A combination of regulatory push and market forces is driving the adoption of open banking globally, with the aim to enhance customer experience and reinvent product and business models. Banks are embracing open banking to take a partnership-driven, collaborative approach that provides an ecosystem of lifestyle services to their customers and helps them stay relevant. However, the shift to open banking is beset with challenges due to banks’ legacy IT systems and infrastructure, which are characterized by lower agility, flexibility, and scalability

To enable these firms to realize the full potential of open banking, IT service providers are investing in capabilities such as advisory services, API management, cloud and modern engineering, industry/academia collaboration, and employee certifications on third-party open banking platforms.

In this research, we provide detailed profiles of 24 leading open banking IT service providers featured on the Open Banking IT Services PEAK Matrix® Assessment 2020. Each profile provides a comprehensive picture of the service provider’s service focus, business performance, marque case studies, key Intellectual Property (IP) / solutions, partnerships and domain investments.

Scope

• Industry: Banking and Financial Services (BFS)
• Market segment: open banking IT services
• Geography: global
• Open banking IT service providers: Accenture, Aspire Systems, Capgemini, CGI, Cognizant, Deloitte, DXC Technology, EY, GFT, Happiest Minds, HCL Technologies, Hexaware, IBM, Infosys, LTI, Mphasis, NTT DATA, Softtek, Sopra Steria, TCS, Tech Mahindra, Virtusa, Wipro, and Zensar Technologies

Contents

This report features 24 open banking IT services provider profiles in the global BFS sector and includes:

• An overview of the 24 service providers’ open banking IT services business and offerings – vision, business performance, and key delivery locations
• Client success stories including the business challenges addressed, solution delivered, and impact generated
• An overview of the providers’ open banking IT services domain investments, key Intellectual Property (IP) / solutions, and key partnerships
• Everest Group’s perspective on the strengths and areas of improvement of the 24 service providers

Membership(s)

Banking & Financial Services (BFS) - IT Services (ITS)