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.
In this research, we analyze the global Banking BPS service provider landscape. We focus on:
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 and Financial Services (BFS) - Business Process Outsourcing (BPO)