INTRODUCTION

In 2014, banks continued to face challenges of cost reduction, regulatory compliance, legacy modernization, and increasing customer expectations. As a result, banks are required to evolve across the value chain and are focusing on efficiency (run the bank), compliance (manage the bank), and transformation (change the bank). As banks embrace transformation through digital channels, they are demanding strategic partnerships from their service providers to bring in the best practices and innovation to their engagements. Disruption from non-traditional players has made banks rely heavily on their technology partners to generate more value from investments in new delivery methodologies, automation, and next generation technologies.

At the same time, the service provider landscape is transforming rapidly with the rise of the challengers, who are displacing large scale incumbents through risk-linked pricing models, innovation in the next generation technologies, investments in building proprietary solutions, and adoption of new production and delivery methodologies.

In this research, we analyze the service provider landscape for large, multi-year application outsourcing relationships in the global banking sector. We had assessed 30 banking AO service providers for their capabilities in providing these services globally. These providers were mapped on the Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix, which is a composite index of a range of distinct metrics related to each provider’s capability and market success.

In this report, we present detailed profiles of 30 service providers featured on the global banking AO PEAK MatrixTM. Each service provider profile provides a comprehensive picture of their banking AO service suite, scale of operations, domain investments, publicly-announced transactions, and delivery locations.

SCOPE

This report includes detailed profiles of the following 30 service providers:

• Banking AO PEAK Matrix Leaders: Accenture, Cognizant, HCL Technologies, IBM, Infosys, TCS, and Wipro
• Banking AO PEAK Matrix Major Contenders: Capgemini, CGI, CSC, Dell Services, Genpact, HPES, IGATE, ITC Infotech, L&T Infotech, Luxoft, Mindtree, MphasiS, Polaris, Softtek, Syntel, Tech Mahindra, Unisys, and Virtusa
• Banking AO PEAK Matrix Aspirants: Attra Infotech, Birlasoft, Endava, EPAM, and Hexaware

CONTENTS

Each profile covers the following aspects for each 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 banking AO-related domain investments, including proprietary solutions, acquisitions, alliances, and partnerships
• Publicly-announced transaction activity by the provider in the banking AO domain during 2012-2015
• AO delivery footprint of the provider in offshore locations