The Centre of Excellence would support Algorithmics' Global Services and Support team to enhance local project delivery capacity, a company press release here said.
The initial focus would be on implementation of algorithmics' credit risk and market risk solutions, which are the high growth areas in the market, it said.
"The setting up of a dedicated COE signifies our joint commitment in developing a strategic relationship. Considering Polaris' strong focus on the Banking and Financial Services sector, the new COE, through this partnership will help further strengthen our Risk Management practice" Polaris (Europe) Head and Executive Vice President Bikash Mathur said.
Polaris would set-up its Algorithmics' COE in its Mumbai office and the associates would be trained on the latest software releases provided by Algorithmics, the release added.