The Banking, Financial Services, and Insurance (BFSI) industry is the largest employer of the offshore/nearshore Global Business Services (GBS) delivery model, employing approximately 35% of the total GBS Full Time Equivalents (FTEs) across 500+ centers. The industry heavily leverages the GBS model to deliver functions such as Business Process Services (BPS), Information Technology (IT), and digital services (e.g., analytics, cloud, cybersecurity), among others.
Following the pandemic, BFSI enterprises have increasingly adopted the GBS model to go beyond the usual delivery of transactional services and drive digital transformation for the enterprise. Dedicated Centers of Excellence (CoEs) are being set up at these GBS centers to capitalize on the deep domain and technical skills at these locations.
This research leverages Everest Group’s rich proprietary GBS database – the industry’s most comprehensive database on GBS centers – and studies BFSI GBS centers that provide offshore/nearshore delivery of global services. The report will be relevant for a broad set of stakeholders – buyers / parent organizations, service providers, GBS organizations, and industry influencers, such as investors and industry bodies.
• Industry: BFSI
• Geography: global, with focus on India and Nearshore Europe
• This report studies BFSI GBS centers that provide offshore/nearshore delivery of global services. It excludes shared service centers that service domestic operations
In this report, we study: