JERSEY CITY, N.J. & LONDON & CHENNAI, India--(BUSINESS WIRE)--Polaris Financial Technology Limited, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, recently launched the Financial Forensics Platform at the FT Design Series in London. Polaris will use Hortonworks, a leading contributor and provider of enterprise Apache™ Hadoop®, a strategic element of the solution.
With the goal of addressing the Money Laundering and Fraud issues faced by financial institutions, Polaris unveiled a unique platform named ‘Financial Forensics Platform’ (FFP). As a modular solution, FFP will help rapidly investigate irregularities, specifically those relating to Anti Money Laundering (AML), Fraud, and Risk & Regulatory. The launch received an unprecedented level of interest, as the AML module of FFP was showcased to CIO’s, Business & Technology Heads and Senior Data Architects from leading banks in the UK and Europe.
Built using Polaris’ and Hortonworks’ state-of-the-art technology, FFP will enable the processing of structured, semi-structured and unstructured data in a bank’s existing system. The solution will complement the bank’s existing AML solution, and provide the ability to process enormous data efficiently with critical business analytical abilities that Big Data enables.
Speaking at the launch, Jitin Goyal, CEO, Polaris FT Services said, “As an advanced solution, designed based on Big Data techniques, FFP comes at a right time, when banks are in dire need to handle myriad of challenges from economic conditions, with regulators heavily clamping down on financial institutions. This platform will help recognise and prevent fraudulent activities in near real-time.”
Polaris is now working with various banks and industry bodies to swiftly onboard this solution, to help them lead the battle from the front as well as help their partners across the globe.
About Polaris Financial Technology Ltd
Polaris Financial Technology Limited is a global leader in Financial Technology for Banking, Insurance and other Financial Services. With over 25 years of expertise in building a comprehensive portfolio of products, smart legacy modernization services and consulting, Polaris owns the largest set of Intellectual Properties for a comprehensive product suite, Intellect® Global Universal Banking (GUB) M180. Intellect® is the world's first pure play Service Oriented Architecture (SOA) based application suite for Retail, Corporate, Investment banking and Insurance. Its acclaimed products, solutions and services enable unprecedented operational productivity for the global Financial Services Industry by Building, Maintaining, Expanding and Extending highly complex and Integrated Financial Technology Infrastructure.
This makes Polaris the chosen partner for 9 of the top 10 global banks and 7 of the top 10 global insurance companies. The company has a global presence through its 40 relationship offices across 30 countries, 6 international development centers and 8 fully owned Business Solution centers. Polaris has a talent strength of over 13,000 solution architects, domain and technology experts. For more information, please visit http://www.polarisFT.com/.
