VirtusaPolaris

Polaris Consulting & Services Limited
Public
Traded as BSE: 532254
NSE: POLARIS
Founded 1993
Headquarters Chennai, India[1]
Area served
Worldwide
Key people
Kris Canekeratne (Chairman)
Services Business consulting, IT Services and Business process outsourcing
Revenue US $ 315 Million [2]
Profit US $ 19.53 million [3]
Number of employees
18,500 (2017) [4]
Website www.virtusa.com

Polaris Consulting & Services Limited[5] (BSE: 532254 ; NSE: POLARIS), formerly Polaris FT, is a provider of financial technology products, legacy modernization services and consulting for core banking, corporate banking, wealth & asset management and insurance. [6] Virtusa is the market facing brand of Virtusa Corporation and Polaris Consulting & Services Limited.

History

Polaris has its origins in Nucleus Software.[7]

Polaris Consulting & Services Limited was incorporated in 1993 by Mr.Ravi Dehariya (Jabalpur Dist). It was one of the first vendors that Citi Group chose to partner with, when it entered India.[8] Simultaneously, Citigroup started its own company called COSL (Citibank Overseas Software Ltd) to utilize the intellectual capital at a competitive cost in India. COSL, later renamed as Orbitech, was then merged with Polaris. In 2003, Polaris launched its core product portfolio, IntellectTM. In November 2011, the organization changed its name from Polaris Software Labs Limited to Polaris Financial Technology Limited to highlight its primary domain of operation.[9]

On March 3, 2016, Virtusa Corporation acquired a majority stake in Polaris Consulting & Services Limited. VirtusaPolaris is the market facing brand of Virtusa Corporation and Polaris Consulting & Services Limited. [10]

Operations and global offices

Polaris is headquartered in Chennai and has offices around the world.

In April 2013, Polaris launched its 8012 FT Design Center - the world's first Center dedicated to Financial Technology. 8012 FT Design Center is spread over 30,000 sq. ft and is located in the 22 acre Polaris campus on the IT Highway in Chennai.[11]

Milestones

Subsidiaries

Apart from the Polaris Financial Technology Limited’s global subsidiaries, the company has the following Subsidiaries and Associate companies:

Education and Training

Nalanda, the Corporate University of Polaris is aimed at bringing the core of organizational processes together through learning and development initiatives that would enable associates to reach out to the latest modules and approaches to organizational learning.[58]

Polaris' School of Financial Technology (SoFT) aims creating skilled associates to service its premier clients.[59] It will offer certificate courses at both the ‘primer’ and ‘practitioner’ levels, executive fast-track modules in Retail Banking, Core Banking, Investment Banking and Corporate Banking as well as customized enterprise training workshops. The facility is located in Hyderabad.

Recognition

Controversies

References

  1. "Polaris Consulting and Services Limited - Head Office".
  2. http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=3443601
  3. http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=3443601
  4. "VirtusaPolaris in tune to achieve target of synergy revenue of $100 mn".
  5. http://www.polarisft.com/about-us/about-us.asp
  6. "About AeSys".
  7. Financial Technology Ltd, Polaris. "Company zxzxxzAnnouncements".
  8. "Citigroup Partner".
  9. Financial Technology Ltd, Polaris. "Company Announcements".
  10. http://economictimes.indiatimes.com/tech/ites/virtusapolaris-launch-new-brand-identity/articleshow/52188100.cms
  11. "Polaris Launches FT 8012 - the World's First Design Center for Financial Technology".
  12. "Polaris Software Lab Ltd".
  13. "Citi Bank".
  14. "SEI- CMM Level 3".
  15. "Ullas Trust".
  16. "Polestar Trust".
  17. "Wholly owned subsidiary founded in UK".
  18. "SEI- CMM Level 4".
  19. "ISO -9001 certified".
  20. "Polaris Retail Infotech".
  21. "Initial Public Offering".
  22. "Best International Business Excellence".
  23. "CMMi level 5".
  24. "Top 200 Best Small Companies".
  25. "merged with OrbiTech".
  26. "Intellect".
  27. "Optimus".
  28. "The Banker Technology' Award".
  29. "Super-Specialty center for Financial Risk Management".
  30. "Intellect Suite".
  31. "Ranked 9th by NASSCOM".
  32. "Mother Teresa Corporate Citizen Award".
  33. +Software+Lab+Ltd.&Ticker=PolarisSoft&MajorSector=1 "Super Specialty Center for Investment Banking" Check |url= value (help).
  34. "Belfast".
  35. "Entry into Latin America".
  36. "Global Leader in the Specialty Application Development by Cybermedia".
  37. "PACE Lab".
  38. "Specialty Application Development - 2nd Year in a row".
  39. "Near-shore Testing Center inaugurated in Canada".
  40. "Polaris acquired SEEC".
  41. "Best CSR Practice Awards".
  42. "Polaris acquired Laser Soft".
  43. "Laser Soft won NDTV Business Leadership Awards".
  44. "Polaris acquired IndigoTX".
  45. "Launched Intellect Privacy Internet Banking Security Card".
  46. "Launched Intellect™ GUB M 180".
  47. "Early Technology Adopter".
  48. "Polaris Launches the School of Financial Technology".
  49. +Financial+Technology+Ltd.&Ticker=Polaris+Fin&MajorSector=1 "SAMPADA was awarded the Best CSR Practice Award" Check |url= value (help).
  50. "Polaris invests in IdenTrust".
  51. "‘Champion of Learning’".
  52. "Awards at 5th Asian Banker Technology Implementation Awards 2011".
  53. "Polaris enters Cloud Computing space".
  54. "Polaris acquired Pyxis Systems".
  55. Solutions Limited (PESL), Polaris Enterprise. "PESL".
  56. Private Limited, NMS Works Software. "NMS".
  57. Polaris FT Limited, Sonali. "Sonali Polaris FT Limited".
  58. Corporate University of Polaris, Nalanda. "Nalanda".
  59. Polaris' School of Financial Technology, Polaris'. "SoFT".
  60. "Polaris featured in FinTech".
  61. "Polaris' 'Ullas Trust' wins the Best CSR Practice Awards".
  62. "Cybermedia".
  63. "The Banker Capital Markets Projects Award".
  64. "World’s Best Small Companies".
  65. "CEO of India's Polaris Software Is Arrested by Indonesian Police".
  66. "Jakarta releases Polaris CMD Arun Jain".
  67. "Sebi bars Polaris' Arun Jain from securities mkt for 2 years".
  68. "HC stays SEBI order restraining Polaris chief from dealing in shares".
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