Virtusa's Digital Product Workbench (DPW)

Your surfboard to win the digital wave

The banking and finance industry continues to use traditional methods despite innovations in the sector. As a result, building digital solutions for their customers costs them agility and a slower time to market. One of the solutions banks perceive to tackle this time-to-revenue problem is forging new relationship models driven through the ecosystem by collaborating with external FinTechs. While many banks successfully develop minimum viable products (MVPs) with FinTechs in their labs, they face challenges moving them to real production environments. Failing to reap the benefit of investing in high-tech innovation, leaders in the banking sector often question their digital agenda. Thus, the banks' ability to unlock real business value through innovation seldom results in a great return on investment.  

The shift to the digital economy necessitates banks to look at a digital-born approach toward product development to augment their revenue streams despite their apprehensions about investing in high-tech innovation.

The Digital Product Workbench (DPW) from Virtusa is an industry-recognized platform enabling banks to adopt an innovative and digital-born approach into their product development life cycle. We help banks reap tangible outcomes in revenue upliftment, cost reduction, and enhanced customer experience.

Virtusa's approach enables banks to accelerate the development of their digital products and services by defining the right customer journeys, allowing them to become their customers' preferred and trusted partners. Our platform empowers banks to embark on an end-to-end journey of creating customer-centric offerings by helping them develop a suitable operating model by aligning with the right tech capability.

Virtus's DPW features and benefits

Modernize your business with the Digital Product Workbench

DPW enables banks to develop in-context solutions rapidly and collaboratively for customer life moments, thereby improving customer engagement with personalized offerings. Thus, banks can build a revenue-generating ecosystem by collaborating with non-banking partners like e-commerce, taxi aggregators, insurance providers, and other financial services providers. 

Banks can successfully harness a collaborative and inclusive culture and explore emerging technology to its full potential: from start-up to scale-up, by bringing together the right tools, processes, and frameworks.

Key features

  • Customer-first ideation allows banks to keep the customer at the center of any initiative to develop the "right" user journeys. The platform provides an integrated view of the product backlog to the product owners through integration with Jira, Confluence, or similar tools. The platform can also be integrated with service design tools such as Figma, Miro, Mural, and others to enable a design thinking-led approach for ideation. 
  • An API Hub that provides self-service tools for hassle-free onboarding, discovery, and try-outs of APIs. The API hub enables banks to onboard their APIs while providing an ability for third parties, including customers, tech providers, and other required partners, to easily onboard and maintain various versions of their APIs.
  • Digital Twin Environment that provides out-of-the-box synthetic data exposed as banking functional APIs to enable testing for scale and relevance. The Digital Twin is customizable and can replicate the bank's production data schema with minimal effort and is populated with synthetic data generated based on production metadata. This helps build confidence that any solution developed over the DPW will work equally fine in the real production environment. 
  • A collaborative environment with pre-built digital journeys for banks to onboard partners and other third parties makes it easy for them to work with the bank. The platform allows multi-organizational teams to work together as a single project team with access to a common set of resources, including UI/UX designs, discussion forums, and a development environment.
  • An enhanced developer experience and a well-defined path to production through an on-demand, in-browser, cloud IDE integrates with our microservices code generator and supports configuration to ensure that the code is developed as per the organization's coding standards. The IDE is integrated with code repositories and DevOps pipelines to ensure a smooth and seamless production deployment post-development.
Digital Workbench - Key Features

Key benefits

Our platform combines pre-integrated components that enable banks to drive tech validation and rapidly develop digital products and services. Some key benefits delivered by DPW are:

  • Build and deliver digital experiences with faster validation (from years or months to weeks)
  • Improved visibility to product owners across the product development lifecycle
  • Cost savings and improved ROI in digital product development
  • 80% improved time taken to develop MVPs in collaboration with third parties


Success story

Virtus's DPW enables financial inclusion with 60+ financial institutions and 350+ FinTechs worldwide

With DPW, Virtusa enabled a cross-border, open-architecture platform driving financial inclusion through a networked API banking technology marketplace, launching APIX Global Marketplace. The client successfully built an ecosystem of more than 60 financial institutions and over 350 FinTechs across the globe. With DPW, the client could quickly discover, conceptualize, and deploy industry solutions within their infrastructure or on the cloud for operational efficiency, revenue opportunities, and better risk and compliance.

Success story

Virtus's DPW enabled UAE's top-tier banks to build 25+ PoCs in partnership with 50+ Fintechs globally

Virtusa's DPW enabled top-tier Middle Eastern banks to lead digital open banking transformation initiatives in the region by building one of the first open banking transformation ecosystems allowing the client to quickly evaluate and certify FinTechs and co-create solutions in collaboration with these partners. With 100+ platform users, the client built over 25 PoCs in partnership with over 50 Fintechs globally, with five solutions currently in production.

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