The BFSI industry is undergoing rapid digital transformation, increasing the need for secure, seamless, and compliant digital identity solutions. Financial institutions must navigate an evolving regulatory landscape, counter sophisticated fraud tactics, and enhance customer trust, making digital identity a fundamental pillar of Financial Crime and Compliance (FCC). Rising cyber threats, fraud, and data breaches are driving the demand for AI-powered authentication, biometrics, blockchain, and decentralized identity solutions. With stricter oversight from PSD2, GDPR, eIDAS, and other global frameworks, banks and financial institutions must implement robust identity solutions that ensure security and enhance user experience. In this report, we examine digital identity solutions in the BFSI industry, analyzing technology advances, market trends, and regulatory challenges. The report highlights how financial institutions can leverage identity verification, authentication, fraud prevention, and compliance automation to improve operational efficiency and regulatory adherence. It offers strategic insights for providers and technology firms seeking to leverage the growing opportunities in the digital identity landscape. Scope Industry: Banking and Financial Services (BFS), with a specific emphasis on FCC Geography: global Services: digital identity, FCC, payment business processes, and IT Data sources: Everest Group’s ongoing market intelligence and assessment and public domain research Exclusions: digital identity solutions outside the BFSI industry Contents In this report, we examine: The evolving digital identity solutions’ role in fraud prevention, Know Your Customer (KYC), Anti-money Laundering (AML), and compliance operations Key technology innovations shaping the digital identity landscape Opportunities for providers and technology firms in the future of digital identity Market trends and competitive dynamics of digital identity solutions in the BFS space Membership(s) Financial Crime and Compliance Cybersecurity Sourcing and Vendor Management

The global payments market is rapidly transforming, driven by technology advances and digitalization. As the payment enterprise ecosystem becomes more diverse and interconnected, companies must make strategic sourcing decisions to remain competitive and prepared for the eventual stabilization of macroeconomic disruptions. This report provides actionable insights to help payment enterprises make informed partner selection decisions, offering a comprehensive guide on optimal sourcing strategies. It also includes a comprehensive supplier assessment, profiling 20 IT-BP and 10 product-heritage providers. Real-time payments, account-to-account advances, and emerging technologies, such as AI and blockchain, are reshaping the market. Digital wallets are gaining traction, and enterprises must modernize their infrastructures and enhance customer experience to stay competitive. This report serves as a vital handbook for sourcing strategies, enabling payment enterprises to navigate challenges and seize long-term success opportunities. Scope Industry: banking and financial services Geography: global Services: payment business processes and information technology services Contents In this report, we: Examine the diverse ecosystem of payment enterprises and their unique sourcing challenges Present a three-step framework to guide sourcing and partner selection decisions Provide detailed profiles of 20 IT-BP and 10 product-heritage providers Membership(s) Banking Business Process Financial Crime and Compliance Operations​ Banking Information Technology Sourcing and Vendor Management

The Banking and Financial Services (BFS) industry is adapting to swiftly evolving macro, consumer, advisor, employee, competitive, and regulatory dynamics while navigating cost pressures. To overcome these challenges, BFS enterprises must transform rapidly and implement integration initiatives. These initiatives will increase operational efficiencies and enhance end-user experience. Today, this evolution’s cornerstone lies in the strategic pivot toward optimized servicing capabilities via digital integration, manifesting across two key dimensions: front-back integration and Data and Intelligence (D&I) integration in operations. These processes allow enterprises to ensure a unified customer experience and drive efficiency and agility throughout operational workflows. In this report, we explore the necessity of embedding D&I into business processes and examine D&I adoption’s current maturity in BFS enterprises. Scope Industry: BFS Geography: global Service: BFS-BPS Contents In this study, we explore the following questions: What advantages does strategically leveraging D&I in BFS operations have? What are current and emerging D&I adoption themes in the BFS space? How can BFS enterprises prioritize relevant use cases to maximize the value realization for D&I investments? Why is there an urgent need to accelerate D&I integration amid prevailing macroeconomic scenarios? Memberships Banking Business Process Sourcing and Vendor Management

The dynamic payments market landscape is driven by technology advances and evolving consumer expectations. Heightened regulatory scrutiny and increased credit-based payment methods worldwide impact the global payments market. Digital wallets are a leading payment instrument. Firms are integrating gen AI to transform their payment operations. As digital transformation accelerates, customers demand faster, more secure, and convenient payment solutions. The competitive pressure to optimize costs and improve profit margins is driving the adoption of AI, blockchain, and cloud solutions. Enterprises should embrace open banking and modernize payment infrastructures to stay competitive and meet dynamic market needs. In this report, we examine enterprises’ evolving priorities in the payments industry. The report analyzes the current global payment market trends and the changing payments buyer landscape. It also explores the key digital levers used in payment enterprises’ sourcing priorities. Scope Industry: Banking and Financial Services (BFS) Geography: global Services: payments business process and IT Contents In this report, we Examine the payments landscape and key market trends Analyze key priorities shaping payment enterprises’ success Study the digital levers used in payment enterprises’ sourcing priorities Membership(s) Banking Business Process Banking Information Technology Financial Crime and Compliance Operations Outsourcing Excellence

Financial Crime and Compliance (FCC) operations are steadily as Banking and Financial Services (BFS) providers reduce operational expenses amid limited budgets. However, they must navigate complex regulations to avoid fines while maintaining a seamless customer experience. Additionally, rising fraud instances have compelled organizations to adopt advanced technology systems that predict and prevent fraud and lower manual intervention. BFS providers must balance these priorities to operate efficiently and compliantly in a dynamic landscape. The demand for end-to-end solutions has led technology, operations, and advisory functions to converge as providers offer comprehensive solution packages for various issues and requirements. In this report, we analyze FCC operations and providers’ focus areas, strategic investments, strengths, and limitations. Scope Industry: BFS Geography: global This report is based on data collected by Everest Group’s annual RFI process for the calendar year 2023, interactions with leading FCC operations providers, client reference checks, and a secondary ongoing analysis of the FCC operations market Contents In this report, we: Examine the emerging drivers and challenges enterprises face in FCC outsourcing Assess the ever-evolving provider landscape and trends Evaluate the FCC Business Process Services (BPS) market, buyer trends, and partnerships Membership(s) Financial Crime and Compliance Operations​ Banking and Financial Services Business Process Sourcing and Vendor Management

The Financial Crime and Compliance (FCC) Operations Provider Compendium provides accurate, comprehensive, and fact-based snapshots of 30 FCC operations service providers. It includes their scale of operations, technology solutions, and delivery locations, along with Everest Group’s PEAK Matrix® service provider assessment. The study will enable current and potential buyers of FCC operations to assess the providers on their areas of strength and limitations based on desired capabilities. Scope Industry: Banking and Financial Services (BFS) Geography: global Contents The report features 30 provider profiles and includes: Service suite and scale of operations: key leaders, service suite, FTEs, revenue, recent developments, and partnerships Delivery locations: city-level detail (subject to availability) of key delivery locations worldwide Capabilities and clients: major engagements, revenue split by geography, FTE split by process coverage and location, and number of contracts by buyer size Technology solutions: brief descriptions of key technology solutions Everest Group assessment: providers’ position on the Everest Group PEAK Matrix®, market share and delivery capability assessment, and overall evaluation of provider capabilities Membership(s) Financial Crime and Compliance Operations​ Banking and Financial Services Business Process Outsourcing Excellence

The Financial Crime and Compliance (FCC) operations landscape is rapidly expanding within the Banking and Financial Services (BFS) industry. Amid challenges such as rising fraud, evolving regulatory norms, economic pressures, and unique geopolitical circumstances, financial institutions and next-generation participants are striving to meet compliance standards. They are working to safeguard themselves from financial crimes while managing operational costs and enhancing delivery capabilities. The introduction of new regulations in the financial sector necessitates a dynamic regulatory compliance framework, posing a global management challenge for these institutions. In response to these challenges, the demand for digital-led FCC offerings is rising. Providers are seizing opportunities to leverage technology in their capabilities, provide platform-led solutions, and co-innovative advisory services to meet the industry’s growing demands. Stakeholders prioritize efficiency and productivity, aiming to reduce false positives and mitigate potential losses from regulatory fines. In this report, we analyze the vision, delivery capabilities, and market successes of 30 FCC operations service providers and their relative position on Everest Group’s PEAK Matrix® for FCC operations. The study will assist key stakeholders, such as banks, financial institutions, FinTechs, RegTechs, service providers, and technology providers, to understand the current FCC operations landscape and make informed sourcing and partnership decisions. Scope Industry: BFS Geography: global The assessment is based on Everest Group’s annual RFI process and an ongoing analysis of the FCC operations market Contents This report features 30 FCC operations service provider profiles and includes: Each provider’s relative positioning on Everest Group’s PEAK Matrix® for FCC operations Providers’ market impact Providers’ vision and capability assessment across key dimensions Enterprise sourcing considerations Membership(s) Banking and Financial Services Business Process Outsourcing Excellence

The pandemic-induced global shutdowns accelerated the adoption of remote work, driving numerous contact centers to transition to a work from home or hybrid model. While flexible work models offer benefits such as cost savings, heightened agent flexibility, and reduced environmental impact, they often pose challenges related to agent productivity and engagement. Therefore, companies are slowly realizing the need to engage their contact center agents to drive high performance in remote and hybrid work models. Gamification is a strategy that incorporates game design elements to improve various aspects within the work environment, including employee onboarding, performance management, and customer interactions. Within contact centers, it plays a vital role in elevating agent engagement and performance levels, ultimately resulting in enhanced customer service and organizational success. In this viewpoint, we examine gamification in the Customer Experience Management (CXM) landscape and recommend how enterprises can transform agent experience from this strategy. Scope All industries and geographies Content In this viewpoint, we examine: Key aspects of a gamified experience ecosystem Challenges and considerations for gamifying the agent experience Road ahead for gamification Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing Sourcing and Vendor Management

Driven by a high degree of digital adoption, FinTechs have established themselves as significant participants in the Banking and Financial Services (BFS) industry. In their pursuit to scale their operations while maintaining their agility and innovation, FinTechs must analyze their operational challenges effectively. With funding levels on the decline and market sentiment shifting toward a wait-and-see approach, particularly amid an impending recession, FinTechs must seek solutions beyond internal capabilities to support their back-office operations. It is essential for FinTechs to concentrate their resources on their core competencies and develop market-differentiating offerings, rather than focusing on day-to-day operations management. In this report, we present a framework to assist FinTechs in mapping their maturity life cycle model to identify the optimal solution mix based on the most pertinent operational challenges at each stage of maturity. Additionally, we define a methodology to select the ideal engagement model based on a FinTech’s capabilities, interests, and maturity stage. Scope Industry: BFS Geography: global Contents In this report, we Analyze the FinTech industry landscape and its significant market trends Explore the parameters required to map FinTechs on a maturity life cycle model Outline the FinTech industry’s operational needs and the associated sourcing implications Define a framework to identify the ideal solution mix and potential third-party engagement models Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

Web 3.0 technologies are revolutionizing the payments industry and driving a major restructuring. As new payment market participants expand their operations, the demand for Business Process Services (BPS) is expected to soar. This shift is fueled by changing consumer behavior, market dynamics, and the constantly evolving technology, infrastructure, and regulatory landscape. Therefore, it is not surprising that providers and enterprises are showing immense interest in the payments market. In this report, we explore the evolving payments ecosystem and the disruptive trends surrounding recession, geopolitical conflicts, digital adoption, sustainability, and innovation. We also discuss the processes that are likely to experience an increase in outsourcing demand in the near term such as transaction screening, fraud detection, chargeback, and dispute management. Additionally, the report covers technologies such as blockchain, metaverse, Artificial Intelligence (AI) / Machine Learning (ML), Application Programming Interface (API), Real Time Payments (RTP), and quantum computing, along with some of the major challenges faced by industry participants. It also offers a comprehensive overview of the payments solution landscape and the different delivery models provided by third-party providers. Scope Industry: Banking and Financial Services (BFS) Geography: global Contents In this report, we: Examine the evolving payments landscape and the trends impacting its future  Explore the major challenges that payments industry participants face  Present a framework to understand the various elements of the third-party payments solution landscape Membership(s) Banking Business Process Sourcing and Vendor Management