Polaris boss to lecture in Friday’s CBS talk


16-November-2011

The bank’s 17th in its series of anniversary lectures will start at 5pm at the International Conference Centre and will be attended by invited guests and the general public.

The guest speaker is Arun Jain, chairman, managing director and chief executive of Polaris Software Lab Ltd. Holder of a degree in electrical engineering from the Delhi College of Engineering, Mr Jain founded Polaris in 1993 with a meager sum of 10,000 Indian rupees. Today, at the age of 44, he has a debt-free and cash-rich company, with cash reserves of over US $20 million. Under his leadership, the company has grown to over 5,220 professionals and is a leading provider of comprehensive products and solution offerings for the banking and financial services industry.

Polaris provides IT services and looks at processes and applications together in the same ‘layer’ so that customers get the combined power of products, IT services and BPO. The services offered by Polaris include outsourced application services, custom application development and application portfolio management among other services. Polaris provided the CBS with its CORE (integrated) banking software launched in December 2010.

“The CBS experience in pushing technological innovation with the CORE banking project has been a major success and has significantly eased our operations. This experience should be an example to financial institutions as to how they can improve their own systems to their benefit and that of their clients” said CBS governor Pierre Laporte, when asked about this year’s theme.

Seychelles Bankers Association chairman Michael Benstrong and CBS governor Laporte will also be on the panel.
Mr Benstrong is also the managing director of the Seychelles Savings Bank and has over 15 years experience working in the financial industry in Seychelles. 

It is hoped that the lecture will not only be informative for the guests, the public, and the CBS staff, but will also encourage discussions on future developments and areas to enhance the financial services industry with the use of technology.

This is in line with Mr Jain’s belief – one shared by the CBS – that ordinary people can come together to do extraordinary things and it also reflects the desire of the CBS to encourage financial innovation while maintaining stability.

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