Global Hotspots – Analytics in BFSI

28 May 2019
by Aditya Verma, Ranjith Reddy, Pagalam Rajeshwaran

BFSI analytics services has gained huge traction over the last few years as a result of the great surge in data availability through proliferation of multiple digital touch points in the industry. Therefore, the BFSI companies feel a need to leverage analytics to make data-driven business decisions to stay competitive. While traditional analytics services, such as reporting and descriptive analytics, have become mainstream for most companies, there is an increased traction for advanced analytics services, such as predictive and prescriptive analytics, especially in the customer, risk, and fraud analytics.

There is a huge-demand supply gap in terms of available relevant talent for analytics, especially advanced services. While, there has been an increase in the specialist analytics courses being offered by various educational institutions over the last few years, the talent gap continues to exist. This, coupled with emphasis of BFSI companies on analytics for accelerated time-to-market and innovation, is causing a shift toward skill-centric hiring, stressing the need for global sourcing and a diverse locations portfolio.

This report provides a perspective on the global sourcing market for analytics services in BFSI and identifies the top locations for sourcing analytics delivery globally, considering the cost-talent tradeoff. Key topics covered in the report are:

  • Analysis of the global landscape and current distribution of analytics talent in BFSI across key locations in offshore/nearshore delivery geographies
  • An assessment of the comparative value proposition of leading locations for BFSI analytics services, in terms of talent availability and financial attractiveness
  • The report also provides relative attractiveness of key nearshore/offshore locations that deliver analytics services for the BFSI domain through the PEAK Matrix™ assessment, which segregates delivery locations into “Leaders,” “Major Contenders,” and “Aspirants,” based on their cost-talent-risk value proposition in the analytics services delivery industry
  • Implications for industry stakeholders with regard to the adoption of analytics services in BFSI

The scope of the analysis includes four analytics segments in BFSI – reporting, descriptive, predictive, and prescriptive, across nearshore/offshore locations.

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