Evolving customer preferences, demand for digital and omnichannel experiences, and competition from FinTechs are impacting banks’ digital strategies and transformation initiatives. COVID-19 has significantly accelerated enterprises’ digitalization plans and adoption of new technologies for processes such as digital customer onboarding, paperless underwriting, real-time payments, and real-time cash management.

One of the biggest challenges that the banking industry continues to face is the shortage of technology skills. IT service providers are investing heavily in building banking industry-specific solutions and an engineering talent pool to respond to the evolving demand themes. Enterprises are seeking support from these providers to shift to a platform-based operating model, cloud-first approach, data-value realization leveraging Artificial Intelligence (AI) / Machine Learning (ML), and APIfication.

In this research, we provide detailed profiles of 27 Application and Digital Services (ADS) providers with a global focus that have been featured on Everest Group’s Application and Digital Services in Banking PEAK Matrix® 2021.

Scope

• Industry: banking
• Geography: global
• The assessments are based on Everest Group’s annual RFI process for the calendar year 2021, interactions with leading application and digital services providers, client reference checks, and an ongoing analysis of the banking ADS market

Contents

This report studies:

• ADS in Banking IT Services PEAK Matrix®2021 Assessment 2021 – global
• An overview of the 27 service providers’ ADS in banking businesses and offerings – vision, business performance, and extent of adoption of ADS in banking across geographies
• Client success stories, including the business challenges addressed, solutions delivered, and impact generated
• An overview of the providers’ ADS in banking domain investments, key Intellectual Property (IP) / solutions, and key partnerships
• Everest Group’s perspective on the strengths and limitations of the 27 service providers

Membership(s)

Banking Information Technology

Sourcing and Vendor Management