Polaris Software Lab: Betting on BFSI

In Fiscal 2004-05 Polaris saw its growth slowing down to 22% as against 50%

the previous year. The company's revenues are under stress and it needed to

garner new mandates for sustaining its position in the BFSI space. The company

successfully re-aligned its OrbiOne banking solutions around Intellect Suite.

The biggest challenge Polaris confronted over the year was positioning its

products against competition. The third quarter of FY 2005 was significant for

Polaris, when it bagged an order from the National Bank of Abu Dhabi. The

company has also upped its North American operations by opening an office in

Ottawa. On the product development side, it added biometrics authentication

functionality to its banking software and integrated it with its identity and

access management called Intellect Armor. Subsidiary Optimums, launched a

business infrastructure solution for the credit card industry.