Financial organizations hold a wealth of data. Criminals, including terrorist organizations, depend on these financial networks to operate and move money around the world. They also demonstrate patterns that can predict when nefarious activity is expected.
Read on to explore how financial institutions can identify these patterns and alert law enforcement organizations by levering the right big data and artificial intelligence tools.
SOUTHBOROUGH, Mass. – (September 21, 2020) – Virtusa Corporation (NASDAQ GS: VRTU), a global provider of digital strategy, digital engineering, IT services and solutions that help clients change and disrupt markets through innovation engineering, today announced that its CDR (Consumer Data Right) Solution has been selected by IMB Bank to assure the bank is compliant with the Australia Competition and Consumer Commission (ACCC) CDR regulations for open banking.
To support compliance by IMB Bank, Virtusa’s CDR solution leverages elements of its Open Innovation Platform (OIP) as well as components of WSO2 API Management and Identity & Access Management.
Through the CDR, the Australian Government has mandated that consumers have greater access to and control over their data. It will improve consumers’ ability to compare and switch between products and services and will encourage competition between service providers, leading not only to better prices for customers, but also more innovative products and services.
SOUTHBOROUGH, Mass. – (July 22, 2020) – Virtusa Corporation (NASDAQ GS: VRTU), a global provider of digital strategy, digital engineering, and IT services and solutions that help clients change and disrupt markets through innovation engineering, today announced new enterprise cost optimization services that balance the need to reduce cost and remain competitive.
Adverse global market conditions are impacting all industries forcing companies to focus strategically on cost-cutting, cost optimization, and value growth. Based on thousands of engagements with enterprise customers, Virtusa has developed a proven approach to reducing cost while maintaining innovation across several key industries, including Banking, Financial Services, Insurance, Healthcare, Life Sciences, Communications, Media, Entertainment, Travel, Manufacturing, and Technology.
Virtusas Global Head of Banking Practice Amit Bhute shares his insights with Open Banking Expo about three different approaches to the API economy.
Banking is a prime example of an industry whose traditional operating model is being radically impacted by the Fourth Industrial Revolution. Historically, a bank would have millions of customers who would either visit their nearest branch or, more recently, its website to use one of its products. Now, however, these products are no longer necessarily consumed directly though the bank itself. As a result, the bank as an entity is becoming redundant.
Virtusa named the winner of Gold Stevie® Awards in three categories in The 16th Annual International Business Awards®. The three Virtusa winning nominations include:
- Redefining the Banking and Financial Services Business Models: Virtusa's Open Innovation Platform is a Game Changer in Attacking the Digital Disruption Journey in the Platform as a Service category.
- Virtusa's AIRIS DevOps solution in the DevOps Solution Category.
- Virtusa's vLife™ platform in the Best New Product or Service of the Year - Health & Pharmaceuticals - Product category.
An Interview with Richard Ransom, Head of E-ME Payments Practice at Virtusa
Banks are prioritizing innovation and technology adoption to better compete with fintechs, as highlighted by a Finextra and Virtusa study, which surveyed over 100 banking executives throughout North America, Europe, and the Asia Pacific region. The digital customer experience was chosen as a top priority by 79% of respondents, highlighting how central digital technologies have become to banking operations
Virtusa Chairman and CEO Kris Canekeratne received the Sri Lanka Sikhamani, one of the most prestigious national awards the Sri Lankan government bestows upon individuals making significant contributions to the nation.
The Sri Lanka Institute of Directors (SLID) presented Virtusa Chairman and CEO Kris Canekeratne, with Sri Lanka's Young Director of the Year Award 2005 for "excellence in business strategy making".
Virtusa won a Pega Partner Excellence Award again at the Pegsystems Sales Conference, which took place in Pinehurst, North Carolina.
The Hyderabad Software Exporters Association (HYSEA) presented Virtusa with the HYSEA award for the Best Established Offshore Development Center at a ceremony held in Hyderabad on February 25, 2005. Virtusa won the award for its outstanding growth and contribution to the Hyderabad software arena during 2003-2004. Virtusa shares this award with Keane India Ltd.