Vendor Analysis
published on Oct 20, 2021
Report Overview:
This NelsonHall vendor assessment analyzes Virtusa's offerings and capabilities in Digital Banking Services.
Who is this Report for:
NelsonHall’s ‘Digital Banking Services: Transforming the Financial Services Industry’ Vendor Assessment for Virtusa is a comprehensive assessment of Virtusa’s banking industry digital services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of digital processes and identifying vendor suitability for digital 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 digital 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 began as an IT services vendor to the banking industry. Initially, Virtusa focused on the customer layer of the IT stack and has since expanded its capabilities to focus on the core banking platform. In 2004 Virtusa delivered its first digital services engagement with a tier-one U.S.-based global bank, which required support establishing an online presence. The relationship has expanded over time to include implementing:
- Dotcom platform
- Mobile banking capabilities
- Digital-only bank (a standalone entity). This initiative supported the bank’s digital channel in ~120 countries.
Virtusa has acquired capabilities in the past decade that have expanded its digital BFS consulting and transaction processing capabilities. Recent acquisitions and capability development have focused on software development skills for cloud, mobility, and data analytics.