News

Polaris Launches Centre to Build Investment Banking Vertical Solutions

Polaris Software Lab has launched 'The Capital’, a center focused on building technology solutions for the Investment Banking vertical. Built with an investment of INR 70 crores, the 200,000-sq. ft. center is spread over an area of eight acres at the Manikonda IT Park, Hyderabad. The center has a capacity of 2000 seats. Currently, 1250 professionals are employed at the center.

The share of the IT spend on investment banking application and services is about 24 per cent of the total IT spend of banks and financial institutions and the segment is fast growing, the Chairman and CEO of Polaris Software Lab Arun Jain said. 'The Capital' contains eight Centres of Excellence within it, namely Securities, Money Markets, Derivaties, Foreign Exchange, Margin Lending, Fixed Income, Equities and Custody. "We plan to grow these revenues in the range of 5 million USD to 20 million USD in the next three to five years. In addition to the advanced markets like the US and the UK, The Capital is building transaction with other markets in Australia and Asia-Pacific," Jain said.

Arup Gupta, President and COO, Polaris Software Lab, said, "The Capital has relationships with the leading Wall Street Banks and seven out of the top ten Global Investment Banks. The revenues from most of these premium relationships (with the exception of two banks) are in the order of USD 1 million to USD 5 million. We plan to grow these revenues in the range of USD 5 million to USD 20 million in the next three to five years. In addition to the advanced markets like the US and the UK, The Capital is building traction with other markets in Australia and Asia-Pacific."

Kedarnath Udiyavar, Executive Vice President and Head, Investment Banking Solutions, said, "Training and stringent certification have been the backbone in developing expertise in this area. Our customers have used our training methodology and tools for training their own staff! The caliber of expertise in The Capital is reflected in the centre providing solutions for Front-Office Systems (customer interaction layer) in Investment Banks rather than just the Back Office or Middle Office systems being developed by other vendors."


print	save	email	comment