There are two technological requirements for global and regional banks and other financial institutions - the need to centralize and consolidate their applications and the need to reduce total operational costs. Polaris’ FT Grid offers the ideal solution to meet both these requirements.
The Financial Technology Grid (FT Grid) is Polaris’ Cloud-based Financial Technology solution with a capacity to cater to 100 Million Customers (MC). The FT Grid is a complete Enterprise-class cloud-based Financial Technology solution suite with multiple features such as virtualization, scalability, reliability, global reach, 24×7×365 support with vernacular localization, and information security that enables services to be provided at the customer's doorstep. Its rich functionality, and yet, easy-to-implement features, will help banks to overcome difficulties in implementation of core banking complexities across the board.
Through the grid, Polaris offers its Financial Technology infrastructure and banking products on a pay-per-use model to banks and financial institutions through a ready-to-use platform with industry-standard hardware, middleware, RDBMS, and network connectivity components. To cater to the three major banking divisions, the FT Grid is offered in three different clusters. This distinction has been made to cater to ready markets across geographies, keeping their respective requirements in mind. The three clusters are:
- Cluster 7010 - Core Banking
- Cluster 8010 - Capital Markets
- Cluster 9010 - Corporate Banking
The FT Grid enables banks and financial institutions to readily access applications on a robust infrastructure, helping them to avail services on per account/branch per month or equivalent usage-based charges. The pay-per-use (Cloud) model cuts down the lead time required to purchase various components, thus allowing banks to start using applications much earlier than a traditional SI or outright purchase model. It will also allow clients to avoid license procurement and maintenance reducing costs significantly.
FTGrid’s Seven Dimensional Model (Security, Applications, Support, Connectivity, Reach, Localization, Deployment) offers its customers on-demand services with a required infrastructure, enabling them to shift their primary focus solely on core business.