Financial technology company Polaris Software Lab has bagged its largest ever project valued at $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 hardware and operating systems, it said.
“...This $55-million deal is the single largest Intellect win for Polaris,” the company Chairman and CEO, Mr Arun Jain, said.
The Reserve Bank has appointed KPMG for business process re-engineering, package and vendor selection and it would continue to work with the Bank until the project layout, it added.
Polaris Software Lab headquartered in Chennai, currently has a presence in 19 countries, the statement added.