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Polaris Consulting & Services Ltd. Company History and Annual Growth Details

2000

- A stock split in the ratio of 2:1 i.e. a sub-division of every equity
share of the company, face value of Rs. 10/- into two equity shares of
Rs. 5/- each.

- The Company has signed MoU with New Jersey based DATA Inc.
(www.dataincusa.com) for strategic acquisition.

- The Company has joined the select group of software majors including
TCS, PentaMedia and Ramco Systems, to establish a state-of-the -art
software development facility near Chennai.

- The Company has signed an MoU with New Jersey-based Data Inc., for a
strategic acquisition.

- Switzerland has invited India's Polaris Software Lab Ltd. to set up a
wholly owned subsidiary in the country to provide solutions for Swiss
banks as well as for Europe's financial services and insurance
industry.

- Polaris Software Lab Ltd, the Rs 160-crore Chennai-based software
company, has in a sudden move called off the $21-million acquisition of
Data Inc, USA.

- The Chennai-based Polaris Software Lab Ltd. has set up a facility for
research on technologies of the Internet age.

- Polaris Software Lab Ltd. has launched its suite of banking software
products under the BankWare brand name.

- The Company has launched their newest offering, BankWare, a unit that
would out banking products to address the new and emerging technology
needs of banks.

2001

- The shareholders of Polaris Software Lab Ltd. will get a bonus of one
share for every two shares held, and a dividend of 30 per cent for
fiscal 2000-2001.

2002

- High Court of Madras approves merger of Tiptop Holdings with Polaris
Software.

-Polaris Software Lab Ltd on March 22, 2002 announced that it had entered into strategic partnerships with two billion dollar clients that are among the leaders in their respective industries.

-Polaris Software Lab Ltd on July 10, 2002 announced that Mr V Balaraman has been inducted onto the Board of Polaris Software Lab.

-Polaris Software Lab, has identified the inherent potential with the IT related services industry and specifically within the BPO space. We are ready with a detailed strategy for the launch of Optimus, a venture that will be a 100% subsidiary of Polaris. Optimus will be powered by new age management, a responsibility that we entrusted to Harpal Dugal, who joined us from Stanchart and will be CEO- Optimus, along with Suren Khirwadkar, who joined us from Citi, as Executive Director- Optimus.

2003

-Polaris Software has been the major loser in the stock market which was mainly due to
the selling pressure

-The bottomline of Polaris Software has declined by 34% due to the recent Indonesian
Safari.

-Polaris Software tied up with Deutsche Leasing group for the purpose of finding
product based solutions.

-Polaris Software initiates arbitration against Bank Artha Graha, Indonesia over the
commercial dispute involving $1.3 million alleging failed delivery of contractual obligations.

-Company issues 690 equity shares of Rs.5 each under the Employee Stock Option Scheme
to the Lal, Rajput and Parthiban, NRI employees.

-Polaris Software Labs has said post merger with Orbitech, the company would be in a position
to launch banking solutions on a quarterly basis.

-Nat Narayanaswamy of Polaris Software Ltd, who worked as the director of the Polaris
Retail Infotech and Senior vice President, strategic alliances has submitted his resignation
to the company.

-Polaris Software Labs would take over the software work that Orbitech solutions had
sub-contracted to Kale consultants prior to Orbitech's merger with Polaris.

-Polaris Software Ltd has won the Banker Technology Award 2003 in a Multi Channel Integration for its Orbi One Direct Product.

-Polaris, iflex and Infosys have recorded the fastest topline growth among software companies.

-Polaris Software Ltd has announced the successful deployment of NEC's Global Banking System product at the Yachiyo Bank, Japan.

-Polaris - Change in Management
Resignation of Mr.G.N Mathur, Mr.M.L. Garg and Mr.Ajay Relan, directors
Appointment of Mr.Ram Bhagwat, Mr Ajit Bhushan, Mr Dipak Kumar Rastogi and
Mr.Venkatachalam Krishnakumar as additional directors.

-Ram Bhagwat and Govind Singhal were appointed as the whole time Directors

- Allotment of 7955 equity shares of Rs 5 each to employees/Directors of the company pursuant to the conversion of Stock Options issued and exercised by the employees under the Associate Stock Option Plan.

2004

-Polaris Software Lab Ltd has informed that the Shareholders Committee of the Board of Directors of the company has allotted new 1,82,733 & 51,080 equity shares to its employees under Associate Stock Option Plan 2001 & 2000 respectively.

-The Mother Teresa Award for Corporate Citizen 2003 instituted by the Loyola Institute of Business Administration (LIBA) was conferred on Polaris Software Labs Ltd and the commendation award to Larsen and Toubro Ltd.

-Polaris Software Lab Ltd unveils 'Intellect Suite'- a modern enterprise platform for financial services institutions

- Polaris Software Lab appraised at CMMI Maturity Level 3 for Software engineering

-CTG & Polaris partner to provide outsourcing solutions to Financial Services Industry

2005

-Polaris Software unveils 'CollectNet' solution.

-Polaris Software signs up Lloyds TSB, one of the most prestigious high street banks in UK for Intellect Suite.

2006

-Polaris Software appoints new CFO

-Polaris Software Lab Ltd rolled out an integrated branch renewal platform, based on Services Oriented Architecture (SOA) technology for US markets. Intellect Front Office was unveiled in Las Vegas at the BAI Retail Delivery Conference & Expo.

2007

- Polaris Launches its Super Specialty center for Risk & Treasury Solution.

- Polaris Software Lab Ltd has announced that the Company has launched a Nearshore Application Development Centre and a Global Performance Engineering & Certification Lab in Mississauga, Ontario.

- Polaris Software Lab Ltd has informed that the Company and Ementor Denmark A/S have entered into a partnership agreement to offer joint-value propositions and deliver globally recognized IT solutions tailor-made to the Nordic market needs.


2008

-Polaris Software Lab has appointed Mr. R. Srikanth as the Compliance Officer of the Company by the Board of Directors at the meeting held on January 23, 2008 with effect from January 01, 2008.

-Polaris Software Lab Ltd has appointed Mr. Arup Gupta, as an Executive Director, effective July 17, 2008 subject to the regulatory proceedings.

2010

- Polaris Software Lab, a financial technology company, has acquired IndigoTX, a SaaS (software as a service) company that provides GO TX, an enterprise brokerage solution for the securities market on a pay per use model.Polaris.

- Polaris Software Lab, in order to implement Core Banking Solutions in all its 22 District Central Cooperative Banks spread across the state, Laser Soft, its group firm, has received a project from Andhra Pradesh State Cooperative Bank (APCOB).


2011

- Polaris FT ranked again in 2011 FinTech 100.

- Polaris buys 85% stake in IdenTrust for $20 Million.

- A series of deals from Bangladesh, Lanka & RBI to keep co on growth path.

-Company has changed its name from Polaris Software Lab Ltd. to Polaris Financial Technology Ltd.

2012

- National Bank for Agriculture and Rural Development (NABARD) has selected Polaris Financial Technology Ltd as its new centralized loan management and accounting system (CLMAS).

- 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".

- Polaris Financial Technology Ltd., a leading global Financial Technology company, has bagged the HP AllianceONE Partner of the Year Award in the Converged Infrastructure Solutions category.

2013
- Polaris Wins Three Major Asian Banker Technology Implementation Awards 2013
- Polaris Launches FT 8012 - the Worlds First Design Center for Financial Technology
- Polaris launches advanced Payments Hub at Sibos 2013 in Dubai"
- Polaris receives prestigious awards at 8th Annual CIO 100 Awards

2014
- Polaris bags Best Implementation of Green IT Award at National IT Leadership and Excellence Award ceremony
- Polaris Wins the Data Security Council of India Excellence Award.
- Polaris launches NACH-ready Payments Services Hub for India
- Polaris Financial Technology Ltd. shall be changed to Polaris Consulting & Services Ltd.

2015
-Business Schools Push Careers In Fast-Growing Digital Economy
-Oxford has launched an executive education program aimed to help bankers understand the demands of digital business
-IT firms train employees in design thinking

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