Banking BPO Service Provider Profile Compendium 2015
Copyright © 2015, Everest Global, Inc.
Banking, Financial Services, and Insurance (BFSI) Outsourcing
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This report focuses on banking BPO
1 Business-to-consumer relationships 2 Business-to-business relationships
Retail financial services
(B2C
1)
–
Cards
–
Retail banking
–
Lending
Commercial banking (B2B
2)
Banking
Investment banking
Asset management
Custody & fund
administration
Brokerage
Capital markets
Life & pensions
Property & casualty
Reinsurance
Insurance
Banking, Financial Services,
and Insurance (BFSI)
Focus of this report
Note: This report covers vertical-specific BPO within the banking space. It does not include coverage of
Table of contents
(page 1 of 2)
Background and scope
7
Section I: Banking BPO service provider landscape snapshot
8
Section II: Profile of banking BPO Leaders
15
Genpact
16
TCS
22
Wipro
29
Section III: Profile of banking BPO Major Contenders
36
Avaloq
37
Cognizant
44
EXL
52
HCL
59
IGATE
66
Infosys
72
Mphasis
79
Serco
85
Sutherland Global Services
92
Table of contents
(page 2 of 2)
Section III: Profile of banking BPO Major Contenders (continued)
Syntel
98
WNS
105
Xerox
112
Section IV: Profile of banking BPO Aspirant
118
Tech Mahindra
119
Section V: Appendix
125
PEAK Matrix framework
126
Glossary of terms
128
BFSI BPO research agenda
130
References
131
Background and scope of the research
Background of the research
Banking BPO is the largest and the most mature market within BFSI BPO. As regulatory bodies increase their
oversight on banks’ activities, cost of compliance for banks will continue to rise, generating newer opportunities
for BPO providers to help reduce the same. This, coupled with newer entrants in the space (for instance, small
banks), is also causing a spike in the demand for banking BPO services. Buyers are now looking towards
service providers to deliver more than just cost savings. Services and tools to ensure compliance and prevent
banks from faltering in the future are increasingly gaining prominence. However, service providers still need to
prove their capabilities to buyers before a widespread adoption can be witnessed. As buyers mature, they will
look at leveraging process automation as the next means of cost reduction and optimizing operational
efficiency. With a progressively changing landscape, service providers will be required to make the right set of
investments to innovate and stay competitive. At the same time, buyers need to identify the providers who
clearly understand their unique business challenges and can help mitigate the same.
Scope
The banking BPO service provider profile compendium provides accurate, comprehensive, and fact-based
snapshots of 16 service providers
1. Each service provider profile shows a comprehensive picture of the
provider’s service suite, scale of operations, technology solutions, delivery locations, and buyer satisfaction
along with Everest Group’s assessment of the provider. The report also sheds insights into the global banking
BPO service provider landscape.
Note: Assessment for Accenture, CSC, Equiniti, HP, IBM, NIIT Technologies, and Polaris excludes service provider inputs on this particular study, and is based on Everest Group’s estimates which leverage Everest Group’s proprietary Transaction Intelligence (TI) database, ongoing coverage, service provider public disclosures, and interaction with buyers. However, a detailed profile for these service providers has not been included.
ABC
(page 1 of 6)
Banking BPO – overview
Recent acquisitions and partnerships
XX XX
XX XX
Recent developments
XX XX
XX XX
Suite of services
XX XX
XX XX
2012
2013
2014
Revenue (US$ million)
XX
XX
XX
ABC
(page 2 of 6)
Banking BPO – key delivery locations
Hyderabad
Bangalore
Mangalore
Chennai
Kolkata
Pune
London
New York
Singapore
Hong Kong
Minot
Des Moines
Banking BPO revenue mix by geography
FTEs in numbers
ABC
(page 3 of 6)
Banking BPO – capabilities and key clients
Key Banking Engagements
Client name LoB Region Year since client
XX XX Cards United States 2006
XX XX Commercial banking United Kingdom 2007
XX XX Retail banking Global 2010
XX XX Lending Australia 2011
Banking BPO FTE split by delivery location
FTEs in numbers
Banking BPO number of contracts by buyer size1
Number of active contracts
Banking BPO FTE mix by segment
Revenue in US$ million
APAC Offshore 100% = xx Onshore Europe North America Large Small Medium MEA 100% = xx 100% = xx 100% = xx Retail banking Commercial banking Cards Lending
ABC
(page 4 of 6)
Banking BPO – technology solutions/tools
Application LoB Year launched Description No. of BPO clients
XX XX Cards 2006 XXX XX
XX XX Commercial banking 2007 XXX XX
XX XX Retail banking 2010 XXX XX
XX XX Lending 2011 XXX XX
ABC
(page 5 of 6)
Banking BPO – risk management & regulatory reporting
Regulatory reporting support List of regulations Description No. of BPO clients
US regulations XXX XXX XX
UK regulations XXX XXX XX
Risk management support Description No. of BPO clients
Credit Risk XXX XX
Operations Risk XXX XX
Liquidity Risk XXX XX
Regulatory Risk XXX XX
14%
7%
ABC
(page 6 of 6)
Everest Group assessment
Delivery capability assessment1
Assessment
dimension Rating Remarks
Scale XXX Scope XXX Technology solutions & innovation XXX Delivery footprint XXX Buyer satisfaction XXX XXX XXX XXX XXX XXX XXX XXX XXX
Key strengths Areas of improvement
Best-in-class Very high High Medium high Medium Medium low Low Not mature Best-in-class Very high
Market success assessment
ABC
Peer set average1
ABC
Peer set average
YoY Growth Revenue in percentage YoY Growth Clients in percentage 22% 17%
Banking BPO revenue
US$ million
Banking BPO clients
Number of clients
BFSI BPO research calendar
Topic Release date
Published Current
Q4 2015 P&C Insurance BPO – Service Provider Profile Compendium 2015
Q3 2015 L&P Insurance BPO – Service Provider Landscape with PEAK Matrix Assessment 2015
November 2015 Banking BPO – Service Provider Profile Compendium 2015
Q4 2015 L&P Insurance BPO – Service Provider Profile Compendium 2015
May 2015 Mortgage BPO State of Market Report 2015 – Curve of Time to Meet Mortgage Again?
May 2015 Mortgage BPO – Service Provider Landscape with PEAK™ Matrix Assessment 2015
May 2015 Commercial Insurance BPO - Rise of Specialty Lines
May 2015 Home Equity Loans - The Next Frontier in Mortgage BPO?
May 2015 Banking Business Process Outsourcing in Europe - Poised for Primetime
June 2015 Technology in BPS – Service Provider Profile Compendium 2015
June 2015 Banking BPO Annual Report 2015 – Heavy on Technology, Low on People – Future of Banking BPO
Q4 2015 Capital Markets BPO – Service Provider Profile Compendium 2015
July 2015 Capital Markets BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2015
Q3 2015 P&C Insurance BPO – Service Provider Landscape with PEAK Matrix Assessment 2015
August 2015 Banking BPO – Service Provider Landscape with PEAK MatrixTMAssessment 2015
Q3 2015 Insurance BPO – Annual Report 2015
August 2015 Technology in Business Process Services (BPS) – The Pecking Order
Additional BFSI BPO research references
The following documents are recommended for additional insight into the topic covered in this report. The recommended documents either provide additional details on the topic or complementary content that may be of interest
1. Banking BPO Annual Report 2015 – Heavy on Technology, Low on People – Future of Banking BPO (EGR-2015-11-R-1466); 2015. This report assists key stakeholders (buyers, service providers, and technology providers) understand the changing dynamics of the banking BPO market and help them identify the trends and outlook for future. In this backdrop, this report provides comprehensive coverage of the global banking BPO market including detailed analysis of market size & growth, buyer adoption trends, solution characteristics, and service provider landscape
2. Banking BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2014 (EGR-2014-11-R-1272); 2014. This report uses Everest Group’s proprietary PEAK Matrix to assess and rate service providers on various dimensions of their capabilities. It also
discusses key emerging trends in the fast-growing banking BPO market
3. Mortgage BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2015 (EGR-2015-11-R-1449); 2015. This report uses Everest Group’s proprietary PEAK Matrix to assess and rate service providers on various dimensions of their capabilities. It also provides concise and fact-based snapshots of 13 major mortgage BPO service providers
For more information on this and other research published by Everest Group, please contact us: Anupam Jain, Practice Director:
Manu Aggarwal, Senior Analyst: Amardeep Modi, Senior Analyst:
Arushi Diwan, Senior Information Specialist FS BPO Team: anupam.jain@everestgrp.com manu.aggarwal@everestgrp.com amardeep.modi@everestgrp.com arushi.diwan@everestgrp.com FSBPOresearch@everestgrp.com
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