Mumbai: Polaris Software Lab Ltd has announced the global rollout of its Next-Generation, SOA-based intellect cash and liquidity management platform with a global top 10 bank choosing this software.

The southern Europe-based bank is considered a pioneer in deployment of innovative banking technology, Polaris said.

Polaris said its `cash management' solution has found wide acceptability with global banks due to its rich functionality and modern SOA back plane technology. The solution enables banks to offer liquidity products, letting their customers have rule-based optimisation of their cash.

The engagement that commences this month, involves global rollout of intellect cash and liquidity platforms. The implementation will begin in the European locations and will then extend to North America and Latin America.

"SOA is considered as the fifth big paradigm in the IT industry after data centers, PCs / servers, business applications and internet. Reports published by Gartner reveal that the market for service-oriented architecture was $450 million in 2005 and is expected to reach $18.4 billion by 2012. With a strong SOA back plane for deployment, Polaris is well positioned to ride the SOA wave," said Arun Jain, chairman and CEO of the company.

The customers of the global mega banks have their cash fragmented into multiple accounts in different currencies and locations. Thus they are often faced with a situation where they end up paying interest on debit balances though they have surpluses in oilier accounts. On top of it, the surplus balances earn marginal or no interest due to market and regulatory conditions. Polaris software offers an effective solution to this problem.