This RadarView provides a view into key service providers offering services in the banking process transformation domain. It begins by summarizing key supply-side trends and continues with a detailed assessment of 23 service providers offering banking process transformation services. Each profile provides an overview of the service provider, its key IPs and assets, and a list of clients and partnerships, along with brief client case studies. Each profile concludes with analyst insights on the provider based on the three dimensions of practice maturity, domain ecosystem, and investments and innovation.
Why read this RadarView?
The volatile macroeconomic conditions create a challenging environment for banks to effectively manage business fluctuations and processes and mitigate risk. Their focus is primarily on improving margins and driving profitability amid rising interest rates and competition. On top of this, new regulatory requirements are also driving banks to reevaluate their processes and pivot toward digitally enabled operations.
The Banking Process Transformation 2023 RadarView™ highlights key supply-side trends in the banking process transformation space and Avasant’s viewpoint on them. It aids banks and financial companies in identifying top service providers to assist them in the digital transformation of their banking operations. It also analyzes each service provider’s technology and delivery support capabilities, enabling organizations to identify the right strategic partners for banking process transformation.
This RadarView includes a detailed analysis of the following vendors offering banking process transformation services: Accenture, Capgemini, Coforge, Cognizant, Concentrix, Conduent, Datamatics, DXC, Exela Technologies, EXL, Firstsource, FIS Global, Genpact, HCLTech, IBM, Infosys, Mphasis, Sutherland, TCS, Tech Mahindra, Teleperformance, Wipro, and WNS.
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, domain ecosystem, and investments and innovation, leading to our recognition of those service providers that have brought the most value to the market over the past 12 months.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–9)
- Definition and scope of banking process transformation services
- Avasant recognizes 23 top-tier providers offering banking process transformation services
- Provider comparison
Supply-side trends (Pages 10–14)
- Loans and mortgage services continue to lead the demand for banking process transformation services.
- Service providers have expanded their workforce by around 19% in 2022 to meet the growing demand for transforming banking operations and processes.
- Time- and resource-based pricing models continue to lead in terms of adoption.
- Investments in R&D and practice growth are consistent with providers scaling their banking process service offering.
Service provider profiles (Pages 15–61)
- Detailed profiles for Accenture, Capgemini, Coforge, Cognizant, Concentrix, Conduent, Datamatics, DXC, Exela Technologies, EXL, Firstsource, FIS Global, Genpact, HCLTech, IBM, Infosys, Mphasis, Sutherland, TCS, Tech Mahindra, Teleperformance, Wipro, and WNS.
Appendix (Pages 62–65)
- Research methodology and coverage
- Interpretation of classification
- RadarView assessment
Key contacts (Page 66)
Read the Research Byte based on this report.
Please refer to Avasant’s Banking Process Transformation 2023 Market Insights™ for detailed insights on the service providers and supply-side trends.