The global sourcing model for delivering retail and commercial banking services has been adopted by banks of different sizes and from different regions. It has now reached a state of maturity across large banks of more than US$50 billion revenue. These banks were the leading adopters of this model. However, smaller-sized banks are still developing and honing their offshoring strategies. The growth of GIC setups has been taking place to the tune of ~2.5% per annum over the past few years; however, this market has undergone many transformations in terms of growth leaders, strategies and location shifts.
Within this industry, there are differences within banks in terms of offshoring of industry-specific processes from the perspectives of scale and breadth of work. Additionally, forays are being made by offshore banking GICs in IT application development and analytics for retail and commercial banking, specifically.
This report provides an assessment of the current landscape of this industry from the point of view of GICs as well as next-generational changes such as development and adoption of new technologies (service delivery automation and mobility solutions), transformations in the sourcing models, and offshoring of complex processes.
Scope and contents
This report provides Everest Group’s perspectives on GICs delivering retail and commercial banking services as well as their evolution & transformation across various themes. The report discusses:
Note: this report is from 2012. See our most recent R2R research report.
The Finance & Accounting (F&A) function comprises three end-to-end processes – Procure-to-Pay (P2P), Order-to-Cash (O2C), and Record-to-Report (R2R). This report focuses on…