MEDIA RELEASE PR36104
PCCW and Polaris Software Collaborate to Take Intellect(TM) to China
HONG KONG and CHENNAI, Sept . 14/PRNewswire-AsiaNet/ -
Polaris Software Lab Limited, a leading Financial Technology company in
India, has signed the Memorandum of Understanding with PCCW Solutions, a
subsidiary of Hong Kong's premier telecommunications provider, PCCW Limited,
to jointly market and deliver Intellect Global Universal Banking (GUB) 10.0*
and a range of other banking and insurance solutions including software,
system integration and support services for customers in Hong Kong, Macau and
mainland China.
PCCW Solutions and Polaris will target banking, financial services and
insurance companies in the region. Polaris will benefit from the strong local
presence of PCCW Solutions, a trusted partner of leading financial
institutions in mainland China and Hong Kong. Polaris also entrusts PCCW
Solutions to adapt the Intellect products to comply with the local practices,
as PCCW Solutions has extensive knowledge of local regulations and reporting
needs of banks. This partnership will bring sales, presales and solution
architects from both companies together to rapidly deliver solutions for the
China market.
The alliance's initial focus will be on selling the solutions in retail
banking area comprising Intellect GUB 10.0, Intellect Cards and Intellect
Consumer Finance. It will also explore to leverage the legacy analyzer tool
"Intellect Application Manager" for the cost-effective maintenance,
enhancement and modernization of legacy systems running in the large banks in
the region.
Commenting on the partnership, Mr. Arun Jain, Chairman & Chief Executive
Officer of Polaris Software Lab, said: "We are pleased to collaborate with
PCCW Solutions to distribute Intellect in mainland China, Hong Kong and
Macau. We are spending significant time developing strategic partnerships to
take Intellect to global banks. Intellect GUB 10.0 is an 'industrial
strength' banking platform and has established strong reference sites in
mature markets."
Mr. Jain added: "We believe that Polaris' Intellect GUB 10.0, together
with PCCW Solutions' professional implementation service and thorough
knowledge of local regulatory requirements, will bring world-class practices
to banking and insurance customers in the region to support their growth
strategies."
Mr. George Fok, Managing Director of PCCW Solutions, said: "By enhancing
our solutions portfolio with the Intellect GUB 10.0 from Polaris, we
demonstrate our commitment to delivering best-in-class solutions that empower
banking and insurance customers in China to achieve greater efficiency,
accelerate growth and mitigate risks. Our competitive edge is a combination
of rich expertise in the financial services industries, in-depth market
understanding, excellent project management and a strong track record of
successful mission critical projects."
Polaris has identified China, Russia, Latin America, Africa and Eastern
Europe as the growth markets for the Intellect suite of products. The company
last year successfully made its entry into Vietnam, Chile and Egypt as part
of its strategy to proliferate Intellect in emerging markets.
* Intellect Global Universal Banking (GUB) 10.0 is a unique banking
platform that can co-exist with legacy systems as well as support the
road-map for future modernization. Intellect GUB spans business processes
across Retail, Private and Corporate Banking, Capital Markets and Asset
Management. For the first time, such a comprehensive solution has been built
using SOA technology. The solution harnesses the power of SOA to modernize
bank's technology platform and enables bank to rapidly launch new products
for its emerging lines of business.
About Polaris Software Lab
Polaris Software Lab (POLS.BO) is a leading Financial Technology company,
with its comprehensive portfolio of products, services and consulting.
Polaris has a talent strength of over 9,000 solution architects, domain and
technology experts. The company owns the largest set of Intellectual
Properties in the form of a comprehensive product suite, Intellect Global
Universal Banking (GUB) 10.0. Intellect(TM) is the first pure play SOA based
application suite for Retail, Corporate and Investment banking.
Polaris is headquartered in Chennai and has offices in all global
financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai,
Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York,
Chicago, Fremont, Pittsburgh and Chile. For more information, please visit
About PCCW Limited
PCCW Limited (SEHK:0008) is the holding company of HKT Group Holdings
Limited (HKT), Hong Kong's premier telecommunications provider and a
world-class player in Information and Communications Technologies. PCCW also
holds a majority interest in Pacific Century Premium Developments Limited,
and overseas investments including the wholly-owned UK Broadband Limited.
As the provider of Hong Kong's first quadruple-play experience, PCCW/HKT
offers a range of innovative media content and services across four platforms
-
fixed-line, broadband Internet access, TV and mobile. In addition, the
Group meets the sophisticated needs of the local and international business
community, while supporting network operators with cutting-edge technical
services and handling large-scale IT outsourcing projects for public and
private sector organizations. To learn more about PCCW and HKT, please visit
About PCCW Solutions
PCCW Solutions is an operating division of HKT Group Holdings Limited
(HKT), which is a wholly-owned subsidiary of PCCW Limited and holds the PCCW
Group's telecoms services, media and IT solutions businesses. PCCW/HKT is
Hong Kong's premier telecommunications provider and a world-class player in
Information and Communications Technologies.
PCCW Solutions is the IT and business process outsourcing flagship of the
Group. Responsible for a growing number of large-scale IT projects in the
public and private sectors, PCCW Solutions holds a wealth of experience and
expertise and is viewed as a major industry player in Greater China. To learn
For more information, please contact:
Shailesh Dhawla
Polaris Software Lab
Tel: +91-99620-23124
Email: shailesh.d@polaris.co.in
Ivan Ho
PCCW Limited
Tel: +852-2883-8747
Email: ivan.wy.ho@pccw.com
SOURCE: Polaris Software
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