Arun Jain's Intellect Design Arena eyes expansion in Russia, CIS nations

PUNE: After selling his stake in Polaris Consulting to Virtusa last year, Arun Jain is focusing on attaining leadership in the products business through Intellect Design Arena. The company currently has a suite of 28 products aimed at the banking and financial services segment (BFSI), the largest in the world, he said.

Jain, managing director of Intellect Design Arena, which was demerged from Polaris in 2014, told ET that going ahead, the focus would be on growing their position in the banking and financial services space across different geographies.

"We will be expanding to Russia and CIS (Commonwealth of Independent States) countries like Ukraine, as well as Nigeria, Turkey, Egypt, Mongolia and Myanmar.All these countries require banking software solutions and we can provide it to them at a better cost than US companies," he said.

At present, emerging markets comprise 52% of the company's bu siness, with the balance coming from developed economies. "Because the product has been accepted in the US and Europe, it gives us good traction in markets like the Middle East and Africa. It also helps us command a better price for it," said Jain.