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Everest Group Recognizes Virtusa as a Major Contender in its PEAK MatrixTM for Digital Services in Consumer Banking

WESTBOROUGH, Mass., – (January 30, 2018)–Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients,today announced it has been named a Major Contender in Everest Group's 2018 PEAK MatrixTM for Digital Services in Consumer Banking.

Virtusa was evaluated across two key dimensions: 1) Market success measured by revenue, growth, and enterprise adoption; and 2) Vision and capability measured by the ability to successfully deliver consumer banking services.

“We are excited to be recognized by Everest Group as a Major Contender in the 2018 Digital Services in Consumer Banking PEAK MatrixTM assessment,” said Bob Graham, global solutions head, Banking and Financial Services, Virtusa. “For a consumer bank today, digital services are driving an enhanced and personalized customer experience, driving new product offerings, and providing the ability to reach new customers without requiring investment in new branches. Virtusa has been helping global banks envision and implement digital banking solutions that enable them to re-imagine consumer experiences, increase customer satisfaction, and drive new customer acquisition.”

Out of 22 IT service providers showcased, Virtusa is one of 12 Major Contenders listed on the 2018 PEAK MatrixTM Assessment for Digital Services in Consumer Banking. The company's strengths in the consumer banking segment include its strong retail banking heritage; core platform modernization capabilities, which include lending, trade finance, client onboarding, and API development; and management expertise through partnerships with leading platform providers such as Mulesoft and Apigee, according to the PEAK MatrixTM Assessment.

“As consumers demand superior digital experiences, retails banks are reorienting themselves as a lifestyle partner by collaborating with FinTechs, moving to open architecture, and delivering contextual products and services,” said Ronak Doshi, practice director, Everest Group. “Strong credentials in mobile banking, core platform modernization capabilities, offerings in API implementation, and investments in agile, DevOps, and cloud capabilities have helped Virtusa secure its position as a Major Contender in Everest Group's inaugural assessment on Digital Services in Consumer Banking with PEAK Matrixâ„¢ Assessment 2018.”

For more than 25 years, Virtusa has been helping its banking and financial services clients gain a competitive advantage and a strong foothold in their markets by enabling them to innovate, drive efficiencies, improve performance, and transform their businesses through digital transformation. Virtusa is currently spearheading the digital transformation for a large U.S.-based multi-national bank across its multiple business lines.

Virtusa provides consulting and digital banking accelerators that help its clients across a range of solutions, which include mobile banking, digital marketing, mobile wallet, API Banking, digital bill payments, online account opening, chatbots, and P2P payments. These solutions are designed to improve businesses' innovation to remain competitive in the marketplace while also reducing time to market and costs.

To access the full report, please visit: https://www2.everestgrp.com/reportaction/EGR-2017-11-GP-2464/Marketing

For more information on Virtusa's consumer banking and financial service offerings, please visit: http://www.virtusa.com/industries/banking-and-financial-services/industry-solutions/digital-banking/

About Virtusa

Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of information technology (IT) consulting and outsourcing services that accelerate business outcomes for Global 2000 companies and leading software vendors in banking and financial services, insurance, healthcare, telecommunications, technology, and media & entertainment.

Virtusa helps CXOs' address the dual challenge of growing revenues while improving IT cost efficiencies. Virtusa's digital transformation & innovation (DTi) solutions enable clients to reimagine the customer experience, accelerate revenue growth and create lasting business value. The company's operational excellence (OE) solutions help clients reduce risk, improve operational efficiencies, and lower IT costs.

Virtusa delivers services across the IT lifecycle, including consulting, solution design, technology selection, implementation, testing, and maintenance, including infrastructure support. With a strong heritage in software engineering, Virtusa is highly qualified to both develop and maintain software, using a proven platforming methodology and advanced Agile and Accelerated Solution Design techniques to reliably deliver results on time and within budget.

Holding a proven record of success across industries, Virtusa readily understands its clients' business challenges and uses its domain expertise to deliver distinctive, differentiated and innovative applications of technology to address its client critical business challenges. Examples include building the world's largest P&C claims modernization program; one of the largest corporate customer portals for a premier global bank; an order to cash implementation for a multinational telecommunications provider; and digital transformation initiatives for media and banking companies.

Through the acquisition of a majority interest in Polaris Consulting Services Ltd. in March 2016, Virtusa has created a robust platform to provide end-to-end solutions and services in banking and financial services, strengthening its positioning as a top, global FinTech services provider. Virtusa Corporation is headquartered in Massachusetts and has 50 offices across North America, Europe and Asia.

Polaris Consulting & Services is a subsidiary of Virtusa Corporation. Copyright © 2018Virtusa Corporation.All Rights Reserved.

Contact:Kirsten Paragona

Organization:Global Head of Media Relations

Email:kparagona@virtusa.com

Phone:978-434-7319

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