|[January 11, 2017]
VirtusaPolaris Recognized by HfS Research for Emerging Blockchain Services in BFSI
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 the company has been recognized by analyst firm HfS
Research in its Blueprint Report for its emerging blockchain services in
Banking, Financial Services and Insurance (BFSI).
VirtusaPolaris has developed leading blockchain capabilities in its
financial services practice, focusing within its FinTech Lab on
developing solutions like over-the-counter (OTC) derivatives,
remittances, cash management, payments sandbox, and blockchain sandbox.
For its Blueprint Report, HfS Research cited the company's blockchain
strengths in two core areas: working on projects to migrate from Proof
of Concepts (PoCs) to production environments for clients that will give
each party intellectual property (IP), and working on a library to
extract blockchain tokens, encrypt tokens using wallet keys, a naming
service, and messaging.
"As the technology and capabilities of blockchain continue to develop,
banking, financial services and insurance organizations must fully
commit to innovation and digital transformation to keep up with this
growing market segment," said Samir Dhir, president - Banking &
Financial Services, VirtusaPolaris. "This recognition is evidence of our
continued dedication to providing our clients with the technologies they
need to be at the forefront of innovation and increase productivity by
utilizing blockchain's distributed database."
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 its FinTech Lab, provides an
environment in cloud with built-in sandboxes and a banking data model
for customers to quickly run experiments and turn ideas in to MVPs
(Minimum Viable Products). VirtusaPolaris has partnered with several
technology companies, including Signix, Token.io, Chain.com, and
Coins.ph for its blockchain-related solution offerings. While the
definition of a blockchain is open to various interpretations,
VirtusaPolaris, through its service offerings, has eliminated or reduced
the role of alternate currencies to focus on the use of underlying
technologies for process improvement prposes.
"VirtusaPolaris is moving forward in its exploration of blockchain on
both the innovation and the execution aspects," said Christine Ferrusi
Ross, research vice president, Strategy and Product Development. "The
firm's Fintech-focused blockchain solutions look at specific client pain
points like OTC derivatives and cash management, among others. The
company marries that business view with technical aspects like the
library it's building for extracting blockchain tokens using wallet keys
and for messaging."
The HfS Blueprint™ Report identifies relevant differentials between
service providers across a number of facets under two main categories:
innovation and execution. HfS Blueprint Report ratings are dependent on
a broad range of stakeholders with specific weightings based on 1,355
To see the final HfS Blueprint Report ranking, please visit https://www.hfsresearch.com/pointsofview/hfs-blueprint-guide-emerging-blockchain-bfsi.
For more information on VirtusaPolaris' solutions for blockchain, please
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
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 (News - Alert) 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 © 2016 Virtusa
Corporation. All Rights Reserved.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170111005054/en/
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