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Virtusa – Digital Bank Transformation

Vendor Analysis

by Andy Efstathiou

published on Nov 22, 2019

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Report Overview:

This NelsonHall assessment analyzes Virtusa's offerings and capabilities in Digital Bank Transformation. 

Who is this Report for:

NelsonHall’s Digital Banking Services Vendor Assessment for Virtusa is a comprehensive assessment of Virtusa’s Digital Banking Services offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking 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 Banking 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 has been providing IT services to the banking industry since its inception twenty years ago. Initially, Virtusa focused on the customer layer of the IT stack, not on the core banking platform itself. Virtusa launched its digital services in 2004 with a tier-one global bank headquartered in the U.S., which required support establishing an online presence. Over the years Virtusa subsequently delivered to this client:

  • Dotcom platform
  • Mobile banking capabilities
  • Digital-only bank (a standalone entity). This initiative supported the bank’s digital channel in ~120 countries.

Virtusa has consistently added capabilities to support its growth, including:

  • ConVista (2010) focused on high volume collections/disbursements for BFSI
  • ALaS Consulting (2011) financial consulting services
  • Trade Tech Consulting (2014) consulting for treasury and asset management activities for Scandinavian financial institutions
  • Polaris Consulting (2016) which was focused on delivering services to the banking industry
  • eTouch Systems (2018): expanded Virtusa’s digital engineering and digital service offerings

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