Vendor Analysis
published on Jul 20, 2021
Report Overview:
This NelsonHall vendor assessment analyzes Virtusa's offerings and capabilities in Transforming Wealth & Asset Management Services.
Who is this Report for:
NelsonHall’s Transforming Wealth & Asset Management Services Vendor Assessment for Virtusa is a comprehensive assessment of Virtusa’s wealth and asset management services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of intelligent automation processes and identifying vendor suitability for wealth and asset management services RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of wealth and asset management services offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
Virtusa was founded in 1996 and has been working with the financial services industry since its inception. Virtusa began working with W&A managers to deliver application development and implementation of wealth management platforms for global banks. In 2016, Virtusa acquired Polaris Consulting, which delivered IT services to the BFS industry. The acquisition of Polaris allowed Virtusa to expand the range of financial industry subsegments it targeted. Polaris had expertise in corporate and investment banking, while Virtusa had greater retail and consumer banking expertise.
In the past year, the COVID pandemic has accelerated the growth of its W&A practice due to clients wanting to accelerate their migration to cloud delivery of their operating platforms. Over the past two years, Virtusa has increasingly focused its growth efforts on tier two W&A managers based outside North America.
In February 2021, Virtusa received an investment from Baring Private Equity and became a private firm. This will allow Virtusa to focus on growing its business, including W&A services. A focus of the growth will be on fast-growing markets, including APAC, where Barigns has a large presence.