INTRODUCTION

Strained revenue growth, low interest rates, rise of digital consumers, and mounting pressure of regulatory compliance continued to adversely affect the profitability of capital markets firms during 2013-2014. This has forced global capital markets firms to rethink and reinvent their business models as well as technological priorities. As a result, 2013-2014 saw a strong return of the discretionary spend, led by investments in development of specific applications for regulatory compliance, risk management, channel-specific initiatives (such as social and mobile), and customer analytics.

Consequently, the competitive landscape is also intensifying, as service providers continue to ramp up their capabilities, invest in innovative technologies, form alliances, and acquire strategic targets to address the complex and growing technology needs of banks and financial institutions.

Service providers in the BFSI-AO space also ramped up their capabilities, built scale, and invested in newer technologies, developing and acquiring IP / proprietary solutions. Further, they also formed alliances that allowed them to undertake and deliver on large-sized, annuity AO engagements. The competitive intensity in the BFSI-AO services space is at an all-time high. As a result, it is becoming difficult to differentiate service providers based purely on delivery capability. It is, therefore, critical to have a comprehensive, well-rounded, and a fact-based assessment of each service provider's BFSI-AO value proposition. Everest Group has assessed the capability and market success of 23 AO service providers and has mapped them on Everest Group’s Performance | Experience | Ability | Knowledge (PEAK) Matrix, which is a composite index of a range of distinct metrics related to a provider’s capability and market success.

In this research, we present detailed profiles of 23 service providers featured on the capital markets AO PEAK MatrixTM. Each service provider profile delivers a comprehensive picture of their service suite, scale of operations, domain investments, and delivery locations.

SCOPE

This report includes detailed profiles of the following 23 service providers:

• Capital markets AO PEAK Matrix Leaders: Accenture, Cognizant, IBM, Infosys, and TCS
• Capital markets AO PEAK Matrix Major Contenders: Capgemini, CGI, CSC, Dell Services, EPAM, Genpact, HCL Technologies, IGATE, Luxoft, L&T Infotech, Mphasis, Polaris, and Wipro
• Capital markets AO PEAK Matrix Emerging Players: Hexaware, NIIT Technologies, Syntel, Tech Mahindra, and Virtusa

CONTENTS

Each profile covers the following aspects of the featured service provider:

• General overview of the provider’s business, services, clients, and financials
• Highlights of the provider’s assessment across the PEAK Matrix dimensions – scale, scope, domain investments, delivery footprint, buyer satisfaction, and market success
• The provider’s capital markets AO-related domain investments, including proprietary solutions, acquisitions, alliances, and partnerships
• Publicly-announced transaction activity by the provider in the capital markets AO domain during 2009-2014
• AO delivery footprint of the provider in offshore locations