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Press Release

November 16, 2016

VirtusaPolaris Announces Launch of its OpenBank API Accelerator to Advance Financial Technology Innovation

WESTBOROUGH, Mass., – (November 16, 2016)VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., a leading worldwide provider of information technology (IT) consulting and outsourcing services, today announced the launch of the VirtusaPolaris OpenBank API Accelerator at the inaugural Singapore FinTech Festival. Addressing the market need for rapidly developing solutions for API banking, the OpenBank API Accelerator provides financial services and banking organizations with the tools they need to create new product propositions, add digital-native capabilities, and build new business models, as well as partner with FinTech firms more efficiently and effectively.

“API banking is poised to change the face of financial services as a shift to open platforms can create new, dynamic, value-driven ecosystems across areas such as payments, lending, personal financial management, trade finance and supply chain,” said Bob Graham, global solutions head, Banking and Financial Services at VirtusaPolaris. “Recognizing the need for banks to create capabilities to participate in this wider ecosystem of FinTech APIs and partners, we developed the OpenBank API Accelerator to enable our clients to introduce new features quicker and deliver compelling services ahead of customer demands.”

VirtusaPolaris OpenBank API Accelerator features three main components - FinTech Connect, a curated list of APIs from 50+ innovative FinTechs; Core Connect, adaptors to connect APIs to core banking systems, blockchain rails, BFS specific messaging systems; and BIAN Compliant MicroServices Blueprint for lending, payments and wealth management with more to be added.

“We believe that a carefully crafted API strategy is the key to accelerate business innovation,” said Senthil Ravindran, global head of FinTech Lab, Banking and Financial Services at VirtusaPolaris. “Our OpenBank API Accelerator provides banks with an ability to securely and rapidly enhance their digital offerings using an ecosystem of 3rd party applications, connectors and services that we have createdto kick-start their API journey and ultimately build next generation digital products and services.”

For more information on VirtusaPolaris’ API banking offerings, please visit https://www.virtusa.com/industries/banking-and-financial-services/industry-solutions/api-banking/

 

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:

Matt Berry
Conversion Marketing
(201) 370-9133
matt@conversionam.com

Contact:
Ron Favali
Conversion Marketing
ron@conversionam.com
727-512-4490



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