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  • Webinar

    May 20, 2025
    Across the BFSI landscape, banks, insurers, and financial institutions are under mounting pressure to reduce costs, enhance customer satisfaction, and remain compliant—all while delivering measurable value in a volatile economic environment. Traditional effort-based service models are quickly becoming outdated as Gen AI and agentic AI drive fundamental transformation across operations. Watch Everest Group experts Ronak Doshi, Partner, Abhimanyu Awasthi, Practice Director, Kriti Gupta, Practice Director, and Sakshi Maurya, Senior Analyst, for a dynamic webinar that explored the emergence of Systems of Action (SoA), a set of intelligent, autonomous platforms integrating data, insights, AI-driven decisions to automatically orchestrate enterprise-wide actions in real time. The discussion unpacked the evolution of traditional systems of record to intelligent systems of action in banking, capital markets, financial crime compliance (FCC), and insurance segments. It also highlighted how SoA builders can combine data activation, decisioning, process orchestration, and execution as the key to unlocking future value in BFSI. As sourcing challenges become more complex, the panel will also delve into how innovation-led, agile partnerships are becoming essential. What questions did the webinar answer for the participants? How will service delivery value measures evolve in the BFSI landscape and beyond? How can systems of action (SOA) builders—encompassing data activation, decisioning, orchestration, and security—be effectively applied within the BFSI sector? In what ways will Gen AI and agentic AI transform processes and reshape the perception of value across IT, tech, ops, and service delivery? What strategies can enterprises, GBS, and providers adopt to effectively articulate and deliver measurable, outcome-driven value? How can stakeholders across IT, tech, ops, and service delivery partner with the broader ecosystem to drive innovation and enhance overall value?
  • Provider Compendium

    April 30, 2025
    Intelligent Document Processing (IDP) products remain vital in enterprises’ automation technology portfolios. It uses AI technologies, such as Optical Character Recognition (OCR), computer vision, Natural Language Processing (NLP), and machine/deep learning, to classify and extract information from structured, semi-structured, and unstructured documents. Generative AI and agentic AI advances are driving providers to enhance their IDP capabilities. IDP integrates with internal applications, systems, and other automation platforms, offering a non-invasive approach. Continuous advances in IDP products result in ongoing improvements in capabilities, features, and functionalities. In the Banking and Financial Services (BFS) industry, the demand for specialized processing solutions is growing due to the document-intensive processes and their substantial presence in the broader IDP market. Since the BFS industry’s highly regulated nature of BFS industry, enterprises must carefully select a reliable and compliant IDP technology provider to successfully implement IDP. This compendium provides accurate, comprehensive, and fact-based snapshots of 29 leading IDP technology providers, including 10 leading BFS-specific IDP technology providers. Each profile includes the provider’s company overview, recent deals and announcements, market adoption and client portfolio mix, product features, and functionalities. Scope All industries and geographies The report examines IDP solutions that are sold on license, regardless of any ongoing business or IT process outsourcing or managed services This assessment is based on Everest Group’s annual RFI process for the year 2024-25, interactions with leading IDP technology providers, client reference checks, and an ongoing analysis of the IDP market Contents In this report, we: Assess providers’ recent deals and announcements Evaluate IDP products’ market adoption Analyze providers’ client portfolio mix and partnerships Examine providers’ product features
  • PEAK Matrix®

    April 01, 2025
    The Banking, Financial Services, and Insurance (BFSI) industry is navigating heightened economic uncertainty, rapid technology innovation, and sophisticated customer demands. In response, BFSI enterprises are turning to specialized IT services firms. These providers offer in-depth domain expertise, tailored solutions, and agile, collaborative delivery models and are emerging as viable challengers to traditional, large-scale providers. These specialists address vital capability gaps in cloud transformation, advanced analytics, product engineering, low-code/no-code platforms, and AI-driven solutions. They deliver precision and responsiveness that are often lacking in larger providers. Their close client engagements foster strategic partnerships that enhance innovation, optimize operational effectiveness, and accelerate market responsiveness. As competition intensifies and regulations evolve, these providers have become indispensable partners, enabling BFSI firms to sustain a competitive advantage, reduce time-to-market, and enhance customer experiences. In this report, we analyze 33 IT service providers as part of the BFSI IT Services Specialists PEAK Matrix® Assessment 2025. Of these, 30 providers are positioned on the BFS assessment and 14 on the insurance assessment. Scope Industry: insurance and financial services Geography: global Contents In this report, we: Assess 33 IT services specialists Position providers as Leaders, Major Contenders, and Aspirants Compare providers’ key strengths and limitations
  • PEAK Matrix®

    March 27, 2025
    Intelligent Document Processing (IDP) products remain vital in enterprises’ automation technology portfolios. IDP uses AI technologies, such as Optical Character Recognition (OCR), computer vision, Natural Language Processing (NLP), and machine/deep learning, to classify and extract information from structured, semi-structured, and unstructured documents. Generative AI and agentic AI advances are also driving providers to enhance their IDP capabilities. The Banking and Financial Services (BFS) industry has shown strong demand for specialized processing capabilities due to numerous document-intensive processes and its significant market presence in the IDP market. IDP products’ advanced capabilities, features, and functionalities further drive this demand. Given the industry’s highly regulated nature, enterprises must collaborate with the right IDP technology providers to successfully implement IDP. In this report, we analyze 29 leading IDP technology providers’ and 10 BFS industry-specific IDP providers’ capabilities on Everest Group’s PEAK Matrix®. This research helps buyers select the right-fit technology providers for their needs and empowers technology providers to benchmark themselves against their competition. Scope All industries and geographies The report focuses on IDP solutions sold on license, regardless of any ongoing business or IT process outsourcing or managed services The report includes leading technology providers in the IDP market and providers that focus on the BFS-specific IDP market Contents In this report, we: Assess leading IDP technology providers and those specializing in BFS-specific IDP processes Position providers as Leaders, Major Contenders, Aspirants, and Star Performers Analyze the technology providers market’s competitive landscape Compare providers’ key strengths and limitations
  • Provider Compendium

    Feb. 14, 2025
    Banking and Financial Services (BFS) firms are increasingly seeking providers that offer integrated front- and back-office solutions to optimize costs, streamline operations, and enhance customer experiences. This provider consolidation trend promotes greater accountability, accelerates time-to-market, and improves overall customer satisfaction. Traditional front- and back-office service providers are evolving, with many providers expanding their capabilities to offer seamless end-to-end solutions across the entire value chain. This report explores the landscape of providers that have successfully integrated their offerings across key banking domains such as retail banking, lending, and payments. Some of these providers have secured large-scale, integrated deals through long-term client relationships, while others are capitalizing on opportunities within the small-to-mid market segment, particularly among FinTechs, where demand for comprehensive solutions is rapidly growing. This shift toward integrated service models is most prominent in North America, the UK, and the APAC region, where BFS enterprises are embracing these offerings to stay competitive and agile in a dynamic market. This compendium provides accurate, comprehensive, and fact-based snapshots of 16 providers providing front-to-back integrated services within the BFS industry. Each profile offers a detailed overview of the provider’s service focus areas, including adoption by geography, industry, buyer size, recent developments and investments, key intellectual property / solutions, and case studies. Scope Services: Integrated BFS operations Industry: BFS Geography: global Contents This report features 16 providers’ profiles and includes: Provider overview: adoption by geography, industry, and buyer size Recent developments: in-house investments (expansion, technology development, and talent development) and external investments (mergers and acquisitions and partnerships) Case studies: examples of the scope of work covering front-to-back integrated services within the BFS industry Proprietary solutions: key IP/solutions in the integrated BFS operations domain Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing Banking Business Process Sourcing and Vendor Management
  • Webinar

    Feb. 04, 2025
    The BFSI (banking, financial services, and insurance) landscape is evolving at an unprecedented pace. This industry is undergoing a seismic shift fueled by rapid technological advancements, evolving customer expectations, increasing regulatory scrutiny, and new business models. Watch our BFSI experts as they uncover how this industry is poised to transform over the next five years. Learn their perspectives on this evolution and pinpoint the opportunities and challenges that lie ahead. Secure your spot today and take a leading role in redefining the future of BFSI. What questions did the webinar answer? How is the BFSI industry expected to evolve in the next five years, and what are the emerging opportunities and challenges? What is the future of BFSI products, customer experiences, and business models? What will the role of AI and other emerging technologies be in redefining BFSI operations and driving innovation? What are the sourcing best practices to incentivize supplier behavior and drive better innovation and governance?
  • Thematic Report

    Jan. 20, 2025
    This Virtual Roundtable Discussion Summary is available only to Outsourcing Excellence members. For information on membership, please contact us   Everest Group regularly organizes virtual sessions with senior executives across industries in which they share their experiences and opinions with industry peers on hot industry topics or particularly challenging issues of the day. In this virtual roundtable, Everest Group executives explored forward-thinking technology and operation priorities in BFSI, such as cost, AI adoption, and future challenges. This forum is a prime opportunity to connect with experts, ask questions, and gain valuable perspectives from peers. In this session, participants discussed how 2024 was concluding and their plans for 2025. The following topics were addressed: What cost-saving targets are set for the next year? How are participants factoring in AI’s benefits and costs? How should investment budgets and expected challenges be planned for?
  • Thematic Report

    Dec. 23, 2024
    Our Banking Global Sourcing Adoption Trends report presents fact-based data and analysis on key trends and developments in global outsourcing for the banking industry. The report examines key developments in offshore locations leveraged for service delivery, the level of offshore/nearshore penetration and sourcing mix, global sourcing maturity, and emerging themes in the industry. Additionally, it identifies opportunities, implications, and challenges for providers and enterprises in the next normal. Scope Industry: Banking Geography: global Contents In this report, we examine: Key global sourcing trends in the banking industry Value chain processes employed in the banking industry Leading offshore locations leveraged for service delivery Offshore penetration and sourcing mix across key functions, including banking operations, corporate functions (Finance & Accounting (F&A), HR, and procurement), and digital services such as analytics, automation, Artificial Intelligence (AI) / Machine Learning (ML), cloud, Internet of Things (IoT), and blockchain Global sourcing maturity across key functions, including banking operations, IT services, digital services, and corporate functions Emerging themes in the banking industry, including Decentralized Finance (DeFi) exploration, navigating the rise of Banking-as-a-Service, challenges driving Customer Experience Management (CXM) outsourcing, mitigating tech adoption hurdles, and notable next-generation technology solutions Membership(s) Market Vista™ Sourcing and Vendor Management
  • Viewpoint

    Dec. 06, 2024
    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
  • PEAK Matrix®

    Nov. 07, 2024
    Banking and Financial Services (BFS) firms are increasingly seeking providers that offer integrated front- and back-office solutions to optimize costs, streamline operations, and enhance customer experiences. This provider consolidation trend promotes greater accountability, accelerates time-to-market, and improves overall customer satisfaction. Traditionally distinct front- and back-office service providers are evolving, with many providers expanding their capabilities to offer seamless end-to-end solutions across the entire value chain. This report explores the landscape of providers that have successfully integrated their offerings across key banking domains such as retail banking, lending, and payments. Some of these providers have secured large-scale, integrated deals through long-term client relationships, while others are capitalizing on opportunities within the small-to-mid market segment, particularly among FinTechs, where demand for comprehensive solutions is rapidly growing. Regionally, this shift toward integrated service models is most prominent in North America, the UK, and the APAC region, where BFS enterprises are embracing these offerings to stay competitive and agile in a dynamic market. In this report, we analyze 18 leading providers featured on the Experience-driven Integrated BFS Operations PEAK Matrix® Assessment 2024. Scope Geography: global Industry: market activity and investments of 18 providers providing front-to-back integrated services within the BFS industry Services: integrated BFS operations Contents In this report, we: Assess 18 integrated BFS BPS providers Position the providers on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants Compare providers’ key strengths and limitations Memberships Banking Business Process Customer Experience Management (CXM) Services, including Contact Center Outsourcing CX Excellence Sourcing and Vendor Management