Open banking has evolved and extended its benefits to a wider range of financial products, including mortgages, wealth management, insurance, savings, and capital markets. It has also added a cross-industry dimension, giving rise to concepts such as embedded finance, buy now pay later, and super-apps. This enables banks to become more customer-centric and deliver hyper-personalized products, allowing customers greater visibility into their financial lives. Adoption and implementation are rapidly increasing, and open finance is expected to revolutionize traditional banking models, leading to innovative models such as marketplace banking. Additionally, regulators worldwide are implementing regulations and data sharing initiatives to synergize banks and FinTechs, leading to open data. This allows customers to share data across multiple industries, which, in turn, enables enterprises and providers to build new solutions, establish partnerships, and merge and acquire to strengthen their market position. This compendium provides detailed profiles of 26 Banking and Financial Services (BFS) IT service providers featured on the Open Finance IT Services PEAK Matrix® Assessment 2022. Each profile offers a comprehensive overview of the provider’s vision and strategy, practice size and scale, delivery footprint, scope of services and solutions offered, investments, partnerships, case studies, and strengths and limitations. The compendium will enable providers to benchmark their capabilities against their peers, while enterprises will be able to assess the providers based on their desired set of capabilities. Scope Industry: BFS Geography: global Our assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading technology and digital services providers, client reference checks, and an ongoing analysis of the open finance IT services market Contents In this report, we evaluate 26 service provider profiles and include: Key trends in the BFS open finance space Providers’ classification as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework A summary dashboard on market impact and vision and capabilities An overview of the providers’ open finance IT services business – vision, scope of services offered, delivery footprint, practice size and scale, and presence across enterprise segments and geographies An overview of the providers’ open finance IT services investments, key solutions/IP, and partnerships Providers’ open finance IT services case studies Key strengths and limitations Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management

Global macroeconomic conditions, evolving customer preferences, supply-chain disruptions, regulatory scrutiny, and transforming operating models are driving Banking and Financial Services (BFS) firms to build resilient, scalable, and flexible risk management and regulatory reporting IT and technology systems. However, roadblocks such as legacy IT landscape and fragmented data systems are hampering the transformation of BFS enterprises’ Risk and Compliance (R&C) functions. BFS enterprises are also looking to evaluate how environment, social, and governance factors impact their financial products and the risks that they undertake. Additionally, they are creating new services and products that drive sustainable outcomes for their clients. To serve this need, technology providers are partnering with technology and platform providers to develop solutions such as cloud-based, API-driven, and intelligent R&C management platforms to help BFS firms better manage their R&C functions. They are also investing in tools, accelerators, CoEs, next-generation technology solutions, and talent to improve enterprises’ R&C advisory and IT services capabilities. This compendium provides detailed and fact-based snapshots of 26 BFS risk and compliance IT service providers featured on the Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2022. Each profile provides a comprehensive picture of the provider’s vision and strategy, practice size and scale, delivery footprint, scope of services and solutions offered, investments, partnerships, case studies, and key strengths and limitations. The compendium will enable providers to benchmark their capabilities against their peers, while enterprises will be able to assess the providers based on their desired set of capabilities. Scope Industry: BFS Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading technology and IT services providers, client reference checks, and an ongoing analysis of risk and compliance in BFS IT services market Contents In this report, we: Examine key trends in the BFS risk and compliance space Classify 26 BFS IT service providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Summarize providers’ market impact and vision and capabilities Review the providers’ vision, scope of services offered, delivery footprint, practice size and scale, case studies, and presence across enterprise segments and geographies Study the providers’ BFS risk and compliance IT services investments, key solutions/IP, and partnerships List the providers’ key strengths and limitations Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management

The wealth management industry has massively changed in the past few years due to the democratization of wealth management services, generational wealth transfer, rise of unconventional asset classes, and increased demand for hyper-personalized services. High Net Worth Individual (HNWI) clients are increasingly demanding that innovative products such as cryptocurrency and ESG-compliant sustainable investments to be included in their portfolios. Robo-advisors are also offering personalized advisory services at affordable prices. Technology intervention is driving a shift in wealth management services, with the digital advisory model enabling innovative ways of customer interaction. Wealth management technology providers are developing end-to-end comprehensive solutions to enable exhaustive coverage of the entire value chain. They are also building a strong partnership ecosystem with WealthTechs, FinTechs, and hyperscalers to expand their market reach. Enterprises are acknowledging the changing demand trends and are differentiating themselves by offering innovative products and hyper-personalized services. This compendium provides detailed and fact-based snapshots of 16 wealth management technology providers. Each profile provides a comprehensive picture of the provider’s vision & capability and market impact. The compendium will enable providers to benchmark their capabilities against their peers, while enterprises will be able to assess the providers based on their desired set of capabilities. Scope Industry: wealth management Geography: global Contents In this report, we evaluate wealth management technology providers on their: Company overview Recent partnerships and acquisitions Proprietary IP/solutions Market adoption and capabilities Client portfolio mix Key offerings and investments Client success stories Key strengths and limitations Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management

The concept of open banking is no longer restricted to payment services. Open finance has widened its scope to include mortgages, wealth management, insurance, savings, and capital markets. These use cases are giving rise to concepts such as embedded finance, buy now pay later, and super-apps, which will allow banks to deliver hyper-personalized products and become more customer-centric. Open finance can disrupt traditional banking models and give rise to innovative models such as marketplace banking. Additionally, regulators across geographies are implementing regulations and data sharing agendas to synergize banks and FinTechs. This will give rise to open data, which will allow customers to share data across multiple industries. In turn, enterprises and providers are building new solutions, establishing partnerships, and undertaking mergers and acquisitions to strengthen their position in the marketplace. In this report, we assess 26 Banking and Financial Services (BFS) IT service providers’ vision & capability and market impact and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants. Each provider profile provides a comprehensive picture of its service focus, key Intellectual Property (IP) / solutions, domain investments, and case studies. Scope: Industry: BFS Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading IT service providers, client reference checks, and an ongoing analysis of the open finance IT services market Contents: In this report, we: Classify 26 BFS IT service providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Examine key trends in the BFS open finance space Study IT service providers’ competitive landscape for open finance solutions Assess the key enterprise sourcing considerations (strengths and limitations) for each provider Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management

Global macroeconomic conditions, evolving customer preferences, supply-chain disruptions, regulatory scrutiny, and transforming operating models are driving Banking and Financial Services (BFS) firms to build resilient, scalable, and flexible risk management and regulatory reporting IT and technology systems. However, roadblocks such as a legacy IT landscape and fragmented data systems are hampering the transformation of BFS enterprises’ Risk and Compliance (R&C) functions. BFS enterprises are also looking to evaluate how environment, social, and governance factors impact their financial products and the risks they undertake. Additionally, they are creating new services and products that drive sustainable outcomes for their clients. To serve this need, service providers are partnering with technology and platform providers to develop solutions such as cloud-based, API-driven, and intelligent R&C management platforms to help BFS firms better manage their R&C functions. Service providers are also investing in tools, accelerators, CoEs, next-generation technology solutions, and talent to improve their R&C advisory and IT services capabilities. In this report, we study the vision & capability and market impact of 26 BFS risk and compliance IT service providers and position them on Everest Group’s proprietary PEAK Matrix®as Leaders, Major Contenders, Aspirants, and Star Performers. Scope: Industry: BFS Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading technology and IT services providers, client reference checks, and an ongoing analysis of risk and compliance in the BFS IT services market Contents: In this report, we: Examine key trends in the BFS risk and compliance space Classify 26 BFS IT service providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Mention Star Performers – service providers with the strongest forward movement over time on the Risk and Compliance in BFS IT Services PEAK Matrix® 2022 Study the IT service providers’ competitive landscape for R&C in BFS List the providers’ key strengths and limitations Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management

The wealth management industry has massively changed in the past few years due to the democratization of wealth management services, generational wealth transfer, rise of unconventional asset classes, and increased demand for hyper-personalized services. Next-generation investors are increasingly demanding that innovative products such as cryptocurrency and ESG-compliant sustainable investments be included in their portfolios. Robo-advisors are also offering personalized advisory services at affordable prices. Technology intervention is driving a shift in wealth management services, with the digital advisory model enabling innovative ways of customer interaction. Wealth management technology providers are developing end-to-end solutions to serve the entire value chain. They are also building a strong partnership ecosystem with WealthTechs, FinTechs, and hyperscalers to expand their market reach. Wealth managers are acknowledging the changing demand trends and are differentiating themselves by offering innovative products and hyper-personalized services. In this report, we assess 16 wealth management technology providers’ vision & capability and market impact, based on which we categorize them as Leaders, Major Contenders, and Aspirants. The research will help wealth management enterprises select the right-fit technology provider for their needs, while technology providers will be able to benchmark themselves against the competition. Scope Industry: wealth management Geography: global Our assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading technology and digital services providers, client reference checks, and an ongoing analysis of the wealth management products market Contents In this report, we: Classify 16 wealth management technology providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix®framework Examine key trends in the wealth management space Study the competitive landscape of technology providers for wealth management solutions Look at key enterprise sourcing considerations (strengths and limitations) for each of the 16 technology providers evaluated Membership(s) Banking Information Technology Sourcing and Vendor Management

As the world economy grapples with inflationary pressure, interest rate hikes, and geo-political tensions, banking enterprises are under tremendous pressure to maintain their top and bottom lines. Going forward, treasury functions such as cashflow forecasting and liquidity management will be key to success, providing higher visibility into real-time cash flow worldwide and enabling banks to offer superior service to their corporate clients. In line with this shift, the role of corporate treasurers is expanding from traditional treasury value-chain elements to strategic decision-making. Their business priorities are also shifting in light of the rise in digital assets, evolving customer preferences, emergence of FinTech, and the need to improve transparency following regulatory changes. Therefore, they are increasingly leveraging APIs, AI/ML, and RPA to modernize treasury functions such as cash & liquidity management and risk management and accelerate the adoption of real-time payments. In this report, we present Everest Group’s view of a future-ready technology architecture for corporate treasurers achieved through technology intervention across treasury value-chain elements. We also analyze top global banks’ technology investment themes to modernize the different treasury lines over the past two years, the evolving partnership ecosystem, and the Treasury Management Systems (TMS) landscape, comprising incumbents that offer end-to-end solutions and emerging companies catering to point solutions. Scope Industry: Banking and Financial Services (BFS) Geography: global Contents This report examines: Emerging BFS market trends and the shifting business priorities of corporate treasurers The evolving role of treasurers in strategic decision-making and technology challenges in achieving end-to-end visibility across various treasury value chain functions Technology intervention across the treasury value chain via automated TMS, third-party platforms, APIs, and cloud and their role in driving enterprises to the future of real-time digital treasury Implications for corporate treasurers and providers Membership(s) Banking Information Technology Sourcing and Vendor Management

The market volatility brought by the pandemic and recent economic sanctions on Russia have increased inflationary pressures. At the same time, buy-side firms’ assets under management have grown significantly, while sell-side firms’ business volumes have increased. Capital Markets (CM) firms are looking to route the incremental revenue toward technology investments to create a digitally enabled CM value chain. They see an increasing need to shift to an intelligent, automated, data-led, open, and accessible digital operating model that keeps costs low and offers an enhanced experience to customers and employees. With a rise in IPOs, M&As, and the demand for investment research, sell-side firms are retiring their legacy systems to shift to a cloud-driven architecture to manage increasing client workloads and provide a seamless employee experience. Technology is the primary lever in bringing changes to the process value chain of IPOs and M&As. In this report, we discuss the key business-side priorities of CM firms, examine their technology implications and the investments made to address those priorities, evaluate the CM IT services market size, and consider the growth drivers of different Lines of Business (LoBs), geographies, and service lines. The study also features a CM IT outsourcing spend analysis across various LoBs, geographies, and IT service segments. Scope Industry: banking and financial services Geography: global Contents In this report, we study: Forces shaping the future of the CM industry The role of data platforms, cloud, and technology in shaping customer experiences Web 3.0 and embedded finance adoption use cases for CM firms CM firms’ IT outsourcing spend analysis across LoBs, geographies, and service segments Membership(s) Banking Information Technology Sourcing and Vendor Management

A changing market landscape, a recovering global economy, increasing price volatility, and the growing need for digital operations are currently shaping the market ecosystem for the investment banking sell-side business. Growing market consolidation, IPOs through Special Purpose Acquisition Companies (SPACs) and Direct Public Offerings (DPOs) beyond the traditional IPOs, an evolving regulatory landscape, the emergence of FinTechs, and technology interventions in process flows present both challenges and opportunities to investment banks. We believe that investment banks should enter into meaningful partnerships and invest in technology to drive innovation, run operations efficiently, and shield themselves from tech-savvy competitors. The future entails disruption in the process value chain of IPO and M&A processes at various levels via cloud, data, Artificial Intelligence (AI) / Machine Learning (ML) / Natural Language Processing (NLP), emerging technologies, and a platform-led approach. This report takes a comprehensive look at the current opportunities and challenges, as well as the future, for investment banks from a technology point of view. Scope: Industry: banking and financial services Geography: global Contents: This report examines: Challenges and opportunities for investment banks Role of technology in alleviating these challenges Future state of investment banks Membership(s) Banking Information Technology Sourcing and Vendor Management

Changing customer preferences, demand for digital experiences, and competition from FinTechs are impacting banks’ digital strategies and transformation initiatives. Furthermore, with the global economy recovering from the pandemic, supply chain disruptions due to the Russia-Ukraine conflict, and increased price volatility, banks will need to relook at their strategies to serve customers and customize their services, products, and experiences. Moreover, as central banks work on greener mandates and introduce regulations around open banking, banking enterprises will have to manage Environmental, Social, and Governance (ESG) risks and prepare for collaboration with other market participants. Data will be the primary lever to drive product innovation and enhance customer experience. Banks will need to start thinking of themselves as data-driven organizations to unlock value and gather insights from the vast data pools they possess. They will also need to carefully assess their legacy estates and develop a sound modernization roadmap to serve new customer demands while keeping up with evolving regulatory requirements around embedded banking and ESG. In this report, we present Everest Group’s investor/harvester thesis to delve deeper into how banking enterprises can assess their modernization roadmap better. From a technology standpoint, a microservices-based architecture, in conjunction with data-driven operations, will help drive the foundation for Event Driven Architecture (EDA). This architecture, complemented by Customer Data Platforms (CDPs), will help unlock significant business value for banks. The study also features a banking IT outsourcing spend analysis across various Lines of Business (LoBs), geographies, and IT service segments. Scope Industry: banking and financial services Geography: global Contents In this report, we study: Forces shaping the future of the banking industry The role of embedded finance, sustainable finance, and hyper-personalization in shaping customer experiences EDA adoption to drive efficiency within banking enterprises and CDP leverage to enhance hyper-personalization Banks’ IT outsourcing spend analysis across LoBs, geographies, and service segments Implications for banking enterprises and providers Membership(s) Banking Information Technology Sourcing and Vendor Management