Polaris Enters Cloud Computing Arena Through IdenTrust Investment
Polaris Software Lab, a global financial technology company, has invested in IdenTrust, a provider of digital identity authentication services. This investment marks Polaris’ entry into the cloud computing space for financial technology solutions.
IdenTrust was founded in 1999 by a group of financial institutions that included Citigroup, Bank of America, Chase, Barclays, HSBC, and Deutsche. As the only bank- developed identity authentication system, IdenTrust provides a unique legally and technologically interoperable environment for authenticating and using identities worldwide. IdenTrust provides applications that use electronic identities that establish contracts, grant authority, support secure encrypted data and information storage and secure online interactions/transactions.
Polaris’ global customer base is a logical channel and network accelerator, and for its existing customers, the investment by Polaris reinforces their belief in the company as the leading global identity platform, while giving them a direct access to a comprehensive suite of next generation financial technology solutions.
Arun Jain, founder, chairman and chief executive officer (CEO), Polaris Software said: “With increasing dependency on the Internet, security solutions that incorporate identity management are a key element in any cloud offering. We believe that IdenTrust, being a proven provider of bank-grade identity authentication in 175 countries, will bring in the required expertise in this area allowing us to create more value for our clients by providing the most secure financial infrastructure solutions. We are excited about getting into a new area with this significant investment that shows our long term commitment to being a one-stop shop for all financial technology needs.”