NEC Corp, Polaris, Covansys deploy GBS for Japanese bank

Our Convergence Bureau
21 July 2003

Chennai: Japanese company NEC Corporation, partnering with two Indian software companies, Polaris Software Lab and Covansys India, has successfully deployed its global banking system (GBS) at Yachiyo Bank, Japan.

The GBS is a core-banking product that satisfies all the advanced and basic requirements of next-generation banks and uses an open-system architecture to augment speedy and cost-effective implementation of the product for the banks.

NEC has a committed tank-size of eight more deployments of the GBS, wherein Polaris will continue to play a major role in customisation. Says Polaris CMD and CEO Arun Jain: " Polaris had deployed around 500 man years of efforts over the relationship spanning around four years and generated around 6.5 million lines of code, thus enriching Polaris'' Japanese core-banking expertise by as many years."

As a part of its initiative to move the legacy-banking systems in Japan to open systems, NEC launched Banking Web 21 development in 1999. This initiative encompasses the solutions features of the next-generation banking system using object-oriented technology.

The company adopted multi-vendor strategy involving Polaris and Covansys from India and Client Server Computation, based in the US.