Status reinforces company's focus and commitment to deliver innovation and excellence to its clients

WESTBOROUGH, Mass., (September 26, 2016) VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading global provider of information technology (IT) consulting and outsourcing services, today announced it has been recognized by Everest Group, an advisory and research firm, for its capabilities in Application Outsourcing in Global Banking Services.

For the third consecutive year, VirtusaPolaris was named a Major Contender and specially recognized as a Star Performer based on its relative year-on-year movement in Everest Group's PEAK Matrix for the Global Banking Service Provider Landscape.The banking industry is seeing a seismic shift, largely due to the impact of digital disruption and emerging new paradigms, said Jitin Goyal, president, Banking and Financial Services, VirtusaPolaris & CEO, Polaris Consulting & Services, Ltd. Blockchain, Deep Learning & API Banking have the potential to completely redefine the banking industry. Banks need help to be the beneficiaries and not victims of this change.

Being named a Star Performer for global banking services is a testament to our vast industry knowledge and extensive experience in helping our banking clients survive and thrive by creating new efficiencies, transforming operations and shaping and deploying innovative products and services.The disruption in the banking industry, which is driven by global macroeconomic uncertainties, digitalization, and growth in FinTech, is forcing service providers to focus beyond traditional IT services in order to deliver breakthrough value to their customers, said Jimit Arora, partner, Everest Group.

A synergistic merger Virtusa's strong customer-oriented delivery capabilities and a strong suite of digital transformation offerings complemented by Polaris deep domain expertise, strong systems integration capabilities, and access to large banking accounts helped VirtusaPolaris position itself as a Star Performer and Major Contender in the 2016 Everest Group Banking AO PEAK Matrix^TM.Issued annually, the Everest Group study measures service providers on their proprietary Performance, Experience, Ability and Knowledge (PEAK) Matrix. Everest Group designates the Star Performers title to providers that demonstrate the strongest relative year-on-year movement on the PEAK Matrix^TM.VirtusaPolaris was positioned as a Major Contender based on evaluation across two key dimensions: market success measured by revenue, growth, and enterprise adoption; and delivery capability measured by application outsourcing scale, scope, domain expertise and innovation, delivery footprint, and buyer satisfaction focused on banking. Furthermore, VirtusaPolaris was awarded Star Performer status based on its relative year-on-year movement on the Global Banking Service Providers PEAK Matrix^TM.With over 25 years of experience serving top clients, VirtusaPolaris has delivered successful solutions that have transformed several global banks, top brokerage firms, and card and payment providers.Through its industry-leading business consulting capabilities, cutting edge solutions, and transformational technology expertise, VirtusaPolaris works with banks and financial services firms to leverage digital disruption to reinvent and transform themselves into market leaders.

To access the full report, click here: https ://research.everestgrp.com/Product/EGR-2016-11-R-1848.

For more information on VirtusaPolaris' solutions for banking and financial services organizations, please visit https://www.virtusa.com/industry/bfs/