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  • NEW
    Thematic Report

    July 15, 2025
    Private Equity (PE) firms are navigating a shifting landscape marked by rising borrowing costs, regulatory pressures, and evolving limited partner expectations. In response, general partners are emphasizing creating operational value over traditional financial engineering. IT and BPS have become central to this strategy, enabling faster transformation, scalable operations, and enhanced reporting. The report highlights how PE firms are embedding digital, AI, ESG, and cloud capabilities across the investment life cycle, from diligence to exit, to accelerate returns and differentiate in a competitive fundraising environment. With deal execution slowing, creating value within portfolio companies has become a top priority. This report examines demand trends across sectors such as healthcare, SaaS, FinTech, and industrial technology, where digital readiness and regulatory momentum drive investments. It also outlines emerging PE models and offers practical guidance for providers to build scalable, outcome-linked solutions that align with PE firms’ unique strategies. Through sector-specific insights and a PE value impact framework, the report provides actionable strategies to navigate today’s complex market dynamics.
  • NEW
    State of the Market

    July 15, 2025
    Capital market firms face pressure from limited revenue growth, rising costs, and stringent regulatory mandates. Despite margin constraints, these firms are investing selectively in technology areas such as algorithmic trading platforms, AI-driven analytics, cloud-native platforms, security operations centers, and real-time data pipelines to improve efficiency, resilience, and client experience. This report explores enterprise priorities across key capital markets segments including equities, fixed income, derivatives, and asset management. It examines how generative AI is reshaping trading strategies and how cloud adoption is enabling scalable data architectures. The report also reviews cybersecurity challenges linked to digital asset custody and real-time settlement, as well as how firms are addressing them. Regional insights cover regulatory drivers such as MiFID II updates in Europe, DORA compliance, T+1 adoption in the US, and digital exchange developments in APAC. The report assesses how IT providers are aligning their portfolios to deliver specialized capital market IT solutions. Examples include low-latency market data distribution, algorithmic trading engine modernization, AI-driven risk management platforms, and post-trade reconciliation automation. It also highlights the importance of domain expertise and integrated managed services in meeting evolving enterprise expectations. As outsourcing activity stabilizes after a period of caution, the report outlines growth opportunities for 2025 and beyond – including managed platform services, automation-led transformation, and data-as-a-service offerings.
  • Provider Compendium

    June 27, 2025
    The Banking, Financial Services, and Insurance (BFSI) industry is navigating heightened economic uncertainty, rapid technology innovation, and sophisticated customer demands. In response, 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-/no-code platforms, and AI-driven solutions. They deliver precision and responsiveness that larger providers often lack. 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 present detailed profiles of 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. Each profile offers a comprehensive picture of the provider through a snapshot of its operational overview, delivery presence, solutions on offer, investments, and market success.
  • State of the Market

    June 06, 2025
    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
  • Thematic Report

    May 28, 2025
    The report examines the evolution of connected banking through the lens of physical AI – autonomous, intelligent devices capable of executing financial services in real time. As financial institutions look beyond traditional channels, physical AI opens new frontiers where everyday objects, such as smart appliances, vehicles, and industrial systems, become financial endpoints. This transition accelerates the emergence of banking-as-a-lifestyle, in which banking is seamlessly woven into customer experiences, enabled by AI-driven touchpoints and embedded decision-making. The report delves into the market forces propelling this shift, from advances in edge computing and AI frameworks to the growing consumer demand for convenience and personalization. It outlines how banks must rethink their products, infrastructure, and partnerships to remain relevant and provides a roadmap to operationalize physical AI, from strategy and governance to ecosystem integration and risk management. Real-world use cases in smart homes, connected cars, and autonomous supply chains demonstrate how financial institutions can lead the next wave of transformation by embedding services into device-driven interactions. Scope Geography: global Industry: banking and financial services Contents The report explores: How physical AI is reaching real-world autonomy Banking-as-a-lifestyle as the next frontier Smart devices as new transaction channels Embedding banks into lifestyle ecosystems Physical AI and connected banking enabling autonomous financial services Strategic and operational imperatives to scale physical AI
  • Provider Compendium

    Dec. 27, 2024
    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
  • State of the Market

    Dec. 27, 2024
    The impact sourcing ecosystem is rapidly expanding due to the growing interest in sustainable and socially responsible business practices. Enterprises and providers are increasingly incorporating diverse and underserved talent into their operations due to cost efficiency, access to specialized talent, and alignment with ESG and SDG objectives. Traditional providers dominate hiring volumes, while specialists see steady growth in revenue and headcount as they refine talent initiatives and partner with NGOs and educational institutions. Buyers recognize the dual value of cost benefits and corporate citizenship, advocating for more robust reporting and impact sourcing policies’ disclosure. In response, providers are investing in enhanced training programs, certifications, and technology upskilling, enabling impact workers to transition to more complex, higher-value roles. Despite generative AI’s disruptive potential concerns, agentic AI emerges as a promising tool to empower the impact workforce. Key market trends include the CXM industry’s increasing contribution to impact sourcing revenue, growing adoption of impact workers in MEA and APAC regions, and alignment with regulatory frameworks promoting fair labor practices. Governments support impact sourcing through incentives and regulations, while providers adopt inclusive hiring strategies and offer tailored employee support to complement workforce diversity and drive social impact. In this report, we explore macroeconomic drivers, buyer feedback, and generative AI’s influence on the impact sourcing space. Africa stands poised to lead the global impact sourcing growth, showing this approach’s transformative potential in fostering a purpose-driven and sustainable business landscape. The report aims to enable enterprises and providers to incorporate impact sourcing and other inclusive talent management strategies in their organizations. Scope Broad industry with a focus on impact sourcing talent strategy Geography: global Impact sourcing programs of both impact sourcing specialists and traditional service providers This report is based on primary and secondary data collection, conversations with market participants (buyers, outsourcing service providers, and impact sourcing specialists), and fact-based research Contents In this report, we analyze: The concept of impact sourcing and the comprehensive impact sourcing market landscape, including market size, trends, and talent portfolio Impact sourcing’s talent management practices across the hire-to-retire cycle Buyers’ take on impact sourcing Impact sourcing engagement case studies Technology’s role on the impact sourcing market and the future of impact sourcing programs Memberships This Market Report is available to All Memberships
  • Provider Recognition

    Nov. 18, 2024
    The Everest Group Leading 50™ Core Banking Technology Providers report ranks leading technology providers in the retail and commercial banking industry. The ranking evaluates providers based on key parameters, including revenue and customer base, module coverage across retail and commercial banking, innovation and investment in AI and SaaS, and client geographic mix. With the global core banking industry undergoing transformation, this report offers key insights into market dynamics, regional trends, and technology advances. It examines core banking’s transformation through the Customer-centricity, Operational agility, Regulatory alignment, and Ecosystem innovation (CORE) framework, highlighting how SaaS adoption and AI integration are reshaping the industry. The report also analyzes how pivotal hyperscaler partnerships are in accelerating innovation and SIs’ increasing importance in managing complex core banking transformations. This comprehensive analysis is a resource for banks evaluating technology providers, helps providers benchmark themselves against peers, and offers insights for financial institutions exploring core banking modernization. By examining current trends and future outlook regarding AI integration, SaaS adoption, and ecosystem partnerships, this report provides a roadmap for success in the evolving core banking technology landscape. Scope Industry: core banking technology Geography: global Contents In this report, we examine: Leading 50™ core banking technology providers The research background, methodology, and scope Core banking technology growth drivers and market size Leading 50™ core banking technology providers’ geographical distribution Recognitions for core banking technology providers Industry cloud partnerships for core banking innovation The core banking space’s future with SaaS AI and core banking convergence Key investors shaping the core banking technology landscape SIs’ role in core banking transformation Implications for core banking technology providers The CORE framework of the new normal in core banking Membership(s) Banking Information Technology Sourcing and Vendor Management
  • Provider Compendium

    Aug. 12, 2024
    The financial services industry is transforming across open banking, capital markets, and Private Equity (PE) sectors due to technology advances, regulatory changes, and evolving market demands. This compendium series examines how these sectors adapt to digital innovation and strategic shifts to efficiency and security. Open banking innovations and regulations enhance customer experiences, foster innovation, and create new revenue through API ecosystems and data analytics. Capital markets leverage AI, ML, and blockchain to improve predictive analytics, automate trading, and ensure regulatory compliance. In PE, IT services drive value creation and operational excellence using AI, cloud computing, and data analytics. This compendium provides comprehensive and fact-based snapshots of 43 capital markets, open banking, and PE providers. Each profile offers a detailed overview of the provider’s vision, services, delivery footprint, practice size and scale, presence, investments, key solutions/IP,
  • PEAK Matrix®

    July 03, 2024
    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