's business data is processed by COBOL applications, and 30 billion COBOL-based transactions are processed daily.
Bobby Soni, Chief Strategy Officer, Webify Solutions, said, " Together, we will provide customers with flexible options for assembling and deploying business content which will lead to a spectrum of interesting and customer-friendly consumption models, ranging from traditional licensing to highly customizable subscription and syndicated offerings."