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.