Polaris Software Lab Limited
Polaris Software Lab Limited is a India-based global banking and financial IT and management consultancy company. It is quoted on the Bombay Stock Exchange. It claims to be the first company in the world to be assessed and certified CMMi Level 5 (in 2006). As of 2006, the company is active in 14 countries and has 10,000 employees.
Overview
Polaris Software Lab Ltd is headquartered in Chennai. It provides solutions and services in information technology for the global financial services marketplace.
Polaris has operations in Canada, United States, United Kingdom, Germany, France, Switzerland, Ireland, Singapore, Australia, Saudi Arabia, Bahrain, UAE and Japan.
History
Polaris Software Lab Ltd. was incorporated in 1993. Polaris was one of the first vendors that Citigroup chose to partner with, when it decided to enter India. In parallel, Citigroup also started its own company called COSL (Citibank Overseas Software Ltd). COSL was later re-christened as Orbitech only to be later merged with Polaris.
Business units
Polaris is organized into 7 Business Solution Centers (BSCs). Each BSC houses expertise in a focused financial domain and caters to clients involved in the same area of business expertise. BSC 1,2,3 are based in Chennai. BSC 4 is in Hyderabad. BSC 5 & 7 are in Mumbai. BSC 6 is in Gurgaon (near Delhi).
Clients
Clients include global financial services institutions like Nikko Citigroup, Citigroup, Bear Stearns, Commerzbank, ABN Amro, Shinsei Bank, UBS, Deutsche Leasing, Maybank, DBS Bank, RBS, HSBC, Barclays,Presto etc.
Recognition
Polaris was recognized by the Smithsonian Institute in 1993 for creating the first ever banking solution on distributed architecture.
Polaris has won for the second consecutive year Global Services 100 in the specialty applications development category
Polaris' Intellect Treasury wins the The Banker Capital Markets Projects Award 2007