Banking BPS – Service Provider Landscape with Services PEAK Matrix™ Assessment 2019

12 Jul 2019
by Manu Aggarwal, Robin Jain, Rohit Sharma

Banking BPS market is quite mature, as clients have high confidence in service providers, especially in markets such as the United States and the United Kingdom. Europe and the emerging geographies such as Asia Pacific, as well as small and mid-sized banks are expected to drive growth in the future. Advancements in technology and growing adoption of the digital channels is disrupting the traditional banking value chain. Digital is no longer a buzzword but has become an essential component of the present and future service delivery. Service providers need to adapt their offerings and value proposition to these changes in the industry.

The banking BPS market has been able to continually grow by helping clients in adapt to new client processes and reinvent themselves. Automation and analytics continue to grow in importance, with service providers promising a reduction in the degree of manual effort to their clients. The industry is expected to continue evolving as service providers move to a co-creation model to combine, package, and offer services for the banking industry, providing value beyond cost savings. Meanwhile, enterprises will need to take a carefully considered approach to outsourcing and select service providers that can become partners in their transformation journey, driving better customer experience, process improvements, and cost savings.

Scope and Methodology

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

  • Relative positioning of 30 service providers on Everest Group’s PEAK Matrix for Banking BPS
  • Service provider market impact
  • Service provider vision and capability assessment across key dimensions
  • Everest Group comments about service providers

Content

This report examines the global banking BPS market and its service provider landscape. It provides detailed analysis of the capabilities and market performance of service providers and their relative position on the Everest Group PEAK Matrix. It will assist key stakeholders (banks, service providers, and technology providers) understand the current state of the banking BPS service provider landscape.

  • Banking BPS PEAK Matrix 2019 positioning is as follows:
    • Leaders: There are five service providers in the Leaders category – Cognizant, HCL Technologies, Genpact, TCS, and Wipro
    • Major Contenders: The Major Contenders category has nineteen service providers – Accenture, Avaloq, Capgemini, Concentrix, Conduent, Datamatics, DXC, Exela technologies, EXL, Firstsource, FIS, IBM, Infosys, Mphasis, NTT Data, Teleperformance, Sutherland Global Services, Tech Mahindra, and WNS
    • Aspirants: Atos Syntel, CGI, Conneqt, Equiniti, NIIT Technologies, and Virtusa are Aspirants on the PEAK Matrix for banking BPS
    • Cognizant, Genpact, HCL Technologies, Tech Mahindra, and Wipro are Star Performers on the banking BPS Everest Group PEAK Matrix for 2019
  • Market share assessment of 30 service providers by
    • Revenue
    • Revenue growth
    • Line of business
    • Geography (signing region)
    • Buyer size
  • Everest Group’s assessment for 30 service providers

Membership(s)

Banking and Financial Services (BFS) - Business Process Outsourcing (BPO)

 

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