Know Your Customer – Anti-Money Laundering Business Process Outsourcing is slowly becoming a major focus area for most financial institutions (FIs). Increasing sophistication of money laundering activities, followed by an increasing severity of repercussions of being non-compliant with regulations, is causing a strain on FIs. They are finding it difficult to keep their operating costs low with the increase in complexity of screening and monitoring activities, and overheads such as training costs, technology infrastructure upgrades, and hiring costs. FIs are looking for ways to stay compliant with the latest regulations, and at the same time optimize their costs.

Such a scenario creates a big opportunity for the service providers to tap into. Capabilities in both KYC and AML, along with a diverse geographical presence, will help service providers gain traction in this segment. FIs are looking for service providers who can provide the latest technology and expertise at the same time

Scope and Methodology

In this research, we analyze the global KYC-AML BPO service provider landscape. We focus on:

• Relative positioning of 19 service providers on Everest Group’s PEAK Matrix for KYC-AML BPO
• Analysis of service providers’ market share
• Service provider comments

Content

TThis report examines the global KYC-AML BPO market and its service provider landscape. It provides detailed analysis of the vision and capabilities, as well as market impact 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 KYC-AML BPO service provider landscape.

• Genpact, TCS, and Wipro emerged as Leaders
• Major Contenders include Accenture, Cognizant, Exela Technology, EXL, Intelnet, HCL Technologies, Infosys, KPMG, Mphasis, NTT Data, PwC, Sutherland Global Services, and WNS
• Capgemini, DXC Technology, and Syntel are Aspirants on the PEAK Matrix for banking BPO
• Exela Technology, TCS, and Wipro are the three largest KYC-AML BPO service providers by revenue
• Mphasis, NTT Data, TCS, and Wipro together account for over 50% of the total growth (2016-2017) of the KYC-AML BPO market by revenue
• North America is the largest buyer geography, followed closely by the United Kingdom

Membership(s)

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