WESTBOROUGH, Mass., – (January 9, 2015) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced it has recently been named an Emerging Player in large capital markets application outsourcing relationships by Everest Group, an advisory and research firm on global services. This is the first year Virtusa has been positioned by Everest Group in this category. In July 2014, Virtusa was named a “Major Contender” in Everest Group’s PEAK Matrix™ for IT Outsourcing in Banking and Financial Services.
Everest Group evaluated 23 global large capital market service providers in the recently released report IT Outsourcing in Capital Markets – Service Provider Landscape with PEAK Matrix™ Assessment 2014
The in-depth report, issued annually, measures service providers on its proprietary Performance, Experience, Ability and Knowledge (PEAK) Matrix. According to the report Everest Group highlighted Emerging Players, combining strong near shore advantage capabilities, management attention and business knowledge with the ability to demonstrate flexibility in engagements.
“Our inclusion in this year’s PEAK Matrix is a validation that our approach is driving results in the market,” said Vasan Srinivasan, senior vice president, Banking and Financial Services, North America at Virtusa. “Globally, Capital Markets organizations are searching for viable outsourcing solutions to deal effectively with the increased costs of regulations and while continuing to deploy new technologies to maintain their competitive advantage. Virtusa’s Application Management solutions are based on a combination of in-depth industry knowledge and innovative technology tools centered on helping client organizations deal with this dual challenge.”
Over the last four years, Virtusa has established itself as business and technical experts in equities/fixed income trade processing, asset management trade-life cycle platforms management, treasury operations and regulatory compliance. The company boasts strong competencies in niche areas and serves clients across a variety of key financial centers, including the Scandinavian region. Clients rely on Virtusa’s business/domain focused approach and the company’s unique digital enabled millennial strategy to generate sharper outsourcing options resulting in a more strategic, efficient and reliable business model.
“During the past two years, Virtusa has made investments in strengthening domain capabilities for financial transformation capabilities and treasury and asset management, and position itself as an emerging player in the capital markets application outsourcing industry,” said Jimit Arora, vice president, Everest Group. “These investments are expected to help Virtusa increase its market success in 2015 and beyond.”