Polaris Launches Research, Innovation & Development Centre in Belfast

Chennai; India, London and New York - 18 February 2013

Dedicated Financial Technology Centre for European Financial Institutions

Polaris Financial Technology Ltd (POLS.BO), a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, today announced the launch of its Research, Innovation and Development Centre (RIDC) in its Belfast Centre, UK. This launch enables Polaris to strengthen its leadership position by establishing a dedicated near-shore RIDC, in order to support transformational outsourcing programs for its strategic customers in Europe.

With the active involvement of the UK Trade & Investment (UKTI), the current Centre in Belfast is being enhanced to bring RIDC competencies to drive business outcomes to Polaris' customers in Europe along with the near-shore advantage.

The RIDC will leverage the Intellectual Property expertise from Polaris' FT Research to drive holistic business outcomes in seven dimensions, namely:

1. Customer Experience

2. Operations

3. Performance

4. Analytics

5. Risk & Compliance

6. Integration and

7. Security.

The RIDC will also offer expertise on the cloud, in the form of consulting & product offerings, through one of its flagship Centres of Excellence, namely the FT Grid.

Commenting on Polaris’ expansion in Belfast, David Cameron, Prime Minister of the United Kingdom said, “It’s great to see Polaris expanding in Northern Ireland with the introduction of new innovative computing services and creating new jobs in Belfast.”

Speaking on the occasion, Bikash Mathur, Head - Europe Business, Polaris Financial Technology Limited, said, “Our Belfast Centre is central to our expansion plans in Europe as it enables us to work closely with our customers to manage their business outcomes. Our choice of Belfast to locate our near shore centre was determined by the cost of operations and availability of skilled talent in the area, very vital to the complex financial services world that we operate in. With active collaboration with the UKTI, the Belfast RIDC would be able to bring in our powerful banking & insurance technology solutions for mission critical engagements and transformational outsourcing programs for the European financial institutions."

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