The company, which has been in existence for over 20 years, works with some of the largest banks, insurers and other players in the financial sector globally.
"The name change to Polaris Consulting and Services Limited is a reflection of the company's growing reputation as a high-end, business outcome driven consulting and solutioning company," it said in a statement.
The company's services include process consulting, solution design, system integration, ADM, production support, testing, infrastructure management and BPO.
It has already carved out its products business into an independent company, Intellect Design Arena Ltd, which is being listed separately.