Evolving customer preferences, demand for digital and omnichannel experiences, and competition from FinTechs are impacting banks’ digital strategies and transformation initiatives. COVID-19 has significantly accelerated enterprises’ digitalization plans and adoption of new technologies for processes such as digital customer onboarding, paperless underwriting, real-time payments, and real-time cash management.
One of the biggest challenges that the banking industry continues to face is the shortage of technology skills. IT service providers are investing heavily in building banking industry-specific solutions and an engineering talent pool to respond to the evolving demand themes. Enterprises are seeking support from these providers to shift to a platform-based operating model, cloud-first approach, data-value realization leveraging Artificial Intelligence (AI) / Machine Learning (ML), and APIfication.
In this research, we provide detailed profiles of 27 Application and Digital Services (ADS) providers with a global focus that have been featured on Everest Group’s Application and Digital Services in Banking PEAK Matrix® 2021.
This report studies: