Polaris bags USD 55 mn project to implement CBS for RBI
Financial technology company PolarisSoftware Lab has bagged its largest ever project valued at USD 55 million to implement its flagship Intellect Core Banking System (CBS) for the Reserve Bank of India
Financial technology company Polaris Software Lab has bagged its largest ever project valued at USD 55 million to implement its flagship Intellect Core Banking System (CBS) for the Reserve Bank of India.
Intellect CBS for RBI would help it have a cross-functional and seamless automation and integration of banking operations in all regional offices of the Bank, Polaris Software Lab said in a statement.Intellect CBS would seamlessly integrate into the IT environment and to the infrastructure of RBI, meeting all its work flow requirements.It would provide a "very efficient" integration and interface with a large number of systems running on varied hardwares and operating systems, it said."...This USD 55 million deal is the single largest Intellect win for Polaris", Polaris Software Chairman and CEO Arun Jain said. Reserve Bank has appointed KPMG for business process reengineering, package and vendor selection and they would continue to work with the Bank until the project layout, it added.Polaris Software headquartered in Chennai, currently has a presence in 19 countries, the statement added. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
