Chennai, Tamil Nadu, India and Jersey City, New Jersey; USA, London,UK, Tuesday,
November 12, 2013 -- (Business Wire India)
Leverages Hortonworks to apply Big Data to preclude fraud and money laundering
Polaris Financial Technology Limited, a leader in products, solutions and
services that enable unprecedented operational productivity for the global
Financial Services industry, recently launched the Financial Forensics Platform
at the FT Design Series in London. Polaris will use Hortonworks, a leading
contributor and provider of enterprise Apache™ Hadoop®, a strategic element
of the solution.
With the goal of addressing the Money Laundering and Fraud issues faced by
financial institutions, Polaris unveiled a unique platform named ‘Financial
Forensics Platform' (FFP). As a modular solution, FFP will help rapidly
investigate irregularities, specifically those relating to Anti Money Laundering
(AML), Fraud, and Risk & Regulatory. The launch received an unprecedented level
of interest, as the AML module of FFP was showcased to CIO's, Business &
Technology Heads and Senior Data Architects from leading banks in the UK and
Built using Polaris' and Hortonworks' state-of-the-art technology, FFP will
enable the processing of structured, semi-structured and unstructured data in a
bank's existing system. The solution will complement the bank's existing AML
solution, and provide the ability to process enormous data efficiently with
critical business analytical abilities that Big Data enables.
Speaking at the launch, Jitin Goyal, CEO, Polaris FT Services said, “As an
advanced solution, designed, based on Big Data techniques, FFP comes at a right
time, when banks are in dire need to handle myriad of challenges from economic
conditions, with regulators heavily clamping down on financial institutions.
This platform will help recognise and prevent fraudulent activities in near
Polaris is now working with various banks and industry bodies to swiftly onboard
this solution, to help them lead the battle from the front as well as help their
partners across the globe.
About Polaris Financial Technology Ltd
Polaris Financial Technology Limited is a global leader in Financial Technology
for Banking, Insurance and other Financial Services. With over 25 years of
expertise in building a comprehensive portfolio of products, smart legacy
modernization services and consulting, Polaris owns the largest set of
Intellectual Properties for a comprehensive product suite, Intellect® Global
Universal Banking (GUB) M180. Intellect® is the world's first pure play Service
Oriented Architecture (SOA) based application suite for Retail, Corporate,
Investment banking and Insurance. Its acclaimed products, solutions and services
enable unprecedented operational productivity for the global Financial Services
Industry by Building, Maintaining, Expanding and Extending highly complex and
Integrated Financial Technology Infrastructure.
This makes Polaris the chosen partner for 9 of the top 10 global banks and 7 of
the top 10 global insurance companies. The company has a global presence through
its 40 relationship offices across 30 countries, 6 international development
centers and 8 fully owned Business Solution centers. Polaris has a talent
strength of over 13,000 solution architects, domain and technology experts. For
more information, please visit http://www.polarisFT.com/.
Media contact details
Minal Sahani, Media Relations,
Polaris Financial Technology Ltd.,
+91 91766 26468,
G. Sunanthy Devi, Investor Relations,
Polaris Financial Technology Ltd,
Contributed via: Bloomberg Publisher WEB Service
Provider ID: 287f01de6d0749d482351003a454c26f
-0- Nov/12/2013 12:53 GMT
Press spacebar to pause and continue. Press esc to stop.