Polaris Software Lab, a leading financial technology company, on Friday announced the launch of first phase of The School of Financial Technology, with the acquisition of a 50-acre facility owned by Catalytic Software Ltd., (CSL) Hyderabad, principal shareholder of CSL being Catalytic Software, headquartered in Seattle, U.S.

Polaris acquired the company and its assets at a 100 per cent cash buyout, and the new facility will be utilised as a residential Talent Development centre and for expansion of ODCs (offshore development centre). The School of Financial Technology aims at generating over 1,000 highly skilled ‘techno-bankers' a year for Polaris' growing needs to service its top global 50 accounts. The school will operate out of an iconic campus with dome-shaped buildings; a world class infrastructure to increase efficiency and responsiveness contributing to a truly inspired learning environment.

Speaking on the occasion Arun Jain, Chairman and CEO, Polaris Software, said, “The gap between demand and supply for skilled manpower has always been a concern for the entire IT industry and this gap increases further when it comes to specialised domains like financial technology. To bridge this gap and to enhance the level of our global delivery and efficiency, we made this strategic investment. We are excited on the prospects of the new centre in Hyderabad and bullish about its output in terms of skilled manpower.”

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