Arun Jain’s story is not just a narrative of business success; it’s a tale of passion, perseverance, and an unwavering commitment to education and innovation.
Born into a middle-class family in Chennai, Arun’s journey began with a humble yet ambitious dream: to put India on the global software map. Today, he is celebrated not only for building a world-class financial technology firm but also for uplifting millions of underprivileged students through his philanthropic initiatives.
Arun Jain’s fascination with technology started early, inspired by his father, an accounts officer. After completing his electronics engineering from Delhi College of Engineering, he interned at the American computing giant Wang Labs. Immersed in cutting-edge technology, Arun Jain couldn’t help but notice a glaring disparity: while the US boasted over 1,000 software solutions, India had barely crossed the 100-mark. This observation became his mission. With three close friends and a modest capital of ₹20,000, Arun founded International Information Systems in 1983. From the very beginning, he was focused on building software solutions tailored to India’s unique needs.
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As the company grew, Arun realized that a broader vision and a more defined identity were essential. In 1986, he rebranded it as Nucleus Software Workshop Pvt Ltd. However, a major turning point came when one of the co-founders departed. This setback only fueled Arun Jain’s determination. Seeing a burgeoning opportunity in the banking and financial services sector, Arun Jain pivoted the company’s focus. With just ₹10,000 and an unshakeable belief in the future of banking technology, Arun founded Polaris Software Lab in Chennai in 1993.
Polaris quickly became synonymous with innovative banking solutions. Its first big break came with Saudi American Bank, followed by another milestone client, Citibank. Winning Citibank’s business was a defining moment, as Polaris outshone heavyweights like TCS, Infosys, and Mastek. From credit card processing to core banking solutions, Polaris carved a niche for itself, growing revenues to ₹264 crore and establishing a presence in major financial hubs across the globe. By 1999, Polaris was listed on the stock exchange, cementing its status as a market leader.
The early 2000s marked a period of rapid expansion. In 2002, Polaris acquired Citibank’s Indian software business, Orbitech, making it one of the largest transactions in India that year. This move propelled Polaris into the ranks of the world’s fastest-growing companies. By 2014, it had achieved revenues of ₹2,424 crore. Arun Jain, always forward-thinking, decided it was time to separate Polaris’s product and service businesses. This strategic move gave rise to Intellect Design Arena in 2014, a company dedicated solely to product innovation.
Intellect Design Arena quickly established itself as a leader in cloud-native banking technology. Within its first year, the company achieved ₹453 crore in revenue. By 2018, Intellect was serving 240 customers in 91 countries, growing at an impressive annual rate of 36.4%. Today, it is a powerhouse with revenues surpassing ₹2,500 crore, profits of ₹548 crore, and a market valuation exceeding ₹13,000 crore. With cutting-edge solutions for some of the world’s most prestigious banks, Intellect embodies Arun’s vision of transforming global financial services through technology.
Yet, Arun Jain’s impact extends far beyond the boardroom. His greatest legacy lies in his philanthropic endeavors. In 1997, Arun Jain founded Ullas Trust with a mission to empower economically weaker students. Over the past 26 years, Ullas Trust has reached more than 20 lakh students across 1,500 schools in 114 districts. The trust provides financial support, mentorship, and skill development programs, enabling young minds to dream big and achieve their potential.
Arun Jain’s journey—from a young engineer dreaming of an Indian software revolution to the creator of a global banking technology leader—is a testament to his relentless drive, innovative spirit, and unwavering dedication to giving back. His work has not only redefined banking technology but has also transformed countless lives, making him a true visionary whose impact will resonate for generations to come.
