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Press Release

February 20, 2014

TradeTech Consulting to Support Dutch Development Bank with Technology Expertise

The bank gets access to top industry experts

Stockholm – 20 February 2014 – FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. also known as the Netherlands Development Finance Company), a Dutch development bank, has entered into a partnership with TradeTech Consulting Scandinavia AB - a Virtusa, Swedish subsidiary - to ensure financial technology expertise.

Partnering with TradeTech Consulting will deliver a wide range of advantages to FMO, including access to top industry experts at a reasonable cost, more efficient system upgrades, and reduced operational risk, allowing FMO staff to focus on core business rather than technology.

“We found that outsourcing the maintenance and support of our technology platform is the most cost-effective way to ensure that our technology is always tuned to our needs. Through TradeTech Consulting, we gain access to dedicated resources with updated expertise in a wide range of areas, to the extent that we need it,” said Paul Buijze, Director Risk Management at FMO’s Capital Markets group.

"FMO’s business model is to work with external partners to gain access to highly specialized expertise as needed. We take pride in supporting them with our treasury and financial technology expertise," said Joakim Wiener, CEO of TradeTech Consulting.

FMO is supporting sustainable private sector growth in over eighty different developing countries and emerging markets by investing in ambitious companies. Founded in 1970, FMO is a public-private partnership, with 51% of shares held by the Dutch state, and 49% held by commercial banks, trade unions and other private-sector representatives.

Although FMO is a relatively small bank with a clearly defined and limited business scope, its business is complex. FMO performs the same tasks as global investment banking giants, including risk management, capital planning, treasury back office and capital management. FMO thus needs to maintain the same complex technology capabilities as global investment banking giants – with a fraction of their resources and in-house expertise.

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About TradeTech Consulting - A Virtusa Company
TradeTech Consulting delivers outsourcing and consulting to the financial services sector. Established in 1998, TradeTech tailors offerings specific to corporate treasury, banks, financial institutions, government and central banks. TradeTech was acquired by Virtusa Corporation (NASDAQ GS: VRTU) in January 2014, and is now a wholly owned subsidiary of this global organisation. For more information visit www.tradetechconsulting.com or www.Virtusa.com

 

About Virtusa

Virtusa Corporation is a global provider of digital engineering and technology services and solutions for Forbes Global 2000 companies in the financial services, healthcare, communications, media, entertainment, travel, manufacturing, and technology industries worldwide. At Virtusa, digital engineering is at the heart of everything we do. We are 30,000 builders, makers, and doers that partner with customers to reimagine enterprises and creatively build solutions to the most pressing business challenges that move them to the forefront of their industries.

Virtusa's unique Engineering First approach means never presenting an idea we can't execute. With deep industry expertise and empowered agile teams made up of world-class talent, we think about execution early in the process, because the earlier you think about execution the earlier an idea can have an impact. Solving from the inside out enables businesses to respond swiftly to changing needs with improved quality, lower costs, and lasting results.

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:

Matt Flannery
Edelman
(203) 856-2006
matt.flannery@edelman.com

Media contacts
Joakim Wiener
CEO, TradeTech Consulting
+46 70 871 21 18
joakim.wiener@tradetechconsulting.com

 

Maggie Warbrick
Public Relations and Marketing
+46 70 688 78 87
maggie.warbrick@tradetechconsulting.com

 

 

About Virtusa

Virtusa Corporation is a global provider of digital engineering and technology services and solutions for Forbes Global 2000 companies in the financial services, healthcare, communications, media, entertainment, travel, manufacturing, and technology industries worldwide. At Virtusa, digital engineering is at the heart of everything we do. We are 30,000 builders, makers, and doers that partner with customers to reimagine enterprises and creatively build solutions to the most pressing business challenges that move them to the forefront of their industries.

Virtusa's unique Engineering First approach means never presenting an idea we can't execute. With deep industry expertise and empowered agile teams made up of world-class talent, we think about execution early in the process, because the earlier you think about execution the earlier an idea can have an impact. Solving from the inside out enables businesses to respond swiftly to changing needs with improved quality, lower costs, and lasting results.

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:

Matt Flannery
Edelman
(203) 856-2006
matt.flannery@edelman.com

Media contacts
Joakim Wiener
CEO, TradeTech Consulting
+46 70 871 21 18
joakim.wiener@tradetechconsulting.com

 

Maggie Warbrick
Public Relations and Marketing
+46 70 688 78 87
maggie.warbrick@tradetechconsulting.com

 

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