Banking BPO Annual Report 2016: Riding on the Digital Wave and Advancing in Automation

30 Sep 2016
by Manu Aggarwal, Rajesh Ranjan, Robin Jain

Banks are currently in a state of change as they are being challenged by a multitude of macroeconomic, regulatory, and other factors certain to alter their course. Service providers can support banks in these tough times by offering their domain expertise and leveraging technology and process efficiency.

The US$3.8 billion banking BPO market represents a significant opportunity with 7-10% anticipated CAGR. As traditional sources of labor arbitrage and efficiency fade away, providers look for newer opportunities by aiding in the delivery of more complex processes. Robotic Process Automation (RPA) can provide a business case for service providers to fix banks' broken systems temporarily, while continuing to aid their transition to new-age systems in the longer run.

In this study we analyze the global banking BPO market in 2015. We focus on:

  • State of the banking industry
  • Market size and buyer adoption
  • Banking services solution characteristics across LoB adoption, technology model, automation leverage, analytics, and global sourcing
  • Banking BPO service provider landscape, covering service providers’ market share and presence in various geographies

Scope of analysis

  • Over 500 banking BPO contracts signed as of 2015
  • Coverage across 17 banking BPO service providers including Avaloq, Capgemini, Cognizant, Concentrix, CSC, EXL, Genpact, HCL, Infosys, Intelenet, Sutherland Global Services, Syntel, TCS, Tech Mahindra, Wipro, WNS, and Xerox


This report assists key stakeholders (buyers, service providers, and technology providers) in understanding the changing dynamics in the banking BPO market and identifying recent trends and future outlook. In this backdrop, this report provides comprehensive coverage of the global banking BPO market including detailed analysis of market size & growth, buyer adoption trends, solution characteristics, and service provider landscape. Some of the findings in this report are:

  • Banking BPO is poised to grow at a steady pace, driven by increasing adoption of technology and automation
  • Traditional banking faces pressures from FinTechs, telcos, retailers, etc., demanding the much needed innovation
  • Macroeconomic environment, regulatory concerns, changing consumer preferences, and growth in adoption of automation, analytics, and risk management services are some of the key factors influencing the market
  • Among the service providers covered by Everest Group, TCS, Genpact, and Xerox continue to dominate the banking BPO market


Banking, Financial Services & Insurance (BFSI) - Business Process Outsourcing (BPO)


Page Count: 61