Post on Medial

Meet the man from Chennai who supports the education of 200,000 poor students. 1. Born in a middle-class family to an accounts officer, Arun Jain always had an eye for technology. After completing his electronics engineering from Delhi College of Engineering, he interned in software programming at the American computers major - Wang Labs. He was seeing the best in tech but thinking something. 🤔 2. The US had 1000+ softwares, but India was barely touching 100. He wanted to start his firm building software for India. With three friends and a capital of just Rs 20,000, Arun started International Information Systems in 1983. ✅ 3. His idea was simple ⏩ An IT consulting firm focused on providing software solutions to businesses. Starting with a partnership firm, Arun realised the need to create a software hub and change the name. In 1986, he renamed it Nucleus Software Workshop Pvt Ltd, but something happened. 👇 4. One of Nucleus's co-founders left, and Arun needed a new direction. He saw the need for specialised software solutions in the banking and financial services industry. He wanted to pivot again with just Rs 10,000. On 24th July 1993, Polaris Software Lab started in Chennai with a 120 people office in Anna Salai, Chennai. 🙌 5. As Polaris supported with core banking solutions, transaction processing, and risk management, The first client became US's Data General for file systems, and the second was Saudi American Bank for their client-server banking application. And finally, the big client came. 💪 6. Arun had won Citibank as their customer for consumer banking in credit cards, beating players like TCS, Infosys and Mastek. Polaris scaled to a revenue of 264 CR with eight offices in the USA, Japan, Germany, and Singapore. It was listed on the markets in 1999 and became worth 900 CR. 💰 7. Polaris had grown 105% in just seven years and became the "Top 200 Fastest growing companies in the world". On 22nd May 2002, it acquired Citibank's Indian software business - Orbitech, making the largest transaction in India that year. It was worth 2700 CR. 📉 8. By 2014, Polaris had touched revenues of 2424 CR, but Arun wanted to differentiate between product and service business. He demerged the service business to focus 100% on the product business with a different name. In 2014, Intellect Designs Arena was born. 🚀 9. With cloud-native products for complex banking, Intellect clocked revenue of 453.1 CR in just the first year. By 2018, it served 240 customers across 91 countries. Growing 36.4% yearly, it zoomed to a revenue of 1458.7 CR. 💸 10. Today, Intellect Designs Arena clocks revenue of 2506.4 CR at a profit of 548.5 CR. It works with 60% of the World's top banks and is worth 13,619 CR. 💪 ➡️But the best part is that Arun's Ullas Trust has helped over 20 Lakh economically weaker students from 1500 schools across 114 districts in the last 26 years. 🙏