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Press Release

January 30, 2018

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 Matrix 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: https://www.virtusa.com/industry/bfs/

 

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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