Polaris Consulting & Services (Polaris), earlier the Polaris Software Lab is one of the leading Digital Transformation companies in the world with particular emphasis on the Financial Services industry. Over the years we have built and run Universal Digital Channel (UDC) platforms for some of the biggest banks around the globe. Some of these platforms run in more than hundred countries, servicing millions of clients, and processing hundreds of millions of transactions every minute. In doing so Polaris has helped clients gain a substantial competitive advantage, resulting a big increase in market-share and share-of-wallet for them. Polaris Software Lab was incorporated in 1993 and is now one of India’s leading institutions contributing to the knowledge economy of the global financial services marketplace. In a quest for knowledge opportunity, spanning over the last 2 decades (11 years as Polaris), Polaris has established its solutions and services footprint globally contributing to the realization of the business vision of some of the world's leading giants in the money vertical. Polaris is organized into 7 Business Solution Centers (BSCs). Each BSC houses expertise in one of the domain areas. In March 2014 Polaris Financial Technology Ltd, demerged its Products (Intellect) business into an independent entity.
On March 3, 2016, Virtusa acquired a majority interest in Polaris Consulting & Services Limited to leverage the market presence and deep relationship that Polaris already built in the financial services space. During the integration period, it created a new market facing brand, VirtusaPolaris to represent the combined strengths of Virtusa and Polaris, including its strong software engineering heritage, deep domain expertise and focus on applying innovation to solving critical core business issues for clients. Having successfully completed the integration, it is now moving to the parent brand of Virtusa.
Milestones
- 1993-Polaris Software Lab Ltd Incorporated
- 1994-End to End Retail banking solution for Citi Bank India
- 1995-Quality Processes aligned to SEI- CMM Level 3 and Konark Trust formed
- 1996-Operations set up in USA
- 1997- First Overseas development Centre commissioned for CITI Bank. Wholly owned subsidiary found in Singapore and USA also Polestar Trust got started. Initiated the Navalur Facility Polaris awarded ‘Most Innovative Company’
- 1998- First large offshore contract CDC started wholly owned subsidiary in UK Quality Processes Aligned to SEI- CMM Level 4Quality Processes ISO -9001 certified Birth of Polaris Retail Infotech Limited
- 1999 -Crossed 1000 Associates milestoneInitial Public Offering, over-subscribed by 21 times First ATM Development Lab, First Secure Lab awarded ‘Best International Business Excellence’ Award
- 2000 -‘Foundation’ - a State-of-the-Art Development center inaugurated. Wholly owned subsidiaries in Germany, Switzerland and Australia Ranked among 'Fab Five' companies in India by Intelligent Investor Rated amongst Forbes World’s Best Small Companies
- 2001 - Formed a wholly owned Subsidiary in Ireland and commenced operations in Japan. Gurgaon Campus inaugurated the World’s First CMMi level 5 company. NASSCOM felicitates Polaris Software rated as the 'Fastest growing company in India' by Computers Today and Business World
- 2002 - Opened Business Continuity Centre in Singapore also 2nd Time Ranked amongst Top 200 Best Small Companies in the World. Ranked among Top 25 Best Employers in the country. Launch of Adrenalin. Ranked among Top 10 IT Wealth Creators - Business Today
- 2003 - Historic merger with OrbiTech (Citigroup Subsidiary) Birth of Intellect and Optimus Received ‘The Banker Technology’ Award
- 2004 - Crossed 5000 associates mark Became BS 7799 Certified Super-Specialty center for Financial Risk Management at Mumbai Launch of Intellect Suite of Products for Banking Solutions and Inaugurated ‘Intellect Court’ at Navalur
- Ranked 9th by NASSCOM Top 20 Exporters Received Mother Teresa Corporate Citizen Award
- 2005 - Launch of next generations Intellect Banking Platforms and Incorporation of Subsidiary in Canada
- 2006 - World’s First Super Specialty Center for Investment Banking, The Capital, Hyderabad Near Shore Centre in Belfast. Entry into Latin America and got recognized as Global Leader in the Specialty Application Development by Cybermedia
- 2007- ‘Corporate Banking’ New Center in Mumbai and Launch of PACE Lab in Sydney
- The Banker’s Award for Intellect Treasury
- Entering New Markets like Southern Europe & Nordic 2nd Year in a row - Global Leader in the Specialty Application Development Near-shore Testing Center at Canada
- 2008 -Opened new Branch office in Seoul, Korea
- 2011 - Polaris Financial Technology wins OPN specialized India ISV of the year award.
Polaris Launches Intellect FABX on iPad at Harvard Club of New York City
- 2013:
• Capability Maturity Model Integrated (CMMI) Level 5.
• Virtusa recognized as one of Britain's Top Employers for 2013.
• IAOP Names Virtusa a Best Ten Leader for the Entertainment and Media Industry.
• Pegasystems Partner Excellence Award for ‘Thought Leadership in Legal Services'.
• Virtusa Ranked in Boston Globe's ''Globe 100 List'' for the Second Consecutive year.
• Virtusa Wins Stevie® American Business Award for the Second Year in a Row.
• Virtusa Wins Asia's Best Employer Brand Award 2013.
• Virtusa named to InformationWeek 500 List of Top Technology Innovators.
• Virtusa wins the Golden Peacock Award for HR Excellence.
• Virtusa ranked in Forbes List of 100 Best Public Companies in America.
• Virtusa wins Silver Stevie at 2013 International Business Awards.
• Double Victory for Virtusa at National Exporters Awards, Sri Lanka.
• Virtusa wins Frost & Sullivan's 2013 Customer Value Leadership Award.
• Virtusa bags Silver 'B2B Brand of the Year' award at SLIM awards 2013, Sri Lanka.
• Virtusa wins four National Business Excellence Awards (NBEA) in Sri Lanka.
• Virtusa Named to List of Best Places to Work by The Albany Business Review.
• Virtusa Named to 2013 FinTech 100 List as a Global Leader in Financial Services Technology.
• Virtusa named as a Finalist in the Fierce Innovation Awards.
• Virtusa Named to Global Services 100 List.
• Virtusa Named a Global Top 20 Outsourcing Service Provider by ISG.
• 2014:
• Virtusa wins 'Asia's Best Employer' award for the second consecutive year - 2014- Polaris Launches Life Claims in the Cloud at the ACORD LOMA Forum
• Virtusa Named a Major Contender in Everest Group's PEAK Matrix for IT Outsourcing in Banking and Financial Services
• Virtusa's Kris Canekeratne honored with 'CEO of the Year' award
• Virtusa wins World HRD Congress Award for Innovation in Learning
• Virtusa awarded in National HR Conference 2014, Sri Lanka
• IAOP Names Virtusa a Best Ten Leader for the Entertainment and Media Industry
• Virtusa wins Silver Stevie at 2014 American Business Awards
• Virtusa Named as One of Britain's Top Employers for the fourth time in a row
• Virtusa's Darshana Pai honored with the Women Leadership Achievement Award in the IT sector
• Virtusa wins Gold for the Export ''Export Brand of the Year''
• Virtusa's ERA Insight wins 2014 NBQSA
• Virtusa named in Forbes List of 100 Best Public Companies in America
• Virtusa Named a Major Contender in 2014 Healthcare Payer ITO PEAK Matrix
• Virtusa ranked in IDC's 2014 Fintech list
• Triple Gold for Virtusa in the NCE awards, Sri Lanka
• Virtusa recognized in 2014 SHRM India HR Awards
• Virtusa named to Zinnov Global Service Provider Ratings for the fourth time in a row
• Virtusa Software Quality Assurance Debuts as a ''Leader'' in Annual NelsonHall NEAT Ratings
• INTEROP honors Virtusa's Darshana Pai with 'Women Achievers in IT' award
• Virtusa wins Special Award for Emergency Response at JASTECA Awards 2013
• Virtusa Named a Major Contender in Everest Group's PEAK Matrix for Large Insurance Application Outsourcing Relationships
• Virtusa's ERA Insight recognized in the Asia Pacific ICT Alliance Awards
• Virtusa Named a Major Contender in PEAK Matrix for Enterprise Cloud Application Services
• Virtusa's Praveen Purushotham named in the ''100 Most Talented Global Marketing Leaders''
• Virtusa named in 2014 FinTech Forward Rankings
• Virtusa wins service innovation of the year award by itSMF
• Virtusa named as finalist in Monster of HR Award 2014 - 2015:
• Virtusa Recognized with Silver Stevie Award for the best internal communications program
• Virtusa Recognized with Bronze Stevie Award for Investor Relations Campaign
• Virtusa wins award for HR excellence at Sri Lanka's National HR Conference
• Virtusa Named to CRN Solution Provider 500
• Virtusa wins gold at APAC Stevie Awards for human resource practices
• Virtusa Named a Leader in IAOP's 2015 Global Outsourcing 100 List
• Virtusa Ranked Most Valuable IT Export Brand in Sri Lanka
• Virtusa wins Adobe Marketing Cloud Innovation Award for 2015
• Virtusa wins Gold at HRM Awards 2014 for the fourth consecutive time
• Virtusa Recognised as Top Employer UK for the Fifth Consecutive Year
• Virtusa Recognized as ''System Integrator of the Year'' by OpenText India
• Virtusa Recognized as a ''Representative Vendor'' in Gartner Market Guide for MDM External Service Providers
• Virtusa Named a High Performer in the 2014 HfS Blueprint Report: Enterprise Mobility Services
• Virtusa Receives Frost & Sullivan's 2014 Global System Integration in Healthcare Product Line Strategy Leadership Award
• Virtusa Recognized As One of the Achievers 50 Most Engaged Workplaces In North America
• Virtusa wins SAP Quality Award for Business Transformation Project with Barmenia - 2016
- • Forrester research recognizes VirtusaPolaris as a leader among BPM Service Providers
• VirtusaPolaris named among the American Banker & BAI's top 50 Fintech Forward Companies
• VirtusaPolaris wins the 2016 best innovative launch campaign of the year award
• VirtusaPolaris recognized for testing capabilities in retail sector by the European Software Testing Awards (TESTA)
• VirtusaPolaris recognized for their strong testing capabilities in Finance sector by The European Software Testing Awards (TESTA)
• The European Software Testing Awards (TESTA) recognizes VirtusaPolaris for best automation project
• VirtusaPolaris' Sundararajan Narayanan Recognized with 2016 Outstanding 50 Asian Americans in Business Award
• Vodafone and VirtusaPolaris jointly wins the 2016 Global Sourcing Association (GSA) Awards under the telecommunication outsourcing project of the year category
• TMT News recognizes VirtusaPolaris as the Best IT Consulting & Outsourcing Provider and Recognised Leader in Application Outsourcing Services
• VirtusaPolaris' SARA wins Silver Stevie International Business Awards for the best new product or service of the year
• VirtusaPolaris' Global Technology Office wins Silver Stevie International Business Awards for the best IT team of the year
• VirtusaPolaris wins Bronze Stevie International Business Awards for strong investor relations program
• Forrester research recognizes VirtusaPolaris as a leader among BPM Service Providers
• VirtusaPolaris Named a Star Performer in Everest Group's PEAK Matrix for Application Outsourcing in Global Banking Services
• VirtusaPolaris recognized as niche player in Internet of Things by Zinnov
• Virtusa Corporation and Polaris Consulting Services among the top 100 Fintech organizations in the globe
• VirtusaPolaris wins Silver Stevie American Business awards for the Most Innovative Tech Company of the year
• VirtusaPolaris wins Gold Stevie American Business awards for exemplary investor relations program
• Gartner Recognizes VirtusaPolaris in 2016 Magic Quadrant for IT Services for Communications Service Providers, Worldwide
• NelsonHall NEAT report positions Virtusa Corporation as a leader in IoT Services
• VirtusaPolaris' Rama Sivaraman wins the Women Leadership Excellence awards in IT
• VirtusaPolaris Designated a Star Performer in Everest Group's PEAK Matrix for Independent Testing Services.
• VirtusaPolaris named in the CRN Solutions Provider 500 by the Channel Company
• VirtusaPolaris Named as Amdocs' Best SI Partner in the Digital Domain
• VirtusaPolaris Named as Amdocs' Best SI Partner in the Digital Domain
• Virtusa Corporation Recognized as an Outsourcing Leader by the International Association of Outsourcing Professionals (IAOP)
• Virtusa Recognized with Gold Stevie Award for Excellence in Human Resources
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