Press Releases

Published: July 12, 2021

Virtusa and Major US University’s Collaboration Develops AI Technologies that Address Fraud, Money Laundering and more across Banking and Financial Service Industries

SOUTHBOROUGH, Mass., (July 12, 2021) - Virtusa Corporation, a global provider of digital strategy, digital engineering, and IT services and solutions that help clients change and disrupt markets through innovation engineering, today announced its continued collaboration with Stanford Artificial Intelligence Laboratory (SAIL) as an Affiliate Member to develop additional Artificial Intelligence (AI) technologies. This current collaboration focuses on creating an engine of autonomous fraud detection and enhanced index search technology through natural language processing (NLP) across the Banking and Financial Services industries. SAIL has been a center of excellence for AI research, teaching, theory, and practice since its founding in 1962.  

“We are very pleased to continue to collaborate with Stanford researchers in this work,” said Samir Dhir, President, Virtusa Corporation. “At Virtusa, we realize the importance of teamwork in advancing AI technologies to create better solutions, profitable products and improved sustainability across all industries. This time around we are working with two additional labs to improve fraud detection and enhance cognitive search through NLP by leveraging our rich domain expertise.”

Virtusa works with Stanford to fund research on how artificial intelligence algorithms and systems can advance solutions that rely on Big Data. Virtusa's current collaboration with SAIL focuses on using AI to build advanced algorithms in fraud detection and intelligent enterprise search. Fraud detection, in both payments and transactions, is a major challenge for organizations worldwide. Virtusa uses AI to automate the fraud detection and prevention processes, reduce operational cost, regulatory compliance complexity and processing time significantly. Additionally, Virtusa develops algorithms to increase the efficiency of Intelligent Enterprise search and makes relevant content available to everyone within an organization.

Virtusa is exploring possibilities to apply the latest advancements in AI research on a diverse set of use cases across multiple industries with specific focus on Banking and Financial services


About Virtusa

Virtusa Corporation is a global provider of digital engineering and technology services and solutions for 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 35,000 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:

Alex Nickols
+1 (415) 430-8056

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