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Press Release

November 9, 2011

Virtusa Named to 2011 FinTech 100 List, Recognized as a Top Global Technology Provider in Financial Services Industry

Company Honored by American Banker, Bank Technology News, and IDC Financial Insights

WESTBOROUGH, Mass - November 9, 2011 - Virtusa Corporation (NASDAQ: VRTU), a global IT services company that offers a broad range of information technology services, including IT consulting, technology implementation, and application outsourcing services, today announced it has been recognized by American Banker, Bank Technology News, and IDC Financial Insights on the 2011 FinTech 100 List. The list, currently in its 8th year, ranks the most successful financial services technology vendors around the world based on their calendar year 2010 revenue from financial services. This marks the fourth time in five years that Virtusa has been named in the ranking.

“We are honored and privileged to be recognized yet again on the prestigious FinTech 100 List,” said Kris Canekeratne, chairman and CEO of Virtusa. “During these difficult economic times, we have had the opportunity to work with several financial services clients and help them reduce their overall costs, introduce new products and services to market faster and improve their consumer experience. This recognition is testament to the hard work and dedication of our team members who work relentlessly to innovate and drive business transformation for our clients."

Virtusa uses its unique Platforming methodology and global delivery model to help global financial institutions overcome challenges that include compliance and regulatory requirements, emerging technology needs, security initiatives, superior customer service, and price pressures. The company partners with some of the world’s largest banking and financial services companies, including retail, wholesale and investment banks, lending firms, card services, securities traders, and brokerage firms. These institutions look to Virtusa to optimize their software applications and platforms, enhance operational efficiencies, minimize risks, sustain cost leadership, and at the same time, support their business transformation initiatives.

Earlier this year, Virtusa acquired ALaS Consulting, a leading provider of consulting and advisory services to financial services companies. The acquisition strategically expanded Virtusa’s leading position within the banking and financial services industries (BFS) by adding capital markets and investment banking domain expertise, consulting and program management skills. The ALaS acquisition provided Virtusa with an expanded client based including leading global financial institutions as well as 150 financial experts, including former senior Wall Street professionals with significant industry experience. Virtusa is now providing this combined client base an enhanced, integrated offering, including deep domain knowledge, consulting-led solutions, technology implementation and industry leading global delivery execution.

For more information on Virtusa's solutions for banking and financial services organizations, please visit https://www.virtusa.com/industries/banking-financial-services/.

Revenues for this year's top 100 financial technology firms grew to a collective $58.1 billion, an almost 10 percent increase from 2009 to 2010 and an encouraging number for the industry as a whole. The 2011 honorees were formally recognized at an awards ceremony and breakfast briefing at the BAI Retail Delivery 2011 conference on October 11, 2011 in Chicago. The full list of 2011 FinTech 100 honorees can be accessed on American Banker’s website at http://www.americanbanker.com/btn/24_10/fintech-ranking-top-one-hundred-1043035-1.html

 

About Virtusa

Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.

Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption.

Virtusa is a registered trademark of Virtusa Corporation.  All other company and brand names may be trademarks or service marks of their respective holders.

 

Media Contact:

Alex Nickols
Edelman
+1 (415) 430-8056
Alex.Nickols@edelman.com

Contacts
Andrea LePain 
Global Head of Media Relations Communications 
617-275-6516
alepain@greenoughcom.com

 

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