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Banking BPO Service Provider Profile Compendium 2015
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-1617
Banking, Financial Services, and Insurance (BFSI) Outsourcing
Market Report: November 2015 – Preview Deck
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16172
Our research offerings for global services
1 Banking, financial services, and insurance
Custom research capabilities
Benchmarking | Pricing, delivery model, skill
portfolio
Peer analysis | Scope, sourcing models,
locations
Locations | Cost, skills, sustainability, portfolio
– plus a tracking tool
Tracking services | Service providers,
locations, risk
Other | Market intelligence, service provider
capabilities, technologies, contract assessment
Finance & Accounting
Procurement
Human Resources
Recruitment Process
PricePointTM
Global Sourcing
Locations InsiderTM
Contact Center
Market VistaTM
Global services tracking across functions, sourcing models, locations, and
service providers – industry tracking reports also available
Transaction Intelligence
Healthcare & Life Sciences
Application & Digital
Cloud & Infrastructure
BFSI1 Business Process
BFSI1 Information Technology
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
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Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16173
This report focuses on banking BPO
1 Business-to-consumer relationships
2 Business-to-business relationships
Retail financial services
(B2C1)
– Cards
– Retail banking
– Lending
Commercial banking (B2B2)
Banking
Investment banking
Asset management
Custody & fund
administration
Brokerage
Capital markets
Life & pensions
Property & casualty
Reinsurance
Insurance
Banking, Financial Services,
and Insurance (BFSI)
Focus of this report
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
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16174
Table of contents (page 1 of 2)
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
Topic Page no.
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16175
Table of contents (page 2 of 2)
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
Topic Page no.
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16176
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 providers1. 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)
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16177
ABC (page 1 of 6)
Banking BPO – overview
Recent acquisitions and partnerships
XX XX
XX XX
Recent developments
XX XX
XX XX
Suite of services
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
Company overview
XXX
Key leaders
XX XX
Headquarter: XX XX
Website: www.xxx.com
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16178
ABC (page 2 of 6)
Banking BPO – key delivery locations
Hyderabad
BangaloreMangalore Chennai
Kolkata
Pune
London
New York
Singapore
Hong Kong
MinotDes Moines
Source: Everest Group (2015)
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-16179
Banking BPO revenue mix by
geography
FTEs in numbers
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 FTE split by
delivery location
FTEs in numbers
Banking BPO number of
contracts by buyer size1
Number of active contracts
Banking BPO FTE mix by
segment
Revenue in US$ million
APAC
Offshore
100% = xx
Onshore
Europe
North
America
Large Small
MediumMEA
100% = xx 100% = xx100% = xx
Retail bankingCommercial
banking
Cards
Lending
Source: Everest Group (2015)
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-161710
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)
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-161711
ABC (page 5 of 6)
Banking BPO – risk management & regulatory reporting
Regulatory reporting support List of regulations Description No. of BPO clients
US regulations XXX XXX XX
UK regulations XXX XXX XX
Risk management support Description No. of BPO clients
Credit Risk XXX XX
Operations Risk XXX XX
Liquidity Risk XXX XX
Regulatory Risk XXX XX
Source: Everest Group (2015)
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-161712
14%
7%
ABC (page 6 of 6)
Everest Group assessment
Delivery capability assessment1
Assessment
dimension Rating Remarks
Scale XXX
Scope XXX
Technology solutions
& innovation
XXX
Delivery footprint XXX
Buyer satisfaction XXX
XXX
XXX
XXX
XXX
XXX
XXX
XXX
XXX
Key strengths Areas of improvement
Best-in-class Very high High Medium high Medium Medium low Low Not matureBest-in-class Very high
Market success assessment
ABC
Peer set average1
ABC
Peer set average
YoY Growth
Revenue in percentage
YoY Growth
Clients in percentage
22%
17%
Banking BPO revenue
US$ million
Banking BPO clients
Number of clients
1 Average based on 16 banking BPO service providers who participated in this research
Source: Everest Group (2015)
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-161713
BFSI BPO research calendar
Topic Release date
Published Current
Q4 2015P&C Insurance BPO – Service Provider Profile Compendium 2015
Q3 2015L&P Insurance BPO – Service Provider Landscape with PEAK Matrix Assessment 2015
November 2015Banking BPO – Service Provider Profile Compendium 2015
Q4 2015L&P Insurance BPO – Service Provider Profile Compendium 2015
May 2015Mortgage BPO State of Market Report 2015 – Curve of Time to Meet Mortgage Again?
May 2015Mortgage BPO – Service Provider Landscape with PEAK™ Matrix Assessment 2015
May 2015Commercial Insurance BPO - Rise of Specialty Lines
May 2015Home Equity Loans - The Next Frontier in Mortgage BPO?
May 2015Banking Business Process Outsourcing in Europe - Poised for Primetime
June 2015Technology in BPS – Service Provider Profile Compendium 2015
June 2015Banking BPO Annual Report 2015 – Heavy on Technology, Low on People – Future of Banking BPO
Q4 2015Capital Markets BPO – Service Provider Profile Compendium 2015
July 2015Capital Markets BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2015
Q3 2015P&C Insurance BPO – Service Provider Landscape with PEAK Matrix Assessment 2015
August 2015Banking BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2015
Q3 2015Insurance BPO – Annual Report 2015
August 2015Technology in Business Process Services (BPS) – The Pecking Order
August 2015Capital Markets BPO Annual Report 2015 – Technology and analytics helping banks manage risk and compliance
Copyright © 2015, Everest Global, Inc.
EGR-2015-11-PD-161714
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:
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