Company recognized among top 100 technology vendors serving the financial industry

WESTBOROUGH, Mass. – (October 18, 2012) – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that offers a broad range of information technology services, including IT consulting, technology implementation and application outsourcing, today announced their company’s ranking on the FinTech 100, an annual international listing of the top vertical technology vendors that derive more than one third of their revenue from this industry, as named by American Banker, Bank Technology News and IDC Financial Insights.

“We are honored to be included on the prestigious FinTech 100 List,” said Kris Canekeratne, chairman and CEO of Virtusa. “Our team of tenured industry consultants and global engineers dedicated to our financial services practice are delighted to be acknowledged for their work. Our global team members focus on transformational solutions that enable our clients to accelerate product launch, lower overall costs, improve operational efficiencies and adhere to increasing regulatory and compliance requirements.”

This year, Virtusa ranked 64th on the list of financial technology companies that were judged according to their global revenues. The company has moved up over 20 spots in the past two years, having been ranked 88 in 2010 and 79 in 2011. This upward movement is clear indication of the company’s strong growth and the value it continues to bring to the financial services industry.

Virtusa partners with some of the world’s largest banking and financial services companies, including retail, wholesale and investment banks, lending firms, card services, securities traders, and brokerage firms. Virtusa uses its Platforming methodology and global delivery model to help companies optimize their software applications and platforms, enhance operational efficiencies, minimize risks, sustain cost leadership, and support their business transformation initiatives.

In 2011, to bolster its banking and financial services offerings, Virtusa acquired ALaS Consulting, a leading provider of consulting and advisory services to financial services companies. The acquisition strategically expanded Virtusa’s leading position within the industries by adding capital markets and investment banking domain expertise, consulting and program management skills. This consulting expertise combined with the company’s project implementation and management capabilities differentiates Virtusa from other IT firms, enabling the company to help financial institutions around the world overcome industry challenges and achieve their unique business objectives. For more information on Virtusa's solutions for banking and financial services organizations, please visit https://www.virtusa.com/industries/banking-financial-services/.

Companies named to the 2012 FinTech 100 List were honored on October 10 at a breakfast ceremony at the Bank Administration Institute (BAI) Retail Delivery convention in Washington D.C. The full list of 2012 FinTech 100 honorees can be accessed on American Banker’s website at http://www.americanbanker.com/fintech100/.