This news follows Bolero’s release of the world’s first white-labelled trade portal-as-a-service solution for financial institutions. The solution helps financial institutions achieve an accelerated time to market in delivering digital trade services to their trade clients whilst reducing the total cost of ownership in comparison to an in-house build or traditional software.

“We have been a preferred partner for banks and financial services firms for more than 20 years and over this time, our goal has been to help drive operational excellence and create new cost efficiencies,” said Amit Bhute, SVP & Head, Banking Practice, Virtusa. “We are excited to be working with Bolero and to bring its Galileo TPaaS portal to the world, allowing banks to leverage digital trade services without having to take on a complex implementation and significant technology investments.”

Banks can benefit from a greater scope of innovation through easy integration of external services within the product, improving customer experience and engagement, reducing client administration overheads for high-volume trade activity and increased customer satisfaction across small businesses, SMEs, and multinationals.

“To provide a better solution to banks, we have worked alongside our corporate clients and leading multinational banks to create a portal that offers the fastest way to digitize customer experience and dramatically transform the customer experience,” said Andrew Raymond, CEO at Bolero International. “Our partnership with Virtusa is critical to our long-term strategy and the availability of Galileo TPaaS for Banks around the world. With this we believe we will address a significant pain point for banks.”