Polaris unveils 'world's biggest cloud service'

An Indian financial tech firm, Polaris, has rolled out what it claims to be the world's biggest cloud computing service which can support around an astonishing 100 million users, reports CrazyEngineers.

The financial technology company hopes to earn $100 million in five years by offering its core banking solution and other software on a cloud computing basis, says The Economic Times.

According to The Hindu, the Grid will enable Polaris to offer its financial technology infrastructure and banking products on a pay-per-use (cloud) model to banks and financial institutions.

It will be a ready-to-use platform with industry-standard hardware, middleware, relational database management system and network connectivity components changing the face of banking globally.

Polaris has entered into a three year MOU with US-based IdenTrust and IBM to offer the service. IdenTrust will secure the solution on the cloud platform, while IBM would be the technology partner, Polaris Software Lab executive VP (FT Grid) Jaideep Billa said.