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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 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

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