Virtusa Named a Major Contender in Everest Group’s PEAK Matrix for IT Outsourcing in Banking


WESTBOROUGH, Mass., – (July 30, 2015) – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced that it has been named a “Major Contender” on Everest Group’s PEAK Matrix™ in the report IT Outsourcing in Banking – Service Provider Landscape with PEAK Matrix™ Assessment 2015: Rise of the Challengers. Virtusa was recognized, for the third consecutive year, as a key global player leveraging unique technology solutions to drive innovation in the industry. Additionally, Virtusa was recognized as a “Star Performer” based on its relative year-on-year movement on the PEAK Matrix for the second year in a row.

“We are honored to be named a Major Contender and Star Performer on the Everest Group PEAK Matrix for Banking AO,” said Sameet Gupte, global head of Banking and Financial services at Virtusa. “We’re proud to serve a robust roster of clients, including some of the world’s largest banking and financial institutions and large regional players. What this report clearly highlights is the depth of business and domain expertise that Virtusa has against some of the more established Tier 1 Global players along with our delivery excellence. As service delivery models continue to change and adapt to the new business standards and requirements of a hyper-connected global market place, organizations are drawn to Virtusa because of this very ability of ours to ‘re-imagine’ their business and leverage our roots of engineering and innovation. As the landscape continues to evolve, we’re excited to play a key role in driving the industry forward.”

Virtusa has a unique execution capability model that stands out in a very crowded supplier market segment. Using its global delivery model and platforming approach, Virtusa delivers accelerated business solutions to its clients, enabling them to rapidly evolve their products and services and improve customer experience. The company was recognized for its focus on millennial enablement and leveraging mobile and social technologies to enable its clients and deliver distinctive millennial experiences to their customers.

“Banks globally are focusing on a triple mandate of run, manage, and change. In the current environment, customer intimacy, domain expertise, and flexible engagement models are driving success for service providers,” said Jimit Arora, vice president, Everest Group. “Success with global banks, high customer satisfaction, and a focus on delivering mobile and digital experiences for the millennial population resulted in Virtusa’s assessment as a Star Performer and Major Contender on the Everest Group 2015 Banking AO PEAK Matrix.”

Developed by Everest Group, a global consulting and research firm, the PEAK (Performance, Experience, Ability, Knowledge) Matrix is a framework that assesses the relative market success and overall capability of service providers in various industries. This particular PEAK Matrix positions the world’s banking AO market leaders based on performance, experience, ability and knowledge. Service providers undergo a rigorous assessment and are positioned on the PEAK Matrix based on evaluation across two key dimensions, including market success – measured by the number, scale and growth of large banking AO contracts, and delivery capability – measured by scale of operations, scope, enabling domain investments, delivery footprint and buyer satisfaction. The results were published in Everest Group’s report IT Outsourcing in Banking – Service Provider Landscape with PEAK Matrix™ Assessment 2015.

Virtusa’s Banking and Financial Services Group provides end-to-end consulting, and technology and transformation services to the financial services industry worldwide including banks, broker dealers, fund administrators, investment banks, investment managers, credit card, payment providers and select industry service providers. Virtusa’s banking and financial services customers include 9 of the top global banks, some of the top brokerage firms and several of the largest card and payment providers. For more information on Virtusa's solutions for banking and financial services organizations, please visit http:// www.virtusa.com/industries/banking-and-financial-services/perspective/

About Virtusa
Virtusa provides end-to-end information technology (IT) services to Global 2000 companies. These services, which include IT consulting, application maintenance, development, systems integration and managed services, leverage a unique Platforming methodology that transforms clients’ businesses through IT rationalization. Virtusa helps customers accelerate business outcomes by consolidating, rationalizing, and modernizing their core customer-facing processes into one or more core systems.

Virtusa delivers cost-effective solutions through a global delivery model, applying advanced methods such as Agile and Accelerated Solution Design to ensure that its solutions meet the clients’ requirements. As a result, its clients simultaneously reduce their IT operations cost while increasing their ability to meet changing business needs.

Founded in 1996 and headquartered in Massachusetts, Virtusa has operations in North America, Europe, and Asia.

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