PolarLake and Capgemini Form Alliance for Financial Services
Published November 8, 2011
Dublin, Chicago – November 8, 2011 – The Financial Services Global Business Unit of Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, and PolarLake, a leading software vendor providing a platform for Reference Data Management (RDM) and distribution for financial institutions,today announced they have entered into an alliance to improve comprehensive enterprise data management for financial services companies.
The alliance will combine PolarLake’s unique RDM software with Capgemini’s vast financial services domain expertise and global delivery capabilities to provide existing and prospective clients in financial services markets significantly improved data management platforms that add scalability and efficiencies. This offering will also help clients cut down on the considerable costs associated with updating and maintaining complex, legacy enterprise data management systems that are often custom-made. As part of this alliance, Capgemini will establish PolarLake Centers of Excellence at its Global Delivery Centers.
Increases in regulatory pressures, the need for clean reference data and verified transparency around sourcing and management are compelling companies to retrofit their data management capabilities, which can lead to higher total cost of ownership. The agreement between PolarLake and Capgemini will provide organizations with a reference data management solution that is specifically designed to meet these growing needs and provide a platform to meet future needs.
“Financial institutions worldwide are under pressure to find solutions to achieve compliance, gain efficiencies, reduce costs and add product delivery capabilities that will enable them to remain competitive in capital markets,” said Aloke Paskar, Head of Capital Markets Business Unit, FS GBU Capgemini.“Capgemini established an alliance with PolarLake to combine its unique platform with our global execution capabilities, allowing our customers to implement data management solutions that encourage speed to market, flexibility and extensibility this competitive market demands.”
“Our partnership with Capgemini will help current and future clients manage their enterprise wide data management and distribution platforms with increased agility, speed and adaptability while empowering the business and IT,” said John Randles, CEO, PolarLake.
PolarLake’s Data Management Platform enables some of the largest firms in Financial Services to acquire, manage and distribute Financial and Reference Data with speed, agility and control with embedded Security not seen before in the Data Management Market.
Financial Services Clients using PolarLake products include 6 of the top 10 Investment Banks, 2 of the top 5 Prime Brokers and 2 of the top 10 Asset Managers. Clients have used PolarLake to make in house and commercial Data Repositories easier to distribute and consume data from. Others have used PolarLake in the end to end Data Supply Chain, sourcing, linking, validating and distributing data.
With around 115,000 people in 40 countries, Capgemini is one of the world's foremost providers of consulting, technology and outsourcing services. The Group reported 2010 global revenues of EUR 8.7 billion. Together with its clients, Capgemini creates and delivers business and technology solutions that fit their needs and drive the results they want. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business ExperienceTM, and draws on Rightshore®, its worldwide delivery model.
Learn more about capgemini at www.capgemini.com.
Rightshore® is a trademark belonging to Capgemini
About Capgemini’s Financial Services Global Business Unit
Capgemini’s Financial Services Global Business Unit brings deep industry experience, innovative service offerings and next generation global delivery to serve the financial services industry. With a network of 17,000 professionals serving over 900 clients worldwide, Capgemini collaborates with leading banks, insurers and capital market companies to deliver business and IT solutions and thought leadership which create tangible value.
Enda Higgins, Marketing Executive, PolarLake
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