Banking BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2016

29 Jun 2016
by Manu Aggarwal, Rajesh Ranjan, Robin Jain


The Banking BPO landscape is undergoing a significant shift with Robotic Process Automation (RPA) disrupting the norm. The impact of RPA is higher in rule-based transactional activities, especially in the lines of businesses such as cards and retail. As more and more transactional activities get automated, service providers are looking for new avenues of growth such as more judgment-intensive offerings and utility-driven solutions.

Buyers are now looking towards service providers to deliver more than just cost savings. The service providers’ role has been broadened from a cost-reducing entity to an enabler of transformation through technology and innovation.

Leading service providers are reacting to this changed demand by increasing their investments in RPA initiatives. Moreover, the service providers need to take a more consultative approach and move up the value chain by emphasizing on the value addition they can bring. At the same time, buyers need to push the service providers more aggressively to implement RPA offerings sooner than later and identify other strategic areas that they can outsource.


Scope and methodology

In this research, we analyze the global banking BPO service provider landscape. We focus on:

  • Relative positioning of 24 service providers on Everest Group’s PEAK Matrix for banking BPO
  • Analysis of service providers’ market shares
  • Service provider comments



This report will assist key stakeholders (financial institutions, service providers, and technology providers) understand the changing dynamics of the banking BPO service provider landscape. It will also help them identify market Leaders, Major Contenders, and Aspirants for 2016. This report provides detailed analysis of the service provider market share, relative position on the Everest Group PEAK Matrix, capability assessment, and Everest Group’s remarks on the service providers highlighting their key strengths and development areas.

Some of the findings in the report are:

  • Genpact, TCS, and Wipro emerged as Leaders
  • Accenture, Avaloq, Capgemini, Cognizant, Concentrix, CSC, Equiniti, EXL, HCL, HPE, IBM, Infosys, Intelenet, Mphasis, Sutherland Global Services, Tech Mahindra, WNS, and Xerox emerged as Major Contenders
  • NIIT Technologies, Polaris, and Syntel are Aspirants on the PEAK Matrix for banking BPO
  • TCS is the largest banking BPO provider by revenue, while Xerox has the highest number of clients
  • CSC, EXL, and Wipro witnessed a service line growth of over 15% by revenue
  • Genpact and TCS have a dominating presence across most banking BPO lines of businesses (LoBs)
  • While lending is the most competitive segment, competitive intensity among retail banking and cards LoBs has also started to increase
  • Genpact and TCS are the largest market players in all geographies except Continental Europe, which is dominated by Avaloq

Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report.


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