Financial Crime and Compliance (FCC) operations are steadily as Banking and Financial Services (BFS) providers reduce operational expenses amid limited budgets. However, they must navigate complex regulations to avoid fines while maintaining a seamless customer experience. Additionally, rising fraud instances have compelled organizations to adopt advanced technology systems that predict and prevent fraud and lower manual intervention. BFS providers must balance these priorities to operate efficiently and compliantly in a dynamic landscape. The demand for end-to-end solutions has led technology, operations, and advisory functions to converge as providers offer comprehensive solution packages for various issues and requirements.
In this report, we analyze FCC operations and providers’ focus areas, strategic investments, strengths, and limitations.
Scope
Industry: BFS
Geography: global
This report is based on data collected by Everest Group’s annual RFI process for the calendar year 2023, interactions with leading FCC operations providers, client reference checks, and a secondary ongoing analysis of the FCC operations market
Contents
In this report, we:
Examine the emerging drivers and challenges enterprises face in FCC outsourcing
Assess the ever-evolving provider landscape and trends
Evaluate the FCC Business Process Services (BPS) market, buyer trends, and partnerships
