WESTBOROUGH, Mass.--(BUSINESS WIRE)--VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology (IT) consulting and outsourcing services, today announced that NelsonHall’s Vendor Evaluation and Assessment (NEAT) report on Robotic Process Automation and Artificial Intelligence in Banking positions VirtusaPolaris as a leader in the overall market segment. The report analyzes and identifies vendors’ abilities to both deliver immediate benefit, as well as meet future client requirements in both RPA and AI in banking.
“We are proud to be recognized by NelsonHall as a leader in RPA and AI in banking,” said Bob Graham, executive vice president, global head of solutions, Banking and Financial Services, VirtusaPolaris. “Intelligent automation, including RPA, Chatbots and AI, present significant opportunities for our banking clients to change traditional ways of operating, deliver product and service more efficiently with higher customer satisfaction, and provide differentiated innovation opportunities. VirtusaPolaris is committed to helping our clients maximize the potential of intelligent automation through investments in a broad range of product partnerships and custom-built accelerators that address the critical business needs of our clients, including KYC and fraud.”
“The banking industry is in a state of flux and we are seeing banks just beginning their RPA and AI journeys,” said Ayesha Kareem, vice president, global head of Robotics Process Automation (RPA) Practice at VirtusaPolaris.” Through our consulting offerings, we are helping clients define and set up Centers of Excellence to quickly understand the technology landscape, identify opportunities for automation, help manage operational impacts, and accelerate their deployment through our robot factory.”
Citing the company’s acquisition of Polaris in 2016, the NEAT report emphasizes VirtusaPolaris’ ability to provide rapid build and deployment of RPA and AI Proof of Concepts (POCs) and operations across a wide range of banking processes, while maintaining a strong partner ecosystem across RPA and AI and a comprehensive set of IPs, including its own RPA solution, Accello. Additionally, VirtusaPolaris’ partnership with IBM Watson enables the application of cognitive technology to the banking sector.
“Virtusa’s acquisition of Polaris has provided the company with an established beachhead in the rapidly evolving RPA and AI activities of banks,” said NelsonHall analyst Andrew Efstathiou. “VirtusaPolaris is well positioned to respond to the demand for automation engagements, has a robust framework for automation consulting and implementation, has a good installed base of RPA projects and a strong pipeline for additional RPA and AI projects. VirtusaPolaris has the potential to grow its RPA and AI practice on a strong trajectory.”
Leveraging its 25 years of experience and expertise in the banking and financial services industry, VirtusaPolaris has been helping banks and financial institutions accelerate their innovation process and effectively meet the challenges of digital disruption. VirtusaPolaris’s RPA and AI services in banking encompass consulting, design and POC, with RPA also covering operations. VirtusaPolaris’s RPA and AI deployments focus on retail banking, corporate banking, securities and finance, HR, compliance and risk.
The company’s RPA Practice has also been helping clients from other industries, including Insurance, Healthcare, and Telecom, capitalize on the emerging opportunities automation is throwing up for businesses. Recently, VirtusaPolaris was honored with the Stevie American Business Award in the Most Innovative Technology Company of the Year category, for its creative technical environments that nurture innovation, supported by a strong technical team to help its clients achieve profitability.
For more information on NelsonHall’s RPA and AI in Banking report 2016, visit https://research.nelson-hall.com/sourcing-expertise/neat-reports/?avpage-views=neat&avpageviews=neat&NEATaction=viewProject&project=111
To view more information on VirtusaPolaris’s capabilities in Banking and Financial Services, visit http://www.virtusapolaris.com/industries/banking-and-financial-services/perspective/
NelsonHall is the leading BPS and IT services research firm with analysts in the U.S., U.K., and Continental Europe. The company takes a global approach to analysis of vendors and outsourcing markets and is widely respected for the quality and depth of its research. With its “Speed-to-Source” initiative, including NEAT, NelsonHall is helping buy-side organizations significantly reduce the time and cost associated with BPS and ITS sourcing projects.
VirtusaPolaris, the market-facing brand reflecting the combined strengths of Virtusa Corporation and Polaris Consulting & Services, Ltd. is a global provider of information technology (IT) consulting and outsourcing services that accelerate business outcomes for Global 2000 companies and leading software vendors in banking and financial services, insurance, healthcare, telecommunications, technology, media and entertainment.
VirtusaPolaris’ solutions address the CXOs’ dual challenge of growing revenues while improving IT cost efficiencies. VirtusaPolaris’ digital services leverage innovative new technologies to reimagine the customer experience, increasing retention and creating lasting value. VirtusaPolaris’ preemptive outsourcing solutions help clients reduce risk and improve IT operations.
VirtusaPolaris delivers services across the IT lifecycle, including consulting, solution design, technology selection, implementation, testing and maintenance & support, including infrastructure support. Inheriting a strong heritage in software engineering, VirtusaPolaris is highly qualified to both develop and maintain software, using a proven platforming methodology and advanced Agile and Accelerated Solution Design techniques to reliably produce results on time and within budget.
Holding a record of success across industries and unparalleled domain expertise, VirtusaPolaris understands clients’ business challenges best and uses that to deliver distinctive, differentiated and innovative application of technology to solve those problems. Examples of large business transformations completed include the world’s largest P&C claims modernization program, one of the largest corporate customer portals for a premier global bank, an order to cash implementation for a multinational telecommunications provider, and digital transformations for media and banking companies.
Virtusa Corporation is headquartered in Massachusetts, and together with Polaris, has 50 offices across North America, Europe and Asia.
Polaris Consulting & Services is a subsidiary of Virtusa Corporation. Copyright © 2017 Virtusa Corporation. All Rights Reserved.