Banks are navigating a complex environment of revenue pressures, cost challenges, and rising regulatory and security demands. Despite a slowdown in growth, they remain committed to targeted IT investments in customer experience, AI, cybersecurity, cloud, and modernization to enhance efficiency, resilience, and competitiveness. This report examines how enterprise technology priorities are shifting across key Lines of Business (LoBs) – retail banking, commercial banking, payments, and lending – with a growing focus on AI-led transformation, digital workflows, and automation. It also explores regional developments, particularly in Europe and the UK&I, where PSD3, ESG mandates, and real-time payments are reshaping the banking technology agenda. Cybersecurity is gaining further prominence as banks move away from fragmented controls toward more integrated and scalable security strategies. At the same time, core and horizontal technology providers are enabling platform-driven modernization and process transformation. These shifts are mandating providers to align their capabilities with evolving enterprise priorities, including domain-specific innovation, regulatory alignment, and outcome-based delivery. While outsourcing softened in 2023-24, the report outlines how a cautious recovery is expected in 2025 as banks reassess sourcing models to support long-term transformation goals. Scope Geography: global Industry: banking and financial services Contents In this report, we examine: Evolving enterprise technology priorities and spend areas Regional trends in the UK&I and Europe regions Themes driving growth opportunities across banking LoBs Customer experience as a core digital transformation priority Increasing AI adoption across banking value chains Strengthening data security amid rising digital fraud Technology providers’ role in enabling modernization

Backbase’s AI-powered banking platform represents a strategic shift in how banks embed AI across their operations. This Technology Launch Perspective explores the enterprise context behind Backbase’s launch, including demand for unified data layers, real-time decision-making, and AI-driven personalization. As banks push to operationalize AI, the platform’s Intelligence Fabric, agentic AI capabilities, and embedded AI Factory aim to deliver measurable outcomes in customer engagement, employee enablement, and productivity. The report also identifies execution risks tied to integration with legacy core systems, platform scalability, and enterprise-grade governance – key factors for financial institutions operating under strict regulatory frameworks. While Backbase offers an advanced product suite, the report calls for greater clarity around transparency mechanisms, scalability metrics, and implementation maturity to enable broader enterprise adoption. Scope Geography: global Industry: banking and financial services Contents The report examines: Key enterprise demand themes/determinants, issues, and objectives Backbase’s announcements, current positioning, and offerings’ alignment Everest Group’s review of Backbase’s product announcements

Banks worldwide are raising interest rates to combat inflation, shifting away from the low-rate environment of the past decade. This change has reduced loan demand and strained profitability while intensifying competition with FinTechs, changing consumer expectations, and stricter regulations. To adapt, banks are investing in technology to streamline operations, automate processes, and improve customer experiences. Lending technology providers are supporting these efforts by developing advanced platforms and integrating next-generation technologies to improve the lending process. This compendium provides comprehensive and fact-based snapshots of 21 consumer Loan Origination Systems (LOS) providers. Each profile offers a detailed overview of the provider’s vision for consumer LOS offerings, product offerings, capabilities, buyer size and scale, presence, investments, and case studies. The report will enable providers to benchmark their capabilities against their peers and empower enterprises to assess providers based on their capabilities. Scope Industry: Banking and Financial Services (BFS) Geography: global This assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading technology and IT service providers, client reference checks, and an ongoing analysis of the consumer LOS product market Contents In this report, we: Classify providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Offer an overview of the providers’ consumer LOS product offerings and strategies Examine consumer LOS case studies Membership(s) Banking Information Technology Sourcing and Vendor Management

The Indian Banking, Financial Services, and Insurance (BFSI) sector is rapidly evolving, driven by innovation and regulatory compliance. This viewpoint examines key technology trends reshaping the industry, including AI, cloud computing, blockchain, and automation, which are enabling firms to enhance customer experience, optimize operations, and meet regulatory requirements. However, challenges such as legacy system integration, data privacy concerns, and a shortage of skilled talent continue to slow digital transformation. As firms invest in next-generation technologies and forge strategic partnerships, the Indian BFSI sector is well-positioned to compete globally and deliver innovative, customer-centric financial services. Looking ahead, modernization, regulatory compliance, and emerging technologies will be vital for sustained growth in this competitive market. Scope  Industry: BFSI Geography: India Contents  In this report, we provide: An overview of technology trends in the Indian BFSI market An analysis of the regulatory landscape and its impact on BFSI firms’ technology investments An evaluation of adoption maturity and drivers for various technology themes A deeper look at challenges and obstacles that Indian BFSI firms face as they expand their technology estate Membership(s) Banking Information Technology Sourcing and Vendor Management

The wealth management industry is evolving to meet emerging trends and client demands. To manage costs and boost revenue, firms are introducing new products, expanding into new regions, and enhancing advisor platforms to improve productivity and service delivery. AI is a key focus, with investments in AI-driven advisory platforms, predictive analytics, and conversational AI to provide more accurate, timely, and personalized advice. Firms are also leveraging hyper-personalization to tailor recommendations to clients' unique needs. The industry is adapting to the multigenerational wealth transfer as baby boomers pass assets to Gen Z, requiring new strategies to address diverse preferences. Additionally, technology transformation is driving operational efficiency and growth, while demand grows for innovative products such as ESG-focused investments, digital assets, and cryptocurrencies, reflecting changing investor values. This compendium provides detailed, fact-based snapshots of 17 wealth management technology providers. Each profile outlines the provider’s vision, capability, and market impact, helping providers benchmark their capabilities against peers and enabling enterprises to assess the providers based on their desired 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 Membership(s) Banking Information Technology Sourcing and Vendor Management

The financial landscape is shifting due to aggressive rate hikes and intensified competition from FinTechs. In response, the consumer loan origination systems industry is prioritizing innovation to maintain bank profitability and adapt to changing consumer demands. In this report, we analyze 24 providers in the consumer loan origination systems industry featured on Everest Group’s proprietary PEAK Matrix® framework based on their capabilities and offerings. This report analyzes how banks streamline lending operations through technology investments that enhance efficiency and reduce costs. The report examines lending technology providers’ role in supporting these initiatives by building platforms incorporating next-generation technologies, thus enhancing the lending experience. The analysis covers how these technologies help banks manage profitability and regulatory compliance challenges while offering personalized customer services to navigate the competitive financial technology landscape. Scope Industry: BFS Geography: global This assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading technology providers, client reference checks, and an ongoing analysis of the open banking IT services market Contents In this report, we: Examine key trends in the consumer loan origination systems industry Position the providers on Everest Group’s proprietary PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants Evaluate the consumer loan origination system providers’ landscape Compare providers’ key strengths and limitations Membership(s) Banking Information Technology Sourcing and Vendor Management

The open banking landscape is transforming due to regulatory mandates, technical advances, and dynamic consumer expectations. Financial institutions invest in open banking solutions to enhance customer experiences, foster innovation, and maintain a competitive edge. This transformation emphasizes the need for improved data security, regulatory compliance, and personalized financial services. Providers offering API management, microservices architecture, data integration, and security frameworks lead this transformation. These solutions deliver seamless and secure customer experiences, drive innovation through FinTech partnerships, and create new revenue streams. Providers are building API-driven ecosystems to facilitate real-time connections with third parties, enhancing operational efficiencies and customer flexibility. As the open banking market matures, there is a growing emphasis on data monetization, leveraging advanced analytics for risk management and regulatory compliance, and exploring embedded finance opportunities. In this report, we analyze 31 open banking IT service providers featured on Everest Group’s proprietary PEAK Matrix® framework. Scope Industry: Banking and Financial Services (BFS) Geography: global This assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading technology and IT service providers, client reference checks, and an ongoing analysis of the open banking IT services market Contents In this report, we: Examine key trends in the open banking IT services industry Position the providers on Everest Group’s proprietary PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants Compare providers’ key strengths and limitations Membership(s) Banking Information Technology 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

The BFSI industry is showing great interest in using generative AI as part of its technology ecosystem. Offering enhanced fraud detection, personalized Customer Experience (CX), and robust risk assessment, generative AI is set to significantly impact various aspects of the BFSI value chain. In this report, we examine the key factors driving generative Al’s adoption in the BFSI industry. We elaborate on how it can help achieve business objectives and gain a competitive advantage in various business operations across BFSI firms. We also examine contemporary implementations and real-world examples of gen Al adoption in the industry. The report also presents a framework for prioritizing use cases to enable organizations to identify the most impactful applications of gen Al across banking, capital markets, and insurance, as well as looks at the initiatives of technology and service providers operating in this domain. Scope Industry: BFSI Geography: global Technology: generative AI Contents In this report, we share: An overview on trends, adoption drivers, and challenges related to generative AI in the financial services industry A framework to assess and prioritize gen AI use cases across the financial services value chain Potential risks associated with the adoption of gen AI in the financial services sector, mitigation strategies, and best practices to address these risks and ensure the responsible and ethical deployment of gen AI Trends related to gen AI-related talent acquisition, training, and upskilling, as well as the associated costs and investment considerations An industry landscape covering the technology and service providers specific to gen AI in BFSI Membership(s) Banking and Financial Services Information Technology Insurance Information Technology Sourcing and Vendor Management

The lending industry is evolving rapidly, with a focus on technology to enhance efficiency and user experience, while reducing costs. AI and predictive analytics are streamlining approval processes and offering deeper customer insights. In response to challenges such as rising delinquencies, lenders are implementing flexible online payment tools. Additionally, innovative products such as green mortgages and Buy Now Pay Later (BNPL) services address modern consumers’ demands. In recent times, the adoption of API-driven ecosystems is enhancing customer experiences, particularly in mortgage and auto financing. Providers are partnering with technology leaders and FinTechs, with a focus on themes such as generative AI and alternative data in underwriting to stay at the forefront of the lending industry’s transformation. This Provider Compendium features comprehensive and fact-based snapshots of 28 providers mapped on the Lending IT Services PEAK Matrix® Assessment 2023. Each profile offers a comprehensive view of the provider’s vision and strategy, practice size and scale, 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: Banking and Financial Services (BFS) Geography: global The assessment is based on Everest Group’s annual RFI process for calendar year 2023, interactions with leading technology and IT services providers, client reference checks, and ongoing analysis of the lending IT services market Contents In this report, we evaluate 28 lending IT service providers’ profiles, including: Key trends in the lending space Classification of the providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework A summary dashboard on the providers’ market impact and vision and capabilities An overview of the providers’ lending 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’ lending IT services investments, key solutions/IP, and partnerships Key lending IT services case studies Strengths and limitations Membership(s) Banking Information Technology Outsourcing Excellence