 "Polaris Enters Cloud Computing Space Through IdenTrust")
Polaris Software Lab Limited, a global Financial Technology Company has announced a strategic investment in IdenTrust, an identity solutions provider. This strategic investment will mark Polaris’ entry into the cloud computing space for Financial Technology solutions.
For IdenTrust, 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.
Zions Bancorporation, a financial services company, will be a significant equity holder in IdenTrust. Polaris has a significant majority in the shareholding pattern, while Zions will maintain a substantial minority position.
“As a global leader in identity solutions with scalable and globally interoperable identity authentication solutions, we occupy a premier position in our field of operations. We needed a partner with scale and reach who can fuel our growth and provide us access to various global markets and we are very excited to join the Polaris family that has a legacy of providing cutting edge solutions to large financial institutions globally,” said Karen J. Wendel, Chief Executive Officer, IdenTrust.
“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 FinTech needs,” said Arun Jain, Founder, Chairman & CEO, Polaris Software.
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