Polaris signs MoU with PCCW Solutions

HONG KONG, CHINA: Polaris Software Lab Limited, a provider of Financial Technology services, today announced that they have signed a 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 would target banking, financial services and insurance companies in the region. Polaris would benefit from the strong local presence of PCCW Solutions, partner of leading financial institutions in mainland China and Hong Kong, said a press release.

This partnership would bring sales, presales and solution architects from both companies together to rapidly deliver solutions for the China market.

The alliance’s initial focus would be on selling the solutions in retail banking area comprising Intellect GUB 10.0, Intellect Cards and Intellect Consumer Finance.

It would 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.

Arun Jain, chairman and 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.”

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.”

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.”

He added that their 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.