NelsonHall Report recognises VirtusaPolaris as a leader in RPA and AI in banking

VirtusaPolaris announced this week 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 analyses and identifies vendors’ abilities to both deliver immediate benefit, as well as meet future client requirements in both RPA and AI in banking. 

VirtusaPolaris is 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.

“We are proud to be recognised 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 maximise 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 setup 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, capitalise 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.