Banking BPO Service Provider Profile Compendium 2015 Banking, Financial Services, and Insurance (BFSI) Outsourcing Market Report: November 2015 Preview Deck
Our research offerings for global services Market Vista TM Global services tracking across functions, sourcing models, locations, and service providers industry tracking reports also available BFSI 1 Information Technology BFSI 1 Business Process PricePoint TM Finance & Accounting Custom research capabilities Benchmarking Pricing, delivery model, skill portfolio Peer analysis Scope, sourcing models, locations Healthcare & Life Sciences Application & Digital Cloud & Infrastructure Global Sourcing Locations Insider TM Procurement Human Resources Recruitment Process Contact Center Transaction Intelligence Locations Cost, skills, sustainability, portfolio plus a tracking tool Tracking services Service providers, locations, risk Other Market intelligence, service provider capabilities, technologies, contract assessment Subscription information The full report is included in the following subscription(s) BFSI BPO In addition to published research, a subscription may include analyst inquiry, data cuts, and other services If you want to learn whether your organization has a subscription agreement or request information on pricing and subscription options, please contact us Corporate Headquarters Office: +1-214-451-3000 info@everestgrp.com European Headquarters Office: +44-207-129-1318 unitedkingdom@everestgrp.com 1 Banking, financial services, and insurance 2
This report focuses on banking BPO Banking, Financial Services, and Insurance (BFSI) Focus of this report Banking Retail financial services (B2C 1 ) Cards Retail banking Lending Commercial banking (B2B 2 ) Capital markets Investment banking Asset management Custody & fund administration Brokerage Insurance Life & pensions Property & casualty Reinsurance Note: This report covers vertical-specific BPO within the banking space. It does not include coverage of horizontal business processes such as F&A, HR, procurement, and contact centers 1 Business-to-consumer relationships 2 Business-to-business relationships 3
Table of contents (page 1 of 2) Topic Page no. Background and scope 7 Section I: Banking BPO service provider landscape snapshot 8 Section II: Profile of banking BPO Leaders 15 Genpact 16 TCS 22 Wipro 29 Section III: Profile of banking BPO Major Contenders 36 Avaloq 37 Cognizant 44 EXL 52 HCL 59 IGATE 66 Infosys 72 Mphasis 79 Serco 85 Sutherland Global Services 92 4
Table of contents (page 2 of 2) Topic Page no. Section III: Profile of banking BPO Major Contenders (continued) Syntel 98 WNS 105 Xerox 112 Section IV: Profile of banking BPO Aspirant 118 Tech Mahindra 119 Section V: Appendix 125 PEAK Matrix framework 126 Glossary of terms 128 BFSI BPO research agenda 130 References 131 5
Background and scope of the research Background of the research Banking BPO is the largest and the most mature market within BFSI BPO. As regulatory bodies increase their oversight on banks activities, cost of compliance for banks will continue to rise, generating newer opportunities for BPO providers to help reduce the same. This, coupled with newer entrants in the space (for instance, small banks), is also causing a spike in the demand for banking BPO services. Buyers are now looking towards service providers to deliver more than just cost savings. Services and tools to ensure compliance and prevent banks from faltering in the future are increasingly gaining prominence. However, service providers still need to prove their capabilities to buyers before a widespread adoption can be witnessed. As buyers mature, they will look at leveraging process automation as the next means of cost reduction and optimizing operational efficiency. With a progressively changing landscape, service providers will be required to make the right set of investments to innovate and stay competitive. At the same time, buyers need to identify the providers who clearly understand their unique business challenges and can help mitigate the same. Scope The banking BPO service provider profile compendium provides accurate, comprehensive, and fact-based snapshots of 16 service providers 1. Each service provider profile shows a comprehensive picture of the provider s service suite, scale of operations, technology solutions, delivery locations, and buyer satisfaction along with Everest Group s assessment of the provider. The report also sheds insights into the global banking BPO service provider landscape. Note: Assessment for Accenture, CSC, Equiniti, HP, IBM, NIIT Technologies, and Polaris excludes service provider inputs on this particular study, and is based on Everest Group s estimates which leverage Everest Group s proprietary Transaction Intelligence (TI) database, ongoing coverage, service provider public disclosures, and interaction with buyers. However, a detailed profile for these service providers has not been included. Source: Everest Group (2015) 6
ABC (page 1 of 6) Banking BPO overview Company overview XXX Key leaders XX XX Headquarter: XX XX Recent acquisitions and partnerships XX XX XX XX 2012 2013 2014 Revenue (US$ million) XX XX XX Number of FTEs XX XX XX Number of clients XX XX XX Website: www.xxx.com Suite of services XX XX XX XX Recent developments XX XX XX XX 7
ABC (page 2 of 6) Banking BPO key delivery locations Minot Des Moines New York London Hyderabad Pune Mangalore Bangalore Kolkata Hong Kong Chennai Singapore Source: Everest Group (2015) 8
ABC (page 3 of 6) Banking BPO capabilities and key clients Key Banking Engagements Client name LoB Region Year since client XX XX Cards United States 2006 XX XX Commercial banking United Kingdom 2007 XX XX Retail banking Global 2010 XX XX Lending Australia 2011 Banking BPO revenue mix by geography FTEs in numbers Commercial banking 100% = xx Retail banking Banking BPO FTE mix by segment Revenue in US$ million 100% = xx North MEA America Banking BPO FTE split by delivery location FTEs in numbers Onshore Banking BPO number of contracts by buyer size 1 Number of active contracts 100% = xx 100% = xx Medium Cards Europe APAC Large Small Lending Offshore Source: Everest Group (2015) 9
ABC (page 4 of 6) Banking BPO technology solutions/tools Application LoB Year launched Description No. of BPO clients XX XX Cards 2006 XXX XX XX XX Commercial banking 2007 XXX XX XX XX Retail banking 2010 XXX XX XX XX Lending 2011 XXX XX Source: Everest Group (2015) 10
ABC (page 5 of 6) Banking BPO risk management & regulatory reporting Risk management support Description No. of BPO clients Credit Risk XXX XX Operations Risk XXX XX Liquidity Risk XXX XX Regulatory Risk XXX XX Regulatory reporting support List of regulations Description No. of BPO clients US regulations XXX XXX XX UK regulations XXX XXX XX Source: Everest Group (2015) 11
ABC (page 6 of 6) Everest Group assessment Best-in-class Very high High Medium high Medium Medium low Low Not mature Market success assessment ABC Banking BPO revenue US$ million Banking BPO clients Number of clients Delivery capability assessment 1 Assessment dimension Rating Remarks Scale XXX Peer set average 1 Scope XXX YoY Growth Revenue in percentage YoY Growth Clients in percentage Technology solutions & innovation XXX ABC 14% 22% Delivery footprint XXX Peer set average 7% 17% Buyer satisfaction XXX Key strengths Areas of improvement 1 Average based on 16 banking BPO service providers who participated in this research Source: Everest Group (2015) 12
BFSI BPO research calendar Topic Mortgage BPO State of Market Report 2015 Curve of Time to Meet Mortgage Again? Commercial Insurance BPO - Rise of Specialty Lines Home Equity Loans - The Next Frontier in Mortgage BPO? Mortgage BPO Service Provider Landscape with PEAK Matrix Assessment 2015 Banking Business Process Outsourcing in Europe - Poised for Primetime Banking BPO Annual Report 2015 Heavy on Technology, Low on People Future of Banking BPO Technology in BPS Service Provider Profile Compendium 2015 Capital Markets BPO Service Provider Landscape with PEAK Matrix Assessment 2015 Technology in Business Process Services (BPS) The Pecking Order Capital Markets BPO Annual Report 2015 Technology and analytics helping banks manage risk and compliance Banking BPO Service Provider Landscape with PEAK Matrix TM Assessment 2015 L&P Insurance BPO Service Provider Landscape with PEAK Matrix Assessment 2015 P&C Insurance BPO Service Provider Landscape with PEAK Matrix Assessment 2015 Insurance BPO Annual Report 2015 Published Current Release date May 2015 May 2015 May 2015 May 2015 May 2015 June 2015 June 2015 July 2015 August 2015 August 2015 August 2015 Q3 2015 Q3 2015 Q3 2015 Banking BPO Service Provider Profile Compendium 2015 Capital Markets BPO Service Provider Profile Compendium 2015 L&P Insurance BPO Service Provider Profile Compendium 2015 P&C Insurance BPO Service Provider Profile Compendium 2015 November 2015 Q4 2015 Q4 2015 Q4 2015 13
Additional BFSI BPO research references The following documents are recommended for additional insight into the topic covered in this report. The recommended documents either provide additional details on the topic or complementary content that may be of interest 1. Banking BPO Annual Report 2015 Heavy on Technology, Low on People Future of Banking BPO (EGR-2015-11-R-1466); 2015. This report assists key stakeholders (buyers, service providers, and technology providers) understand the changing dynamics of the banking BPO market and help them identify the trends and outlook for future. In this backdrop, this report provides comprehensive coverage of the global banking BPO market including detailed analysis of market size & growth, buyer adoption trends, solution characteristics, and service provider landscape 2. Banking BPO Service Provider Landscape with PEAK Matrix Assessment 2014 (EGR-2014-11-R-1272); 2014. This report uses Everest Group s proprietary PEAK Matrix to assess and rate service providers on various dimensions of their capabilities. It also discusses key emerging trends in the fast-growing banking BPO market 3. Mortgage BPO Service Provider Landscape with PEAK Matrix Assessment 2015 (EGR-2015-11-R-1449); 2015. This report uses Everest Group s proprietary PEAK Matrix to assess and rate service providers on various dimensions of their capabilities. It also provides concise and fact-based snapshots of 13 major mortgage BPO service providers For more information on this and other research published by Everest Group, please contact us: Anupam Jain, Practice Director: Manu Aggarwal, Senior Analyst: Amardeep Modi, Senior Analyst: Arushi Diwan, Senior Information Specialist FS BPO Team: anupam.jain@everestgrp.com manu.aggarwal@everestgrp.com amardeep.modi@everestgrp.com arushi.diwan@everestgrp.com FSBPOresearch@everestgrp.com Website: www.everestgrp.com Phone: +1-214-451-3000 Email: info@everestgrp.com 14
About Everest Group Everest Group is a consulting and research firm focused on strategic IT, business services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility, and responsiveness. What sets Everest Group apart is the integration of deep sourcing knowledge, problemsolving skills and original research. Details and in-depth content are available at www.everestgrp.com and research.everestgrp.com. Dallas (Headquarters) info@everestgrp.com +1-214-451-3000 New York info@everestgrp.com +1-646-805-4000 Toronto canada@everestgrp.com +1-647-557-3475 London unitedkingdom@everestgrp.com +44-207-129-1318 Delhi india@everestgrp.com +91-124-284-1000 Stay connected Websites www.everestgrp.com research.everestgrp.com Twitter @EverestGroup Blog www.sherpasinblueshirts.com