This report provides a view into the adoption of digital services in the banking industry, ecosystem participants, their interplay, key challenges, and the technology landscape. It helps banks identify the right service providers for their digital transformation. We continue with a detailed assessment of 26 service providers offering digital services in the banking industry. Each profile provides an overview of the service provider, its digital services capabilities and solutions, and a list of representative clients and partnerships, along with brief client case studies. Each profile concludes with analyst insights on the provider’s practice maturity, investments and innovations, and partner ecosystem.
Macroeconomic factors such as volatile interest rates, financial and geopolitical crises, and lower GDP growth forecasts among advanced economies; the rise of fintech and digital-only banks; and competition from big tech firms have put significant pressure on banks, forcing them to explore differentiated business and operating models.
This RadarView helps banks understand emerging digital services to design and drive their digital transformation journeys. It also provides information to assist banks in choosing the right digital service provider.
This RadarView includes an analysis of the following service providers in the banking digital services space: Accenture, Atos, Capgemini, CGI, Coforge, Cognizant, DXC, FIS Global, Genpact, GFT, HCL, Hexaware, IBM, Infosys, Kyndryl, LTI, Mindtree, Mphasis, NCR Corporation, NTT DATA, Persistent Systems, TCS, Tech Mahindra, Virtusa, Wipro, and Zensar.
The industry insights and recommendations presented are based on our ongoing interactions with senior executives, vendors, subject matter experts, and Avasant Fellows, along with lessons learned from consulting engagements.
Our evaluation of service providers is based on primary input from the providers, focused briefings, public disclosures, and Avasant’s ongoing market interactions. The assessment is across the three dimensions of practice maturity, investments and innovation, and partner ecosystem, leading to our recognition of those service providers that have brought the most value to the market over the past 12 months.
About the report (Page 3)
Scope of the report (Page 4)
Executive summary (Pages 6–8):
Lay of the land (Pages 9–18)
The road ahead (Pages 19–24)
RadarView assessment (Pages 25–30)
Service provider profiles (Pages 31–109)
Read the Research Byte based on this report.
Avasant’s research and other publications are based on information from the best available sources and Avasant’s independent assessment and analysis at the time of publication. Avasant takes no responsibility and assumes no liability for any error/omission or the accuracy of information contained in its research publications. Avasant does not endorse any provider, product or service described in its RadarView™ publications or any other research publications that it makes available to its users, and does not advise users to select only those providers recognized in these publications. Avasant disclaims all warranties, expressed or implied, including any warranties of merchantability or fitness for a particular purpose. None of the graphics, descriptions, research, excerpts, samples or any other content provided in the report(s) or any of its research publications may be reprinted, reproduced, redistributed or used for any external commercial purpose without prior permission from Avasant, LLC. All rights are reserved by Avasant, LLC.
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