Polaris enters cloud computing space, invests in IdenTrust

by CXOtoday Staff    Apr 27, 2011

cloud spacePolaris Software Lab, a financial technology company today announced a strategic investment in IdenTrust, an trusted identity solutions provider recognized by global financial institutions and one of the premier providers of digital identity authentication services to several key banks, United States federal identity programs as well as supply chain markets. This investment will mark Polaris’ entry into the cloud computing space for Financial Technology solutions.

On choosing Polaris as its lead investor, John Sculley, Chairman of the Board of Directors, IdenTrust said, “IdenTrust and Polaris are both innovative and powerful players in the banking space, and I am confident that, together, they will be able to drive even more compelling new products and services on a global basis.”

According to the company, IdenTrust provides a legally and technologically interoperable environment for authenticating and using identities worldwide; in addition to providing applications that use electronic identities that establish contracts, grant authority, support secure encrypted data and information storage and secure online interactions/transactions.

“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,” remarked Arun Jain, Founder, Chairman and CEO, Polaris Software.

For IdenTrust, as reported, 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 global identity platform, while giving them a direct access to a comprehensive suite of next generation financial technology solutions.

“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,” commented Karen J. Wendel, CEO, IdenTrust.

Digital security is key for next generation banking, and IdenTrust’s existing products such as Trust Sign in the certificate space and Trust Prime in the eBAM space are supported by a globally interoperable legal and technology framework to deliver the highest levels of security on a cloud.