Chennai : Polaris Software, a leading Financial Technology company, today announced that Forrester Research, Inc. has recognized Polaris and its IntellectTM suite of products as a Strong Performer in the recently released report1 ‘The Forrester Wave™ Global Banking Platforms, Q4 2010.’ This is Polaris’ debut in the Forrester Wave report where it has emerged as a Strong Performer.

According to the report, “Polaris Intellect and its 13 evaluated modules gain strong scores in areas such as SOA readiness, multichannel enablement, process execution, and document management integration.” The report further adds that, “While SOA readiness is not an issue with any of the compared platforms, Intellect offers one of the two highest levels of SOA readiness. In addition, Intellect’s scores show cross-channel support for a broad range of channels as well as a sound degree of platform agility.”

“Polaris’ corporate strategy received a strong score because of Polaris’ clear focus on the banking platform business. Product strategy is just sound, with planned functional enhancements earning the highest score within Polaris’ product strategy scores.” according to the report. “Consider Polaris for your vendor shortlist if you are seeking banking platform components as a basis for custom-built applications, to enable a step-by-step-transformation approach…” the report further added.

Forrester Research conducted primary research to develop the initial list of vendors that meet its evaluation criteria and from that pool of vendors, it narrowed down on its final list based on: 1) product fit; 2) customer success; and 3) Forrester client demand. The final seven vendors and their products were then assessed based on qualification criteria that included (1) Functional coverage of a large part of the functional map for banking, (2) swift architectural approach that supports an agile banking platform, (3) well balanced success in 2008 and 2009 wherein participating vendors must have won more than 15 banking platform deals in 2009 or at least five deals in 2008 and in 2009, (4) global delivery capability and (5) mindshare among Forrester’s client base.

Speaking on the occasion Arun Jain, Chairman & CEO, Polaris Software, said, “This report reiterates Polaris’ capabilities in the banking platform on a global scale. It is a testimony of our continued focus and commitment towards delivering flexible, efficient and scalable solutions. As a debutant in this report, we take pride in being rated a strong performer.”

1 “The Forrester Wave™: Global Banking Platforms, Q4 2010” December 17, 2010