WESTBOROUGH, Mass., – (May 18, 2017) – 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, has been included as a representative vendor in Gartner’s Market Guide for Blockchain Consulting and Proof-of-Concept Development Services. The report, published on February 22, 2017, explores options for understanding applicability and the potential impact of blockchain for organizations, and how they can identify potential partners.

According to Gartner, “the pool of experienced service providers for blockchain initiatives is small; it is particularly difficult to find service providers with experience in applying blockchain outside of financial services. Eighty percent of enterprise blockchain initiatives referred to in this research are in the banking and insurance service industry.”

“VirtusaPolaris’ inclusion in the Gartner Market Guide reinforces our position as a company leading the way in an emerging, still immature marketplace,” said Senthil Ravindran, Executive Vice President & Global Head, Fintech Lab, Banking and Financial Services, VirtusaPolaris. “Disruptive technologies like Blockchain bring forth tremendous opportunity as well as challenges. We have partnered with several forward-looking banks to help them leverage blockchain technology. Also, our lab works with cutting-edge technology firms to address the gaps in blockchain technology like privacy, scalability, etc.”

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. The Blockchain Exploration Center, which is part of our FinTech Lab, provides an environment for our customers to ideate, run experiments and quickly turn ideas into MVPs (Minimum Viable Products). VirtusaPolaris has partnered with several technology companies, including DistributedID, Signix, Token.io, Chain.com, and Coins.ph for its blockchain-related solution offerings.

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. For more information and to access the report (subscription required): https://www.gartner.com/doc/3615133/market-guide-blockchain-consulting-proofofconcept