BWI: Polaris Launches School of Financial Technology

Press release from Business Wire India
Source: Polaris Software Lab Limited
Friday, October 22, 2010 01:10 PM IST (07:40 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
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Polaris Launches School of Financial Technology
New Facility in Hyderabad Marks First Phase of the Launch Slated for Third Quarter of FY 2011

Chennai, Tamil Nadu, India, Friday, October 22, 2010 -- (Business Wire India) -- Polaris Software Lab Limited (POLS.BO), a leading Financial Technology Company today announced the launch of first phase of The School of Financial Technology, with the acquisition of a 50-acre facility owned by Catalytic Software Ltd., (CSL) Hyderabad; Principal shareholder of CSL being Catalytic Software, Inc. headquartered in Seattle. Polaris acquired the company and its assets at a 100% cash buyout, and the new facility will be utilized as a residential Talent Development centre and for expansion of ODCs (Offshore Development Centre).

As a global leader in Financial Technology, we realize that continuous training & skill upgradation of human resources assumes critical importance towards absorption of new technologies. With the banking sector increasing in scale and complexity, there is a huge demand for trained manpower as well as a new genre of management professionals to meet the emerging challenges. The School of Financial Technology aims at generating over 1,000 highly skilled 'techno-bankers' a year for Polaris' growing needs to service its Top Global 50 accounts.

The school will operate out of an iconic campus with dome-shaped buildings; a world class infrastructure to increase efficiency and responsiveness contributing to a truly inspired learning environment. The unique layout offers an open setting against a green backdrop, with beautifully maintained amenities and recreation facilities designed to support community learning.

Situated on the fringes of India's hi-tech hub, Hyderabad, a mere 20 minutes from the international airport, the dome shaped buildings are both cost and energy efficient. The key features of this eco-friendly and quake resistant domes (32-feet in diameter and 26-feet tall) are safety, energy efficiency and low cost (typically, the domes can be built at 30 per cent less than conventional buildings). In short, a stable and rapidly scalable facility that is ideal to inspire and cultivate knowledge transfer.

Speaking on the occasion Mr. Arun Jain, Chairman & CEO, Polaris Software, said, "The gap between demand and supply for skilled manpower has always been a concern for the entire IT industry and this gap increases further when it comes to specialized domains like financial technology. To bridge this gap and to enhance the level of our global delivery and efficiency, we made this strategic investment. We are very excited on the prospects of the new centre in Hyderabad and bullish about its output in terms of skilled manpower."

The School of Financial Technology will offer Certificate full syllabus 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 Customised Enterprise Training Workshops. The courses are offered to Polaris associates and will be extended to the company's key G8 accounts.

Speaking about the venture, Mr Kedarnath Udiyavar, Dean of School of Financial Technology, said, "Being a pioneer in the Financial Technology space, Polaris has always had the required ingredients to germinate a world class Financial Technology School. I am proud to be a part to this movement that will bring a new wave of talent to the global banking and financial technology industry."

About Polaris Software Lab

Polaris Software Lab (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 10,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, IntellectTM Global Universal Banking (GUB) 10.0. IntellectTM is the first pure play SOA based application suite for Retail, Corporate, Investment banking and Insurance. Polaris is headquartered in Chennai and has offices in all global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York, Chicago, Fremont, Pittsburgh and Chile. For more information, please visit http://www.polarisFT.com/

About Catalytic Software, Inc.

Catalytic Software is a Seattle based company founded by Swain Porter and G. Eric Engstrom. The company helps global brands build new bridges to their audiences, and open new channels for their audiences to talk back. They help hi-tech start-ups turn a great idea into award-winning products, and a great product into an industry-changing force. With state-of-the-art facilities, exceptional engineering talent, CMMI 5 quality processes and outstanding customer service, Catalytic provides turn-key delivery solutions that help clients gain greater competitive strength. From cable networks to wireless carriers to big brands, customers benefit from Catalytic's depth of experience in interactive consumer applications, new technologies, platforms, and distribution channels. For more information, please visit http://www.catalytic.com/

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CONTACT DETAILS
Shailesh Dhawla, Polaris Software Lab Limited, +91 9711811460, shailesh.d@polaris.co.in
Dwaipayan Deb, Polaris Software Lab, +91 9962536442, dwaipayan.d@polaris.co.in

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY

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