Global macroeconomic conditions, evolving customer preferences, supply-chain disruptions, regulatory scrutiny, and transforming operating models are driving Banking and Financial Services (BFS) firms to build resilient, scalable, and flexible risk management and regulatory reporting IT and technology systems. However, roadblocks such as legacy IT landscape and fragmented data systems are hampering the transformation of BFS enterprises’ Risk and Compliance (R&C) functions.

BFS enterprises are also looking to evaluate how environment, social, and governance factors impact their financial products and the risks that they undertake. Additionally, they are creating new services and products that drive sustainable outcomes for their clients.

To serve this need, technology providers are partnering with technology and platform providers to develop solutions such as cloud-based, API-driven, and intelligent R&C management platforms to help BFS firms better manage their R&C functions. They are also investing in tools, accelerators, CoEs, next-generation technology solutions, and talent to improve enterprises’ R&C advisory and IT services capabilities.

This compendium provides detailed and fact-based snapshots of 26 BFS risk and compliance IT service providers featured on the Risk & Compliance in BFS IT Services PEAK Matrix^® Assessment 2022. Each profile provides a comprehensive picture of the provider’s vision and strategy, practice size and scale, delivery footprint, scope of services and solutions offered, investments, partnerships, case studies, and key strengths and limitations. The compendium will enable providers to benchmark their capabilities against their peers, while enterprises will be able to assess the providers based on their desired set of capabilities.

Scope

• Industry: BFS
• Geography: global
• The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading technology and IT services providers, client reference checks, and an ongoing analysis of risk and compliance in BFS IT services market

Contents

In this report, we:

• Examine key trends in the BFS risk and compliance space
• Classify 26 BFS IT service providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix^® framework
• Summarize providers’ market impact and vision and capabilities
• Review the providers’ vision, scope of services offered, delivery footprint, practice size and scale, case studies, and presence across enterprise segments and geographies
• Study the providers’ BFS risk and compliance IT services investments, key solutions/IP, and partnerships
• List the providers’ key strengths and limitations

Membership(s)

Banking and Financial Services Information Technology

Sourcing and Vendor Management