ITMAGINATION

ITMAGINATION is a Warsaw-based software development firm that became part of Virtusa in 2023. The company has spent over a decade building applications for banks, insurers, and financial services firms, with a track record of 2,000+ projects and 100+ top-tier BFSI clients. It operates as a delivery center within Virtusa's larger 30,000-person organization, contributing 15,000+ BFSI specialists across data, cloud, AI/ML, and core banking modernization.

The firm's core strength lies in application modernization for Azure and AWS environments. Its team includes a Chief Architect (Maciej Gos, 20+ years in BFSI technology), competency leaders in .NET, Java, and data platforms, and 50+ supporting engineers. Client tenure averages 12+ years, and it maintains a 90th percentile NPS score.

Services and capabilities

ITMAGINATION structures its BFSI work around four domain areas: Open Banking, Payments Modernization, Core Banking Modernization, and FinCrime/Risk/Regulatory Reporting.

On the Open Banking side, it builds developer-ready APIs using Virtusa's Open Innovation Platform (OIP), offering sandbox environments, synthetic data, and prebuilt APIs for rapid product launches. The firm emphasizes API-first architecture for payments, KYC, accounts, and wallets, alongside compliance and security at scale via built-in policy enforcement.

Payments modernization work includes cloud-native platform shifts to meet real-time and cross-border transaction demands. The team handles ISO-compliant instant payments, hybrid and cloud-native architectures, and AI-based reconciliation and fraud detection. Core banking modernization covers digital core replacements, microservices-based decomposition of monoliths using BIAN alignment, cloud-enabled wrapping of legacy systems, and 360° integration across digital channels and compliance layers.

On risk and regulatory compliance, ITMAGINATION consolidates legacy KYC, AML, CLM, and transaction monitoring systems; automates surveillance through AI/ML; and digitizes omnichannel onboarding with ID verification and dynamic CDD refresh. The firm also handles data architecture work—designing Azure Cloud Data services and Power BI solutions—and specializes in high-scale analytics, including clickstream and behavioral analytics at petabyte scale.

Notable work

Emirates NBD's API Souq is a unified API marketplace handling real-time financial integration for corporate banking, automating payments, account visibility, and cash flow management across 7 service categories.

ANZ's BlueSpace sandbox allows fintechs and startups to test digital banking solutions using synthetic transaction data and API plugins without touching production systems, reducing onboarding friction.

AXA migrated to a hybrid cloud setup on Azure, gaining infrastructure scalability, improved failure reproducibility, and significantly lower maintenance costs.

In a 13-month engagement, ITMAGINATION migrated 4+ billion records and 3.2 million credit accounts across 9 source and 4 target systems with only 14 rejected records and full real-time reconciliation across 650+ reports. For BNP Paribas, the firm executed a weekend card account consolidation during a merger, moving 44,000 accounts and 100+ million transaction records with 900+ data mappings and 170 reconciliation rules. The same bank's KYC/AML automation now handles 100,000 monthly assessments across 700+ branches.

For Greenlight, ITMAGINATION designed a youth banking platform with card issuing, instant transfers, and savings rewards in a mobile-first environment. The firm built a clickstream analytics engine supporting 9M+ retail customers with 1PB+ of behavioral data and 900+ predictive triggers for loan targeting and campaign conversion. A data warehouse project consolidated 20+ systems including two core banking platforms to support BASEL II compliance and regulatory reporting.

How they work

ITMAGINATION uses a structured modernization framework: Assessment & Strategy (identifying technical debt and defining roadmaps), Extract & Decouple (separating key workloads from monoliths), Rebuild with Cloud-Native Architectures (microservices, Kubernetes, serverless), Automate (CI/CD, infrastructure as code, DevOps), and Optimize (cloud cost tuning and AI-driven insights). The firm engages via team extension, outsourcing, and dedicated delivery center models. Leadership includes a Global Head of Banking and Financial Services (Amit Bhute, 25+ years in BFSI), a Chief Architect, and competency leaders in Java, .NET, and data. Average client tenure is 12+ years, suggesting longer-term engagements rather than project-based work.

Team and credentials

The firm is part of Virtusa but maintains a solutioning leadership team with deep BFSI expertise. Amit Bhute (Global Head, 25 years in financial services) has led modernization of payments platforms, core banking systems, and cash management. Maciej Gos (Chief Architect, 20 years in technology and BFSI) designs secure, scalable solutions on Azure. Jakub Czajkowski (.NET leader, 16+ years in IT, 10+ at ITMAGINATION) focuses on backend and cloud architecture. Tomasz Rębelski (Java leader, 13+ years) specializes in modernization and enterprise integration. Piotr Walkowiak (Data leader, 13+ years) designs Azure Data services and Power BI. The organization operates with 50+ supporting engineers and draws on Virtusa's broader 30,000-person staff. The source does not mention formal certifications like ISO 27001 or SOC 2, though it references Azure and AWS partnership integration.